CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by Sentry Investment Management LLC

Sentry Investment Management LLC cut its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 14.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,524 shares of the technology company’s stock after selling 248 shares during the quarter. Sentry Investment Management LLC’s holdings in CoStar Group were worth $109,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CSGP. ORG Partners LLC raised its holdings in shares of CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after purchasing an additional 353 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of CoStar Group during the 4th quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. grew its stake in CoStar Group by 17,100.0% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock valued at $37,000 after purchasing an additional 513 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in CoStar Group during the 3rd quarter valued at approximately $40,000. Finally, Centricity Wealth Management LLC acquired a new stake in CoStar Group during the 4th quarter valued at approximately $40,000. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

CoStar Group Stock Performance

Shares of NASDAQ CSGP opened at $76.92 on Thursday. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $31.55 billion, a price-to-earnings ratio of 219.77 and a beta of 0.87. The stock’s fifty day simple moving average is $74.12 and its 200 day simple moving average is $75.50. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.22. The business had revenue of $709.40 million for the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. As a group, sell-side analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group declared that its Board of Directors has authorized a share repurchase plan on Tuesday, February 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to buy up to 1.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have recently commented on CSGP shares. JPMorgan Chase & Co. decreased their target price on CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday, February 19th. Stephens reissued an “overweight” rating and issued a $103.00 price target on shares of CoStar Group in a report on Tuesday, February 18th. Needham & Company LLC cut their target price on CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company cut their target price on CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $83.00 price objective on shares of CoStar Group in a research note on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

About CoStar Group

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.