CoStar Group, Inc. (NASDAQ:CSGP) Short Interest Up 8.1% in January

CoStar Group, Inc. (NASDAQ:CSGP) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 12,700,000 shares, an increase of 8.1% from the December 31st total of 11,750,000 shares. Based on an average trading volume of 2,840,000 shares, the short-interest ratio is presently 4.5 days.

CoStar Group Price Performance

Shares of CSGP opened at $76.80 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The firm has a market cap of $31.48 billion, a PE ratio of 174.55 and a beta of 0.87. The firm’s 50 day moving average price is $74.67 and its 200 day moving average price is $75.41. CoStar Group has a twelve month low of $68.26 and a twelve month high of $100.38.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CSGP. William Blair reaffirmed an “outperform” rating on shares of CoStar Group in a research report on Monday, January 6th. Citigroup reduced their price objective on shares of CoStar Group from $90.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Stephens reissued an “overweight” rating and issued a $103.00 target price on shares of CoStar Group in a research report on Wednesday, January 29th. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $83.00 price objective on shares of CoStar Group in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, CoStar Group currently has a consensus rating of “Moderate Buy” and an average target price of $92.33.

Insider Buying and Selling

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the transaction, the insider now owns 58,798 shares in the company, valued at approximately $4,696,784.24. The trade was a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.57% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CoStar Group

Several institutional investors and hedge funds have recently modified their holdings of CSGP. ORG Partners LLC boosted its stake in shares of CoStar Group by 534.8% during the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after acquiring an additional 353 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in CoStar Group in the 4th quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. boosted its position in CoStar Group by 17,100.0% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock worth $37,000 after purchasing an additional 513 shares during the period. Ashton Thomas Securities LLC acquired a new position in CoStar Group during the third quarter valued at approximately $40,000. Finally, Centricity Wealth Management LLC bought a new position in shares of CoStar Group in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

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.