CoStar Group, Inc. (NASDAQ:CSGP) Sees Significant Increase in Short Interest

CoStar Group, Inc. (NASDAQ:CSGP) saw a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 12,700,000 shares, an increase of 8.1% from the December 31st total of 11,750,000 shares. Based on an average daily volume of 2,840,000 shares, the short-interest ratio is presently 4.5 days.

CoStar Group Price Performance

NASDAQ CSGP opened at $76.91 on Tuesday. The stock’s 50-day moving average is $74.67 and its two-hundred day moving average is $75.41. CoStar Group has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. 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 cap of $31.53 billion, a P/E ratio of 174.73 and a beta of 0.87.

Insider Buying and Selling at CoStar Group

In related news, insider Michael J. Desmarais sold 5,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the transaction, the insider now directly owns 58,798 shares of the company’s stock, valued at $4,696,784.24. This represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.57% of the company’s stock.

Institutional Trading of CoStar Group

Hedge funds have recently bought and sold shares of the stock. Quarry LP acquired a new position in CoStar Group during the second quarter worth $54,000. Sanctuary Advisors LLC bought a new stake in shares of CoStar Group during the second quarter worth $2,096,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of CoStar Group in the second quarter valued at $104,000. Centaurus Financial Inc. raised its holdings in shares of CoStar Group by 192.6% in the second quarter. Centaurus Financial Inc. now owns 6,800 shares of the technology company’s stock valued at $504,000 after buying an additional 4,476 shares during the last quarter. Finally, Czech National Bank lifted its position in CoStar Group by 7.3% during the 3rd quarter. Czech National Bank now owns 83,484 shares of the technology company’s stock worth $6,298,000 after buying an additional 5,671 shares in the last quarter. 96.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CSGP has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a report on Monday, December 9th. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Keefe, Bruyette & Woods lowered their price target on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a report on Tuesday, January 28th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $83.00 target price on shares of CoStar Group in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $92.33.

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.