Malaga Cove Capital LLC Grows Position in CoStar Group, Inc. (NASDAQ:CSGP)

Malaga Cove Capital LLC boosted its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 5.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 27,175 shares of the technology company’s stock after acquiring an additional 1,500 shares during the period. Malaga Cove Capital LLC’s holdings in CoStar Group were worth $2,015,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in CSGP. Concurrent Investment Advisors LLC grew its holdings in CoStar Group by 4.7% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,505 shares of the technology company’s stock valued at $242,000 after buying an additional 112 shares in the last quarter. Lindbrook Capital LLC grew its position in shares of CoStar Group by 9.2% during the first quarter. Lindbrook Capital LLC now owns 1,337 shares of the technology company’s stock valued at $129,000 after purchasing an additional 113 shares in the last quarter. Checchi Capital Advisers LLC increased its holdings in shares of CoStar Group by 3.4% in the fourth quarter. Checchi Capital Advisers LLC now owns 3,658 shares of the technology company’s stock worth $320,000 after purchasing an additional 121 shares during the last quarter. Picton Mahoney Asset Management lifted its position in shares of CoStar Group by 2.9% in the second quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock worth $352,000 after buying an additional 135 shares in the last quarter. Finally, Redmond Asset Management LLC grew its holdings in CoStar Group by 0.9% during the 1st quarter. Redmond Asset Management LLC now owns 18,670 shares of the technology company’s stock valued at $1,804,000 after buying an additional 169 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CSGP. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods decreased their target price on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Royal Bank of Canada lowered their price target on shares of CoStar Group from $109.00 to $96.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Bank of America reduced their price objective on CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Finally, The Goldman Sachs Group lowered their price objective on CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $96.38.

CoStar Group Stock Performance

Shares of CoStar Group stock opened at $79.53 on Tuesday. CoStar Group, Inc. has a 52 week low of $67.35 and a 52 week high of $100.38. The company has a market capitalization of $32.59 billion, a PE ratio of 108.95, a price-to-earnings-growth ratio of 11.48 and a beta of 0.81. The stock’s fifty day moving average is $75.51 and its two-hundred day moving average is $82.41. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.06. The company had revenue of $677.80 million during the quarter, compared to analysts’ expectations of $677.18 million. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.27 EPS. As a group, analysts expect that CoStar Group, Inc. will post 0.49 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.