CoStar Group Inc (NASDAQ:CSGP) Short Interest Update

CoStar Group Inc (NASDAQ:CSGP) saw a large drop in short interest in September. As of September 30th, there was short interest totalling 214,100 shares, a drop of 51.2% from the August 30th total of 438,400 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average daily volume of 263,300 shares, the short-interest ratio is presently 0.8 days.

In other CoStar Group news, CFO Scott T. Wheeler sold 6,933 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $629.50, for a total value of $4,364,323.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Matthew Linnington sold 14,651 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $617.39, for a total value of $9,045,380.89. The disclosure for this sale can be found here. Insiders sold a total of 45,794 shares of company stock worth $28,629,079 in the last ninety days. 2.14% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Commonwealth Bank of Australia grew its stake in CoStar Group by 77.4% during the 2nd quarter. Commonwealth Bank of Australia now owns 55 shares of the technology company’s stock worth $29,000 after buying an additional 24 shares during the last quarter. Advisory Services Network LLC purchased a new position in CoStar Group during the 2nd quarter worth approximately $36,000. Private Capital Group LLC purchased a new position in CoStar Group during the 2nd quarter worth approximately $36,000. Next Capital Management LLC purchased a new position in CoStar Group during the 2nd quarter worth approximately $43,000. Finally, CSat Investment Advisory L.P. purchased a new position in CoStar Group during the 2nd quarter worth approximately $46,000. 95.71% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ CSGP traded up $12.24 during midday trading on Friday, hitting $614.12. 347,636 shares of the company’s stock were exchanged, compared to its average volume of 294,281. CoStar Group has a twelve month low of $315.85 and a twelve month high of $639.41. The company has a market cap of $21.94 billion, a PE ratio of 82.99, a P/E/G ratio of 4.44 and a beta of 1.36. The firm’s fifty day simple moving average is $596.81 and its 200-day simple moving average is $553.82.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, July 23rd. The technology company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.22. CoStar Group had a return on equity of 10.42% and a net margin of 22.48%. The business had revenue of $343.76 million for the quarter, compared to analyst estimates of $336.71 million. During the same quarter last year, the company earned $1.05 EPS. The business’s quarterly revenue was up 15.7% on a year-over-year basis. On average, analysts anticipate that CoStar Group will post 9.02 EPS for the current fiscal year.

CSGP has been the topic of a number of analyst reports. BidaskClub raised CoStar Group from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Citigroup increased their price target on CoStar Group from $575.00 to $680.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. SunTrust Banks increased their price target on CoStar Group to $650.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. ValuEngine lowered CoStar Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research lowered CoStar Group from a “buy” rating to a “hold” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. CoStar Group has an average rating of “Buy” and a consensus target price of $626.00.

CoStar Group Company Profile

CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that offers inventory of office, industrial, retail, and multifamily properties and land.

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