CoStar Group, Inc. (NASDAQ:CSGP) Holdings Decreased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lessened its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 63.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,842 shares of the technology company’s stock after selling 13,607 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in CoStar Group were worth $592,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CSGP. Vulcan Value Partners LLC lifted its stake in shares of CoStar Group by 90.1% in the 2nd quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock worth $306,831,000 after acquiring an additional 1,961,917 shares during the period. Select Equity Group L.P. acquired a new stake in CoStar Group in the second quarter worth approximately $60,761,000. Renaissance Technologies LLC bought a new position in CoStar Group during the 2nd quarter valued at $46,692,000. Jupiter Asset Management Ltd. acquired a new position in shares of CoStar Group during the 2nd quarter valued at $34,987,000. Finally, Mackenzie Financial Corp raised its stake in shares of CoStar Group by 16.9% in the 2nd quarter. Mackenzie Financial Corp now owns 2,358,526 shares of the technology company’s stock worth $174,861,000 after buying an additional 341,046 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 58,798 shares in the company, valued at $4,696,784.24. This trade represents a 8.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the transaction, the director now directly owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. This represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company’s stock.

CoStar Group Stock Down 0.8 %

CoStar Group stock opened at $81.34 on Friday. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38. The firm’s fifty day simple moving average is $75.86 and its 200-day simple moving average is $76.66. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $33.35 billion, a P/E ratio of 184.86 and a beta of 0.82.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The business had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. During the same period last year, the business earned $0.25 EPS. The firm’s revenue was up 10.9% compared to the same quarter last year. Sell-side analysts forecast that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Royal Bank of Canada cut CoStar Group from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $96.00 to $83.00 in a research note on Wednesday, October 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of CoStar Group in a research note on Tuesday, November 19th. BMO Capital Markets reduced their target price on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Citigroup lowered their price target on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Finally, JMP Securities restated a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $93.25.

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.