Y Intercept Hong Kong Ltd Has $1.47 Million Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Y Intercept Hong Kong Ltd cut its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 81.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,518 shares of the technology company’s stock after selling 87,914 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in CoStar Group were worth $1,472,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CSGP. Ashton Thomas Securities LLC acquired a new position in CoStar Group during the 3rd quarter valued at $40,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of CoStar Group during the second quarter valued at about $49,000. Quarry LP acquired a new position in shares of CoStar Group during the second quarter valued at about $54,000. Rothschild Investment LLC bought a new stake in shares of CoStar Group in the second quarter valued at about $73,000. Finally, Blue Trust Inc. grew its position in CoStar Group by 493.4% during the second quarter. Blue Trust Inc. now owns 1,080 shares of the technology company’s stock worth $80,000 after buying an additional 898 shares in the last quarter. 96.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

CSGP has been the subject of a number of research reports. StockNews.com downgraded 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 lowered their price target for the company from $96.00 to $83.00 in a report on Wednesday, October 23rd. BMO Capital Markets reduced their price objective on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Citigroup lowered their target price on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of CoStar Group in a research note on Monday. One 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’s stock. Based on data from MarketBeat, CoStar Group currently has a consensus rating of “Moderate Buy” and an average target price of $93.25.

Insider Activity

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

CoStar Group Trading Down 2.8 %

CSGP stock opened at $76.43 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The stock has a market capitalization of $31.33 billion, a price-to-earnings ratio of 173.70 and a beta of 0.83. The business has a fifty day moving average price of $76.26 and a 200 day moving average price of $76.15. 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) last released its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The business had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. During the same period in the previous year, the business posted $0.25 earnings per share. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. Analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

About CoStar Group

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.