CoStar Group, Inc. $CSGP Stock: Hahn Capital Management LLC Increases Holdings

Hahn Capital Management LLC raised its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 352.6% in the third quarter, Holdings Channel.com reports. The firm owned 203,125 shares of the technology company’s stock after acquiring an additional 158,241 shares during the period. CoStar Group makes up approximately 3.3% of Hahn Capital Management LLC’s holdings, making the stock its 16th largest holding. Hahn Capital Management LLC’s holdings in CoStar Group were worth $5,566,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CSGP. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of CoStar Group by 56.8% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,380 shares of the technology company’s stock worth $38,000 after purchasing an additional 500 shares during the period. Greenleaf Trust acquired a new position in shares of CoStar Group during the third quarter valued at about $228,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of CoStar Group during the third quarter valued at about $2,846,000. Profund Advisors LLC bought a new stake in shares of CoStar Group in the third quarter valued at about $206,000. Finally, ProShare Advisors LLC lifted its stake in shares of CoStar Group by 1.4% in the third quarter. ProShare Advisors LLC now owns 78,872 shares of the technology company’s stock valued at $2,161,000 after buying an additional 1,059 shares during the period. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 4,788 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $30.78, for a total transaction of $147,374.64. Following the transaction, the chief accounting officer owned 18,822 shares of the company’s stock, valued at $579,341.16. This represents a 20.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.18% of the company’s stock.

Wall Street Analysts Forecast Growth

CSGP has been the topic of several research reports. Weiss Ratings upgraded CoStar Group from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, October 29th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $33.00 price target (up from $31.00) on shares of CoStar Group in a report on Monday, August 24th. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of CoStar Group in a research report on Wednesday, October 28th. William Blair lowered CoStar Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 29th. Finally, Wells Fargo & Company set a $35.00 price objective on CoStar Group in a research report on Wednesday, October 28th. Ten research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $39.11.

CoStar Group Trading Up 4.0%

Shares of CSGP opened at $32.58 on Thursday. CoStar Group, Inc. has a 1 year low of $25.89 and a 1 year high of $70.63. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.12. The stock has a 50 day simple moving average of $30.28 and a 200-day simple moving average of $36.48. The stock has a market cap of $13.11 billion, a PE ratio of 32.62, a PEG ratio of 0.79 and a beta of 0.79.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, October 27th. The technology company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.04. The firm had revenue of $952.00 million during the quarter, compared to the consensus estimate of $945.82 million. CoStar Group had a net margin of 4.87% and a return on equity of 4.87%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the firm posted $0.23 EPS. On average, sell-side analysts predict that CoStar Group, Inc. will post 1.12 EPS for the current fiscal year.

CoStar Group Company Profile

CoStar Group, Inc is a provider of information, analytics, and online marketplaces for the commercial and residential real estate industries. The company collects, analyzes, and distributes property and market data to real estate professionals, investors, lenders, and other businesses.

Its brands and services include CoStar, which offers commercial real estate data and research; LoopNet, a marketplace for commercial property listings; Apartments.com, a rental housing marketplace; and Homes.com, a residential real estate platform.