Gulf International Bank UK Ltd Reduces Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Gulf International Bank UK Ltd cut its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 1.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 31,964 shares of the technology company’s stock after selling 312 shares during the quarter. Gulf International Bank UK Ltd’s holdings in CoStar Group were worth $2,288,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. New York Life Investment Management LLC grew its position in shares of CoStar Group by 0.8% during the fourth quarter. New York Life Investment Management LLC now owns 54,782 shares of the technology company’s stock worth $3,922,000 after acquiring an additional 446 shares during the last quarter. Bryn Mawr Capital Management LLC purchased a new position in shares of CoStar Group during the fourth quarter worth approximately $398,000. Lake Street Advisors Group LLC grew its position in shares of CoStar Group by 4.7% during the fourth quarter. Lake Street Advisors Group LLC now owns 6,374 shares of the technology company’s stock worth $456,000 after acquiring an additional 289 shares during the last quarter. Y Intercept Hong Kong Ltd grew its position in CoStar Group by 98.6% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 38,765 shares of the technology company’s stock valued at $2,775,000 after buying an additional 19,247 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in CoStar Group by 17.5% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 81,770 shares of the technology company’s stock valued at $5,854,000 after buying an additional 12,200 shares during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CSGP has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CoStar Group in a research report on Friday. They issued a “buy” rating and a $89.00 price objective on the stock. Stephens reiterated an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a research report on Tuesday, February 18th. The Goldman Sachs Group initiated coverage on shares of CoStar Group in a research report on Friday. They issued a “buy” rating on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $83.00 price objective on shares of CoStar Group in a research report on Wednesday, February 19th. Finally, Craig Hallum initiated coverage on shares of CoStar Group in a research report on Friday. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.07.

CoStar Group Trading Up 2.5 %

NASDAQ:CSGP opened at $76.25 on Friday. The company has a market capitalization of $31.27 billion, a PE ratio of 217.86 and a beta of 0.87. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38. The stock has a fifty day simple moving average of $74.30 and a 200-day simple moving average of $75.52.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. The business had revenue of $709.40 million during the quarter, compared to the consensus estimate of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. On average, equities research analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group declared that its board has initiated a stock repurchase program on Tuesday, February 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

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.