Postrock Partners LLC Buys Shares of 11,440 CoStar Group, Inc. (NASDAQ:CSGP)

Postrock Partners LLC purchased a new position in CoStar Group, Inc. (NASDAQ:CSGP) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 11,440 shares of the technology company’s stock, valued at approximately $819,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CSGP. Hopwood Financial Services Inc. acquired a new position in shares of CoStar Group during the fourth quarter valued at $25,000. ORG Partners LLC grew its position 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 during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of CoStar Group in the fourth quarter valued at approximately $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of CoStar Group in the fourth quarter valued at approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its holdings 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 buying an additional 513 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Stock Down 1.8 %

CSGP stock opened at $75.44 on Friday. The company’s 50 day simple moving average is $75.19 and its 200-day simple moving average is $75.67. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The firm has a market capitalization of $30.94 billion, a P/E ratio of 215.54 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. The business had revenue of $709.40 million during 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, equities research analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group declared that its board has authorized a share buyback program on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have weighed in on CSGP shares. JPMorgan Chase & Co. cut their target price on CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 19th. Stephens reaffirmed an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a report on Tuesday, February 18th. JMP Securities restated a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research report on Monday, December 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $83.00 price objective on shares of CoStar Group in a report on Wednesday, February 19th. Finally, Citigroup dropped their target price on CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and a consensus target price of $88.07.

CoStar Group Company Profile

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.