SEC Watch Reporter: Costar Group INC Com (CSGP) Shareholder Timpani Capital Management LLC Lowered Stake by $4.17 Million as Shares Declined

SEC Watch Reporter: Costar Group INC Com (CSGP) Shareholder Timpani Capital Management LLC Lowered Stake by $4.17 Million as Shares Declined

Timpani Capital Management Llc decreased its stake in Costar Group Inc Com (CSGP) by 68.86% based on its latest 2016Q3 regulatory filing with the SEC. Timpani Capital Management Llc sold 19,290 shares as the company’s stock declined 0.89% while stock markets rallied. The institutional investor held 8,724 shares of the miscellaneous company at the end of 2016Q3, valued at $1.89 million, down from 28,014 at the end of the previous reported quarter. Timpani Capital Management Llc who had been investing in Costar Group Inc Com for a number of months, seems to be less bullish one the $6.35 billion market cap company. The stock increased 0.92% or $1.77 during the last trading session, hitting $194.2. CoStar Group Inc (NASDAQ:CSGP) has declined 8.18% since June 7, 2016 and is downtrending. It has underperformed by 15.60% the S&P500.

Timpani Capital Management Llc, which manages about $202.98M and $251.48M US Long portfolio, upped its stake in Shopify Inc by 94,805 shares to 119,183 shares, valued at $5.12M in 2016Q3, according to the filing.

Timpani Capital Management Llc is a Wisconsin-based institutional investor with more than $202.98 million AUM in September, 2014. Taken from Timpani Capital Management latest Adv, the fund reported to have 10 full and part-time employees. Among which 3 performing investment advisory and research functions. The institutional investor had between 1-10 clients.

Insitutional Activity: The institutional sentiment decreased to 0.7 in 2016 Q3. Its down 0.32, from 1.02 in 2016Q2. The ratio is negative, as 30 funds sold all CSGP shares owned while 98 reduced positions. 25 funds bought stakes while 64 increased positions. They now own 30.88 million shares or 2.40% less from 31.64 million shares in 2016Q2. 1St Advsrs Inc holds 0.06% of its portfolio in CoStar Group Inc (NASDAQ:CSGP) for 1,962 shares. Arrowpoint Asset Mngmt Lc, a Colorado-based fund reported 144,984 shares. Kornitzer Capital Mgmt Incorporated Ks holds 110,909 shares or 0.43% of its portfolio. Pioneer Inv holds 0.09% or 109,890 shares in its portfolio. M&T Savings Bank accumulated 2,929 shares or 0% of the stock. Wells Fargo Mn has 1.38 million shares for 0.11% of their US portfolio. Blackrock Fund Advisors reported 311,292 shares or 0.01% of all its holdings. Envestnet Asset Management, a Illinois-based fund reported 24,890 shares. The Tennessee-based Delta Asset Mgmt Ltd Tn has invested 0.01% in CoStar Group Inc (NASDAQ:CSGP). Bnp Paribas Arbitrage reported 476 shares or 0% of all its holdings. Peak6 Invests Ltd Partnership has 0% invested in the company for 2,637 shares. Bamco Inc New York holds 3.32% of its portfolio in CoStar Group Inc (NASDAQ:CSGP) for 2.89 million shares. Qs Investors Limited Liability Corporation holds 0% or 3 shares in its portfolio. Cibc Asset Management holds 0% of its portfolio in CoStar Group Inc (NASDAQ:CSGP) for 1,040 shares. Columbia Wanger Asset Ltd Company holds 0.31% or 108,015 shares in its portfolio.

Insider Transactions: Since August 1, 2016, the stock had 0 insider purchases, and 1 sale for $1.03 million net activity. On Monday, August 1 the insider Glosserman Michael J sold $1.03M.

Analysts await CoStar Group Inc (NASDAQ:CSGP) to report earnings on February, 22. They expect $1.07 EPS, up 16.30% or $0.15 from last year’s $0.92 per share. CSGP’s profit will be $34.99M for 45.37 P/E if the $1.07 EPS becomes a reality. After $0.94 actual EPS reported by CoStar Group Inc for the previous quarter, Wall Street now forecasts 13.83% EPS growth.

More notable recent CoStar Group Inc (NASDAQ:CSGP) news were published by: Fool.com which released: “CoStar Group, Inc. Widens Its Lead in the Multifamily Arena” on October 28, 2016, also Bizjournals.com with their article: “CoStar sues the competitor it bolstered with its LoopNet merger” published on December 14, 2016, Prnewswire.com published: “CoStar Group Selects Richmond to Headquarter Research Center for Nation’s …” on October 24, 2016. More interesting news about CoStar Group Inc (NASDAQ:CSGP) were released by: Prnewswire.com and their article: “CoStar Group Debuts on Fortune Magazine’s 100 Fastest Growing Companies List” published on October 06, 2016 as well as Fool.com‘s news article titled: “Apartments.com Dominance Fuels CoStar Group, Inc. Earnings” with publication date: August 09, 2016.

According to Zacks Investment Research, “CoStar Group, Inc. provides information services to the commercial real estate industry. Their wide array of digital service offerings includes a leasing marketplace, a selling marketplace, sales comparable information, decision support, contact management, tenant information, property marketing, and industry news. They have three assets that provide a unique foundation for this marketplace: comprehensive national databases; large research department; and large number of participating organizations.”

CoStar Group Inc (NASDAQ:CSGP) Ratings Coverage

Out of 3 analysts covering CoStar Group (NASDAQ:CSGP), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. CoStar Group has been the topic of 4 analyst reports since August 12, 2015 according to StockzIntelligence Inc. Zacks downgraded the stock to “Hold” rating in Wednesday, August 12 report. The company was initiated on Tuesday, December 20 by Citigroup. The stock of CoStar Group Inc (NASDAQ:CSGP) earned “Buy” rating by Needham on Monday, August 22.

CSGP Company Profile

CoStar Group, Inc. (CoStar), incorporated on February 2, 1998, is a well-known provider of information, analytics and online marketplaces to the commercial real estate industry. It manages its business through two divisions: North America, which includes the United States and parts of Canada, and International, which includes parts of the United Kingdom, Spain and France. The Firm owns and operates online marketplaces for commercial real estate and apartment listings in the United States. It has created and compiled its standardized platform of information, analytics and online marketplace services where industry professionals and clients of commercial real estate, including apartments, and the related business communities, can interact and facilitate transactions by accessing and exchanging standardized real estate-related information. The Company’s service offerings span all commercial property types, including office, retail, industrial, multifamily, commercial land, mixed-use and hospitality.

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