Atomi Financial Group Inc. Makes New Investment in CoStar Group, Inc. (NASDAQ:CSGP)

by · The Markets Daily

Atomi Financial Group Inc. bought a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP – Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,553 shares of the technology company’s stock, valued at approximately $494,000.

A number of other hedge funds also recently made changes to their positions in the business. Crewe Advisors LLC purchased a new stake in CoStar Group during the first quarter worth about $31,000. Riverview Trust Co purchased a new stake in shares of CoStar Group during the 1st quarter worth approximately $35,000. RiverPark Advisors LLC purchased a new position in CoStar Group in the first quarter valued at approximately $37,000. Industrial Alliance Investment Management Inc. purchased a new position in CoStar Group in the second quarter valued at approximately $49,000. Finally, Quarry LP bought a new position in CoStar Group during the second quarter valued at $54,000. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $74.83 on Friday. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13. The business’s 50-day moving average price is $75.87 and its two-hundred day moving average price is $80.45. The stock has a market cap of $30.67 billion, a P/E ratio of 102.51 and a beta of 0.81. CoStar Group, Inc. has a twelve month low of $67.35 and a twelve month high of $100.38.

CoStar Group (NASDAQ:CSGP – Get Free Report) last announced its earnings results 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 business had revenue of $677.80 million during the quarter, compared to analyst estimates of $677.18 million. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. CoStar Group’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 earnings per share. As a group, equities analysts predict that CoStar Group, Inc. will post 0.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CSGP has been the topic of a number of recent research reports. StockNews.com raised CoStar Group from a “sell” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. increased their target price on shares of CoStar Group from $102.00 to $108.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. The Goldman Sachs Group lowered their price target on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Bank of America reduced their price objective on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Finally, Keefe, Bruyette & Woods dropped their target price on CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, CoStar Group presently has an average rating of “Moderate Buy” and a consensus price target of $96.38.

Read Our Latest Report on CSGP

About CoStar Group

(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.

Further Reading

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