New Century Financial Group LLC Sells 217 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

New Century Financial Group LLC reduced its position in CoStar Group, Inc. (NASDAQ:CSGP) by 6.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,973 shares of the technology company’s stock after selling 217 shares during the quarter. New Century Financial Group LLC’s holdings in CoStar Group were worth $215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CSGP. ORG Partners LLC boosted its holdings in CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after buying an additional 353 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of CoStar Group in the third quarter worth about $40,000. Quarry LP purchased a new stake in shares of CoStar Group during the second quarter worth about $54,000. Brooklyn Investment Group bought a new stake in CoStar Group during the 3rd quarter valued at approximately $91,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in CoStar Group in the 2nd quarter worth approximately $104,000. 96.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the completion of the transaction, the insider now owns 58,798 shares in the company, valued at $4,696,784.24. The trade was a 8.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.57% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CSGP has been the subject of a number of research analyst reports. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. William Blair reaffirmed an “outperform” rating on shares of CoStar Group in a research note on Monday, January 6th. BMO Capital Markets decreased their price target on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada restated a “sector perform” rating and set a $83.00 price objective on shares of CoStar Group in a research report on Friday, January 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of CoStar Group in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CoStar Group currently has a consensus rating of “Moderate Buy” and an average price target of $92.92.

CoStar Group Stock Performance

NASDAQ CSGP opened at $74.16 on Friday. The business’s 50 day moving average price is $74.56 and its 200-day moving average price is $75.34. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The company has a market cap of $30.40 billion, a P/E ratio of 168.55 and a beta of 0.85. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63.

CoStar Group (NASDAQ:CSGP) last posted 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 business had revenue of $692.60 million for the quarter, compared to analysts’ expectations of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.25 earnings per share. Sell-side analysts predict that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

CoStar Group Company Profile

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.