Wealth Alliance Increases Position in CoStar Group, Inc. (NASDAQ:CSGP)

Wealth Alliance boosted its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,539 shares of the technology company’s stock after purchasing an additional 132 shares during the period. Wealth Alliance’s holdings in CoStar Group were worth $397,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of CSGP. Vontobel Holding Ltd. raised its position in shares of CoStar Group by 3.1% in the 4th quarter. Vontobel Holding Ltd. now owns 23,097 shares of the technology company’s stock valued at $2,018,000 after purchasing an additional 691 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in CoStar Group during the 4th quarter worth $4,990,000. Simplicity Solutions LLC increased its position in shares of CoStar Group by 5.7% in the 4th quarter. Simplicity Solutions LLC now owns 7,971 shares of the technology company’s stock worth $697,000 after purchasing an additional 431 shares during the last quarter. Valeo Financial Advisors LLC acquired a new stake in shares of CoStar Group in the 4th quarter valued at about $212,000. Finally, Sapient Capital LLC bought a new position in shares of CoStar Group during the fourth quarter worth about $1,574,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Bank of America boosted their price objective on CoStar Group from $97.00 to $111.00 and gave the company a “buy” rating in a report on Monday, March 18th. JMP Securities reiterated a “market outperform” rating and issued a $110.00 price target on shares of CoStar Group in a report on Friday, April 12th. Robert W. Baird raised their price objective on CoStar Group from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th. The Goldman Sachs Group boosted their target price on shares of CoStar Group from $96.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Finally, BTIG Research assumed coverage on shares of CoStar Group in a report on Friday, January 19th. They set a “neutral” rating on the stock. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $100.08.

CoStar Group Trading Down 1.5 %

CoStar Group stock opened at $84.18 on Friday. The firm has a 50-day moving average price of $89.08 and a two-hundred day moving average price of $84.34. CoStar Group, Inc. has a 52-week low of $67.35 and a 52-week high of $100.38. The firm has a market capitalization of $34.38 billion, a price-to-earnings ratio of 91.50, a PEG ratio of 9.82 and a beta of 0.84. The company has a quick ratio of 12.01, a current ratio of 12.01 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $640.00 million for the quarter, compared to analyst estimates of $634.27 million. CoStar Group had a return on equity of 6.08% and a net margin of 15.26%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the company earned $0.35 earnings per share. Sell-side analysts expect that CoStar Group, Inc. will post 0.44 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.