Dynamic Capital Management Ltd Acquires New Stake in CoStar Group Inc (NASDAQ:CSGP)

Dynamic Capital Management Ltd acquired a new position in CoStar Group Inc (NASDAQ:CSGP) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,130 shares of the technology company’s stock, valued at approximately $1,460,000. CoStar Group makes up about 5.3% of Dynamic Capital Management Ltd’s investment portfolio, making the stock its 3rd largest holding.

A number of other institutional investors also recently added to or reduced their stakes in the business. Berman Capital Advisors LLC purchased a new position in CoStar Group in the 4th quarter valued at $28,000. Executive Wealth Management LLC acquired a new stake in shares of CoStar Group in the 4th quarter worth $32,000. Rockefeller Capital Management L.P. acquired a new stake in shares of CoStar Group in the 1st quarter worth $38,000. Icon Wealth Partners LLC acquired a new stake in shares of CoStar Group in the 1st quarter worth $90,000. Finally, ETF Managers Group LLC increased its stake in shares of CoStar Group by 17.7% in the 4th quarter. ETF Managers Group LLC now owns 365 shares of the technology company’s stock worth $123,000 after acquiring an additional 55 shares during the last quarter. Institutional investors and hedge funds own 96.06% of the company’s stock.

Shares of NASDAQ:CSGP opened at $547.89 on Thursday. The stock has a market cap of $19.91 billion, a P/E ratio of 74.04, a price-to-earnings-growth ratio of 3.61 and a beta of 1.35. CoStar Group Inc has a 12-month low of $315.85 and a 12-month high of $555.10.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, April 23rd. The technology company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.11. The firm had revenue of $328.00 million during the quarter, compared to the consensus estimate of $327.45 million. CoStar Group had a return on equity of 10.09% and a net margin of 21.76%. The company’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period last year, the company earned $1.44 EPS. Analysts predict that CoStar Group Inc will post 9 earnings per share for the current fiscal year.

A number of analysts have issued reports on the company. Zacks Investment Research downgraded CoStar Group from a “buy” rating to a “hold” rating in a research note on Monday. BidaskClub downgraded CoStar Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Bank of America raised their target price on CoStar Group from $460.00 to $550.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Needham & Company LLC raised their target price on CoStar Group from $500.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Citigroup raised their target price on CoStar Group from $490.00 to $575.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $545.50.

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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.

Further Reading: Derivative

Institutional Ownership by Quarter for CoStar Group (NASDAQ:CSGP)

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