The Vanguard Group, Inc. recently announced the acquisition of new stake in CoStar Group Inc. (NASDAQ:CSGP). The institutional investor has increased its shareholding in the Real Estate company by 4.13% to 43.11 million shares with purchase of 1.71 million shares. This fresh investment now brings its stake to 10.55% valued currently at $3.32 billion. In addition, SSgA Funds Management, Inc. raised its holdings by 0.48 million to 15.11 million shares. And Massachusetts Financial Services has lifted its position by 3.71% or 0.41 million shares – to 11.54 million shares.
With over 1.68 million CoStar Group Inc. (CSGP) shares trading Tuesday and a closing price of $78.50 on the day, the dollar volume was approximately $131.79 million. The shares have shown a negative half year performance of -2.85% and its price on 05/23/23 lost nearly -1.69%. Currently, there are 404.49M common shares owned by the public and among those 402.42M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 15 analysts who have offered their price forecasts for CSGP have a consensus price objective of $86.38. The analysts have set the share’s price value over the next 12 months at a high of $102.00 and a low of $65.00. The average price target is 9.12% above its recent price level and a downside to the estimated low will see the stock lose -20.77% over that period. But an upside of 23.04% will see the stock hit the forecast high price target while median target price for the stock is $87.00.
Insiders at the company have transacted a total of 60 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 24 of these insider trades were purchases, accounting for 1,089,872 shares. Insider sales of the common stock occurred on 36 occasions, with total insider shares sold totaling 829,365 shares.
The top 3 mutual fund holders in CoStar Group Inc. are Vanguard Total Stock Market ETF, Principal Funds, Inc. – Mid Cap F, and Vanguard Mid Cap Index Fund. Vanguard Total Stock Market ETF owns 12.6 million shares of the company’s stock, all valued at over $969.77 million. The company bought an additional 89026.0 shares recently to bring their total holdings to about 3.09% of the shares outstanding. Principal Funds, Inc. – Mid Cap F sold -0.14 million shares to see its total holdings shrink to 10.59 million shares valued at over $815.28 million and representing 2.59% of the shares outstanding. Vanguard Mid Cap Index Fund bought 8922.0 shares to bring its total holdings to over 9.5 million shares at a value of $731.12 million. Vanguard Mid Cap Index Fund now owns shares totaling to 2.33% of the shares outstanding.
Shares of CoStar Group Inc. (NASDAQ: CSGP) opened at $79.69, down -$0.16 from a prior closing price of $79.85. However, the script later moved the day high at 79.82, down -1.69%. The company’s stock has a 5-day price change of 3.47% and 8.83% over the past three months. CSGP shares are trading 1.58% year to date (YTD), with the 12-month market performance up to 37.33% higher. It has a 12-month low price of $54.02 and touched a high of $85.37 over the same period. CSGP has an average intraday trading volume of 1.95 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.22%, 10.45%, and 5.04% respectively.
Institutional ownership of CoStar Group Inc. (NASDAQ: CSGP) shares accounts for 99.75% of the company’s 404.49M shares outstanding. Mutual fund holders own 32.33%, while other institutional holders and individual stakeholders account for 63.65% and 1.32% respectively.
It has a market capitalization of $31.88B and a beta (3y monthly) value of 0.88. The stock’s trailing 12-month PE ratio is 85.79, while the earnings-per-share (ttm) stands at $0.92. The company has a PEG of 4.29 and a Quick Ratio of 13.20 with the debt-to-equity ratio at 0.14. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.14% over the week and 2.32% over the month.
Analysts forecast that CoStar Group Inc. (CSGP) will achieve an EPS of $0.3 for the current quarter, $0.3 for the next quarter and $1.51 for 2024. The lowest estimate earnings-per-share for the quarter is $0.29 while analysts give the company a high EPS estimate of $0.3. Comparatively, EPS for the current quarter was $0.28 a year ago. Earnings per share for the fiscal year are expected to increase by 25.10%, and 22.47% over the next financial year. EPS should shrink at an annualized rate of 20.00% over the next five years, compared to 21.90% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 15 brokerage firm advisors rate CoStar Group Inc. (CSGP) as a “Strong Buy” at a consensus score of 1.80. Specifically, 11 Wall Street analysts polled rate the stock as a buy, while 3 of the 15 advise that investors “hold,” and 0 rated it as a “Sell.”
