Mizuho Securities USA LLC Buys 12,281 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Mizuho Securities USA LLC increased its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 46.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 38,855 shares of the technology company’s stock after buying an additional 12,281 shares during the quarter. Mizuho Securities USA LLC’s holdings in CoStar Group were worth $2,782,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. acquired a new position in shares of CoStar Group during the fourth quarter worth $25,000. ORG Partners LLC increased its holdings in 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 in the last quarter. SBI Securities Co. Ltd. bought a new position in CoStar Group in the fourth quarter valued at about $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of CoStar Group during the fourth quarter valued at about $32,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of CoStar Group by 17,100.0% during the fourth 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. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Price Performance

Shares of CSGP opened at $80.14 on Tuesday. The firm has a market cap of $32.87 billion, a PE ratio of 228.97 and a beta of 0.93. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $97.64. The business’s 50 day moving average price is $76.36 and its two-hundred day moving average price is $75.75. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96.

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

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CSGP. The Goldman Sachs Group assumed coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “buy” rating for the company. Stephens reaffirmed an “overweight” rating and set a $103.00 price target on shares of CoStar Group in a research note on Tuesday, February 18th. Piper Sandler initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued an “overweight” rating on the stock. Craig Hallum began coverage on CoStar Group in a research report on Friday, February 28th. They set a “buy” rating for the company. Finally, JPMorgan Chase & Co. reduced their price target on CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.07.

Insider Activity

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction on Monday, March 10th. The shares were sold at an average price of $79.90, for a total value of $139,745.10. Following the completion of the sale, the chief accounting officer now owns 29,456 shares of the company’s stock, valued at approximately $2,353,534.40. This trade represents a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.57% of the stock is currently owned by company insiders.

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.