Beck Mack & Oliver LLC Increases Stock Position in CoStar Group, Inc. $CSGP

Key Points

• Beck Mack & Oliver LLC boosted its stake in CoStar Group, Inc. by 6.2%, owning a total of 1,810,537 shares valued at approximately $143.4 million.
• The stock received mixed ratings from analysts, with price targets ranging from $70.00 to $105.00, leading to a consensus rating of "Moderate Buy."
• CoStar Group reported a 15.2% year-over-year revenue increase for the last quarter, surpassing expectations with earnings of $0.17 per share against a consensus estimate of $0.14.

Beck Mack & Oliver LLC increased its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,810,537 shares of the technology company's stock after purchasing an additional 105,194 shares during the period. CoStar Group accounts for approximately 2.9% of Beck Mack & Oliver LLC's investment portfolio, making the stock its 12th biggest position. Beck Mack & Oliver LLC owned approximately 0.43% of CoStar Group worth $143,449,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CSGP. Mizuho Markets Americas LLC acquired a new position in shares of CoStar Group during the 1st quarter worth about $586,403,000. Vanguard Group Inc. raised its holdings in CoStar Group by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 68,426,711 shares of the technology company's stock valued at $5,421,448,000 after acquiring an additional 2,709,320 shares during the last quarter. Nuveen LLC acquired a new stake in CoStar Group in the 1st quarter valued at about $82,756,000. Kensico Capital Management Corp acquired a new stake in CoStar Group in the 4th quarter valued at about $51,244,000. Finally, Royal Bank of Canada raised its holdings in CoStar Group by 87.4% in the 4th quarter. Royal Bank of Canada now owns 1,452,442 shares of the technology company's stock valued at $103,981,000 after acquiring an additional 677,222 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on CSGP. Robert W. Baird increased their price objective on shares of CoStar Group from $100.00 to $105.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Wells Fargo & Company reiterated an "underweight" rating and issued a $70.00 price objective (up previously from $65.00) on shares of CoStar Group in a report on Wednesday, July 16th. Keefe, Bruyette & Woods increased their price objective on shares of CoStar Group from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. BMO Capital Markets increased their price objective on shares of CoStar Group from $82.00 to $89.00 and gave the company a "market perform" rating in a report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of CoStar Group from $87.00 to $101.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $94.15.

Insider Activity at CoStar Group

In other CoStar Group news, insider Frederick G. Saint sold 25,000 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $93.23, for a total value of $2,330,750.00. Following the completion of the transaction, the insider owned 319,539 shares of the company's stock, valued at $29,790,620.97. This trade represents a 7.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Cynthia Cammett Cann sold 2,033 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $92.85, for a total transaction of $188,764.05. Following the completion of the transaction, the chief accounting officer directly owned 25,771 shares of the company's stock, valued at $2,392,837.35. This represents a 7.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,033 shares of company stock valued at $4,777,764 in the last three months. 1.09% of the stock is currently owned by corporate insiders.

CoStar Group Trading Up 1.4%

Shares of NASDAQ:CSGP traded up $1.24 during mid-day trading on Thursday, reaching $89.10. 1,652,614 shares of the company were exchanged, compared to its average volume of 3,130,684. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.83 and a quick ratio of 5.83. The firm has a market cap of $37.75 billion, a price-to-earnings ratio of 356.40, a P/E/G ratio of 4.36 and a beta of 0.87. The firm's 50-day simple moving average is $88.45 and its 200 day simple moving average is $81.43. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $97.43.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The technology company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03. CoStar Group had a net margin of 3.57% and a return on equity of 2.88%. The company had revenue of $781.30 million during the quarter, compared to analysts' expectations of $772.06 million. During the same quarter last year, the company posted $0.15 EPS. The firm's revenue was up 15.2% compared to the same quarter last year. CoStar Group has set its FY 2025 guidance at 0.780-0.800 EPS. Q3 2025 guidance at 0.150-0.17 EPS. Equities research analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current year.

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.