Los Angeles Capital Management LLC Has $605,000 Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Los Angeles Capital Management LLC cut its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 85.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,457 shares of the technology company’s stock after selling 49,380 shares during the quarter. Los Angeles Capital Management LLC’s holdings in CoStar Group were worth $605,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new stake in shares of CoStar Group in the third quarter valued at approximately $2,481,000. Wealth Enhancement Advisory Services LLC lifted its position in CoStar Group by 60.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,975 shares of the technology company’s stock worth $1,281,000 after purchasing an additional 6,386 shares during the period. abrdn plc grew its holdings in shares of CoStar Group by 72.5% during the 3rd quarter. abrdn plc now owns 130,150 shares of the technology company’s stock valued at $9,803,000 after purchasing an additional 54,713 shares during the last quarter. Chicago Partners Investment Group LLC increased its position in CoStar Group by 5.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 14,593 shares of the technology company’s stock worth $1,063,000 after purchasing an additional 781 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in CoStar Group by 1.4% in the third quarter. Van ECK Associates Corp now owns 72,346 shares of the technology company’s stock valued at $5,268,000 after buying an additional 993 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Stephens reiterated an “overweight” rating and issued a $103.00 target price on shares of CoStar Group in a research report on Tuesday, February 18th. Keefe, Bruyette & Woods cut their target price on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 28th. William Blair assumed coverage on shares of CoStar Group in a report on Friday. They set a “market perform” rating for the company. Deutsche Bank Aktiengesellschaft began coverage on CoStar Group in a report on Friday. They issued a “buy” rating and a $89.00 target price for the company. Finally, JPMorgan Chase & Co. cut their price target on CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a report on Wednesday, February 19th. 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

CoStar Group Price Performance

NASDAQ CSGP opened at $76.25 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38. The stock has a market capitalization of $31.27 billion, a price-to-earnings ratio of 217.86 and a beta of 0.87. The business’s fifty day moving average price is $74.30 and its 200-day moving average price is $75.55.

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

CoStar Group declared that its board has authorized a share buyback plan on Tuesday, February 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are 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.