M&T Bank Corp Purchases 790 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

M&T Bank Corp raised its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 3.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,330 shares of the technology company’s stock after purchasing an additional 790 shares during the period. M&T Bank Corp’s holdings in CoStar Group were worth $1,835,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Diversified Trust Co bought a new position in CoStar Group in the second quarter valued at approximately $202,000. Blue Trust Inc. lifted its stake in shares of CoStar Group by 493.4% in the 2nd quarter. Blue Trust Inc. now owns 1,080 shares of the technology company’s stock valued at $80,000 after purchasing an additional 898 shares during the period. Raymond James & Associates boosted its position in shares of CoStar Group by 1.8% in the 2nd quarter. Raymond James & Associates now owns 628,112 shares of the technology company’s stock worth $46,568,000 after purchasing an additional 10,999 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of CoStar Group by 12.2% during the second quarter. First Horizon Advisors Inc. now owns 3,996 shares of the technology company’s stock worth $296,000 after purchasing an additional 434 shares during the period. Finally, First Citizens Bank & Trust Co. increased its holdings in CoStar Group by 49.7% in the second quarter. First Citizens Bank & Trust Co. now owns 9,556 shares of the technology company’s stock valued at $708,000 after purchasing an additional 3,174 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

Analyst Upgrades and Downgrades

CSGP has been the topic of several recent analyst reports. BMO Capital Markets decreased their price objective on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada cut shares of CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $96.00 to $83.00 in a research report on Wednesday, October 23rd. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Citigroup reduced their target price 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 issued a $90.00 price target on shares of CoStar Group in a report on Friday, September 6th. One equities research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.25.

Insiders Place Their Bets

In related news, Director Michael R. Klein sold 71,633 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $142,919,389.69. The trade was a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew C. Florance purchased 14,731 shares of the company’s stock in a transaction on Friday, October 25th. The shares were purchased at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the transaction, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. This represents a 1.18 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.57% of the company’s stock.

CoStar Group Stock Down 4.1 %

NASDAQ:CSGP opened at $75.07 on Friday. The stock has a 50-day simple moving average of $76.45 and a 200 day simple moving average of $75.98. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38. The company has a market cap of $30.78 billion, a PE ratio of 170.61 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63.

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

About CoStar Group

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.