CoStar Group, Inc. (NASDAQ:CSGP) Sees Large Increase in Short Interest

CoStar Group, Inc. (NASDAQ:CSGPGet Rating) was the target of a significant increase in short interest in April. As of April 30th, there was short interest totalling 4,580,000 shares, an increase of 23.5% from the April 15th total of 3,710,000 shares. Based on an average trading volume of 2,740,000 shares, the short-interest ratio is presently 1.7 days.

CSGP stock opened at $56.81 on Friday. CoStar Group has a twelve month low of $49.00 and a twelve month high of $101.05. The company has a market cap of $22.51 billion, a PE ratio of 71.91 and a beta of 0.90. The business’s 50-day simple moving average is $62.57 and its 200 day simple moving average is $69.47. The company has a quick ratio of 11.08, a current ratio of 11.08 and a debt-to-equity ratio of 0.17.

CoStar Group (NASDAQ:CSGPGet Rating) last announced its quarterly earnings results on Tuesday, April 26th. The technology company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $515.83 million during the quarter, compared to analysts’ expectations of $512.32 million. CoStar Group had a net margin of 15.37% and a return on equity of 7.25%. During the same quarter last year, the company earned $0.25 earnings per share. On average, equities research analysts anticipate that CoStar Group will post 0.86 EPS for the current year.

CSGP has been the topic of several recent research reports. JPMorgan Chase & Co. cut their target price on CoStar Group from $102.00 to $97.00 and set an “overweight” rating on the stock in a report on Wednesday, February 23rd. TheStreet downgraded CoStar Group from a “b-” rating to a “c” rating in a research report on Thursday, January 27th. Zacks Investment Research raised CoStar Group from a “sell” rating to a “hold” rating in a research report on Monday, May 2nd. Citigroup raised their price target on CoStar Group from $65.00 to $70.00 in a research report on Wednesday, April 27th. Finally, Robert W. Baird lowered their price target on CoStar Group from $100.00 to $75.00 in a research report on Wednesday, February 23rd. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $80.11.

In other CoStar Group news, insider Michael J. Desmarais sold 1,000 shares of the firm’s stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $63.14, for a total transaction of $63,140.00. Following the transaction, the insider now directly owns 41,619 shares in the company, valued at $2,627,823.66. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.36% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. O Shaughnessy Asset Management LLC raised its stake in shares of CoStar Group by 9.4% in the third quarter. O Shaughnessy Asset Management LLC now owns 3,458 shares of the technology company’s stock valued at $298,000 after acquiring an additional 298 shares during the last quarter. IndexIQ Advisors LLC raised its stake in shares of CoStar Group by 5.4% in the third quarter. IndexIQ Advisors LLC now owns 6,786 shares of the technology company’s stock valued at $584,000 after acquiring an additional 346 shares during the last quarter. Allianz Asset Management GmbH raised its stake in shares of CoStar Group by 7.7% in the third quarter. Allianz Asset Management GmbH now owns 45,924 shares of the technology company’s stock valued at $3,952,000 after acquiring an additional 3,284 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of CoStar Group by 8.8% in the third quarter. Goldman Sachs Group Inc. now owns 1,728,585 shares of the technology company’s stock valued at $148,762,000 after acquiring an additional 140,331 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of CoStar Group by 4.1% in the third quarter. US Bancorp DE now owns 78,896 shares of the technology company’s stock valued at $6,790,000 after acquiring an additional 3,117 shares during the last quarter. Hedge funds and other institutional investors own 94.52% of the company’s stock.

CoStar Group Company Profile (Get Rating)

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. It offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar COMPS, 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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