Timessquare Capital Management Lowers stake in CoStar Group Inc (CSGP)

CoStar Group Inc (CSGP) : Timessquare Capital Management reduced its stake in CoStar Group Inc by 18.01% during the most recent quarter end. The investment management company now holds a total of 881,685 shares of CoStar Group Inc which is valued at $183,249,410 after selling 193,620 shares in CoStar Group Inc , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.CoStar Group Inc makes up approximately 1.16% of Timessquare Capital Management’s portfolio.

Other Hedge Funds, Including , United Services Automobile Association reduced its stake in CSGP by selling 700 shares or 1.38% in the most recent quarter. The Hedge Fund company now holds 50,204 shares of CSGP which is valued at $10,434,399. CoStar Group Inc makes up approx 0.04% of United Services Automobile Association’s portfolio. Columbia Partners L L C Investment Management added CSGP to its portfolio by purchasing 4,493 company shares during the most recent quarter which is valued at $933,825. CoStar Group Inc makes up approx 0.07% of Columbia Partners L L C Investment Management’s portfolio. Trexquant Investment Lp sold out all of its stake in CSGP during the most recent quarter. The investment firm sold 3,059 shares of CSGP which is valued $635,783.Conestoga Capital Advisors reduced its stake in CSGP by selling 23,345 shares or 14.16% in the most recent quarter. The Hedge Fund company now holds 141,556 shares of CSGP which is valued at $31,452,328. CoStar Group Inc makes up approx 2.29% of Conestoga Capital Advisors’s portfolio.

CoStar Group Inc opened for trading at $207.68 and hit $209.77 on the upside on Tuesday, eventually ending the session at $208.6, with a gain of 0.48% or 0.99 points. The heightened volatility saw the trading volume jump to 1,25,720 shares. Company has a market cap of $6,801 M.

On the company’s financial health, CoStar Group Inc reported $0.91 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.83. The company had revenue of $207.00 million for the quarter, compared to analysts expectations of $205.58 million. The company’s revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS.

Many Wall Street Analysts have commented on CoStar Group Inc. Needham Resumed CoStar Group Inc on Aug 22, 2016 to “Buy”, Price Target of the shares are set at $240.

CoStar Group Inc. (CoStar) is a provider of information analytics and online marketplaces to the commercial real estate industry. The Company has five flagship brands: CoStar LoopNet Apartments.com BizBuySell and LandsofAmerica. The Company has operations in the United States Canada the United Kingdom and France. The Company delivers its commercial real estate content to the United States customers primarily through an integrated suite of online service offerings that includes information about space available for lease comparable sales information information about properties for sale tenant information Internet marketing services analytical capabilities information for clients’ Websites information about industry professionals and their business relationships data integration and industry news. It also operates complementary online marketplaces for commercial real estate listings and apartment rentals.

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