Kirtland Hills Capital Management LLC Lowers Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Kirtland Hills Capital Management LLC decreased its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 7.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 6,803 shares of the technology company’s stock after selling 558 shares during the period. Kirtland Hills Capital Management LLC’s holdings in CoStar Group were worth $513,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Crewe Advisors LLC acquired a new stake in CoStar Group in the 1st quarter worth about $31,000. Ashton Thomas Securities LLC purchased a new stake in CoStar Group in the third quarter valued at approximately $40,000. Industrial Alliance Investment Management Inc. acquired a new position in CoStar Group during the second quarter worth approximately $49,000. Quarry LP purchased a new stake in CoStar Group during the second quarter valued at about $54,000. Finally, Covestor Ltd lifted its stake in shares of CoStar Group by 43.0% in the 1st quarter. Covestor Ltd now owns 702 shares of the technology company’s stock valued at $68,000 after purchasing an additional 211 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Price Performance

Shares of NASDAQ CSGP opened at $72.09 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The firm has a market capitalization of $29.55 billion, a PE ratio of 163.84 and a beta of 0.82. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38. The business’s fifty day moving average price is $75.56 and its two-hundred day moving average price is $77.08.

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 the consensus estimate of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The firm 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 firm posted $0.25 EPS. CoStar Group’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, research analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on CSGP shares. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of CoStar Group in a research note on Tuesday. JMP Securities reissued a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research report on Friday, September 6th. Royal Bank of Canada cut shares of CoStar Group from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $96.00 to $83.00 in a report on Wednesday, October 23rd. BMO Capital Markets dropped their target price on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. reduced their price target on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CoStar Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.25.

Insider Buying and Selling

In related news, CEO Andrew C. Florance purchased 14,731 shares of the company’s stock in a transaction on Friday, October 25th. The shares were bought at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the transaction, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. This represents a 1.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael R. Klein sold 71,633 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. This trade represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company’s stock.

CoStar Group 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.