CoStar Group, Inc. (NASDAQ:CSGP) Short Interest Up 8.6% in September

by · The Markets Daily

CoStar Group, Inc. (NASDAQ:CSGP – Get Free Report) saw a significant growth in short interest in September. As of September 15th, there was short interest totalling 8,090,000 shares, a growth of 8.6% from the August 31st total of 7,450,000 shares. Based on an average daily trading volume, of 2,340,000 shares, the short-interest ratio is presently 3.5 days.

Analyst Upgrades and Downgrades

CSGP has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on CoStar Group from $102.00 to $108.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Robert W. Baird lowered their price objective on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. The Goldman Sachs Group reduced their price objective on CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Needham & Company LLC restated a “buy” rating and issued a $107.00 price objective on shares of CoStar Group in a research note on Tuesday, September 17th. Finally, Bank of America lowered their price target on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.38.

View Our Latest Analysis on CSGP

Institutional Investors Weigh In On CoStar Group

A number of hedge funds have recently modified their holdings of the business. Concurrent Investment Advisors LLC increased its holdings in shares of CoStar Group by 4.7% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,505 shares of the technology company’s stock worth $242,000 after buying an additional 112 shares during the last quarter. Lindbrook Capital LLC grew its holdings in shares of CoStar Group by 9.2% during the 1st quarter. Lindbrook Capital LLC now owns 1,337 shares of the technology company’s stock worth $129,000 after purchasing an additional 113 shares during the period. Picton Mahoney Asset Management raised its holdings in CoStar Group by 2.9% in the 2nd quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock valued at $352,000 after buying an additional 135 shares during the period. Redmond Asset Management LLC lifted its position in CoStar Group by 0.9% in the first 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 during the last quarter. Finally, S.E.E.D. Planning Group LLC boosted its stake in CoStar Group by 0.5% during the second quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company’s stock worth $2,688,000 after buying an additional 172 shares during the period. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Trading Down 0.2 %

NASDAQ CSGP traded down $0.16 during trading on Tuesday, hitting $75.28. The stock had a trading volume of 830,870 shares, compared to its average volume of 2,249,416. The stock has a 50 day simple moving average of $76.29 and a 200 day simple moving average of $81.39. CoStar Group has a one year low of $67.35 and a one year high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. The stock has a market capitalization of $30.74 billion, a price-to-earnings ratio of 103.34 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP – Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.06. The firm had revenue of $677.80 million during the quarter, compared to analysts’ expectations of $677.18 million. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the business posted $0.27 earnings per share. Sell-side analysts predict that CoStar Group will post 0.49 earnings per share for the current year.

CoStar Group Company Profile

(Get Free Report)

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.

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