NS Partners Ltd Grows Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

by · The Cerbat Gem

NS Partners Ltd increased its stake in CoStar Group, Inc. (NASDAQ:CSGP – Free Report) by 2.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 182,417 shares of the technology company’s stock after purchasing an additional 3,836 shares during the quarter. NS Partners Ltd’s holdings in CoStar Group were worth $13,762,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its holdings in CoStar Group by 17.7% in the first quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock valued at $1,140,650,000 after acquiring an additional 1,773,564 shares during the period. Bank of New York Mellon Corp grew its position in CoStar Group by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock valued at $453,534,000 after buying an additional 124,761 shares during the period. Vulcan Value Partners LLC increased its holdings in CoStar Group by 90.1% during the second quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock valued at $306,831,000 after buying an additional 1,961,917 shares during the last quarter. Capital Research Global Investors increased its holdings in CoStar Group by 9.9% during the first quarter. Capital Research Global Investors now owns 2,652,774 shares of the technology company’s stock valued at $256,258,000 after buying an additional 238,461 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in CoStar Group by 16.9% in the second quarter. Mackenzie Financial Corp now owns 2,358,526 shares of the technology company’s stock worth $174,861,000 after acquiring an additional 341,046 shares during the period. Institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Performance

CSGP opened at $72.09 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The stock has a market capitalization of $29.55 billion, a price-to-earnings ratio of 163.84 and a beta of 0.82. The company has a fifty day moving average of $75.56 and a 200 day moving average of $77.08. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38.

CoStar Group (NASDAQ:CSGP – Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $692.60 million during the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 earnings per share. As a group, sell-side analysts forecast that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of CoStar Group in a research note on Tuesday. Citigroup decreased their price objective on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Royal Bank of Canada lowered shares of CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group lowered their price target on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.25.

Check Out Our Latest Stock Report on CoStar Group

Insiders Place Their Bets

In other news, Director Michael R. Klein sold 71,633 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the completion of the transaction, the director now directly owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This represents a 3.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew C. Florance purchased 14,731 shares of CoStar Group stock in a transaction that occurred on Friday, October 25th. The stock was acquired at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the transaction, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. The trade was a 1.18 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.57% of the company’s stock.

CoStar Group Profile

(Free Report)

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.

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