Mattern Capital Management LLC Buys 1,541 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Mattern Capital Management LLC grew its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 25.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,690 shares of the technology company’s stock after acquiring an additional 1,541 shares during the period. Mattern Capital Management LLC’s holdings in CoStar Group were worth $580,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of CSGP. Vanguard Group Inc. raised its position in CoStar Group by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock worth $6,322,615,000 after purchasing an additional 541,700 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of CoStar Group by 17.7% during 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 boosted its holdings in CoStar Group by 2.1% in 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 acquiring an additional 124,761 shares during the last quarter. Blair William & Co. IL increased its position in CoStar Group by 0.6% in the first quarter. Blair William & Co. IL now owns 4,419,778 shares of the technology company’s stock worth $426,951,000 after purchasing an additional 26,800 shares during the period. Finally, Vulcan Value Partners LLC lifted its position in CoStar Group by 90.1% during the 2nd quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock valued at $306,831,000 after purchasing an additional 1,961,917 shares during the period. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Price Performance

Shares of NASDAQ CSGP opened at $74.48 on Friday. The company has a fifty day moving average price of $76.46 and a 200 day moving average price of $78.91. The firm has a market cap of $30.52 billion, a PE ratio of 169.28 and a beta of 0.81. The company has a current ratio of 9.27, a quick ratio of 9.27 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38.

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, topping the consensus estimate of $0.16 by $0.06. CoStar Group had a return on equity of 3.54% and a net margin of 6.57%. The company had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. During the same period in the prior year, the firm earned $0.25 earnings per share. CoStar Group’s revenue for the quarter was up 10.9% compared to the same quarter last year. Research analysts predict that CoStar Group, Inc. will post 0.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Citigroup dropped their price target on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday. Royal Bank of Canada downgraded CoStar Group from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $96.00 to $83.00 in a report on Wednesday. Keefe, Bruyette & Woods lowered their price target on CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. StockNews.com raised shares of CoStar Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. Finally, Needham & Company LLC lowered their target price on shares of CoStar Group from $107.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, CoStar Group presently has a consensus rating of “Moderate Buy” and an average price target of $93.25.

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.