Connor Clark & Lunn Investment Management Ltd. Raises Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 410.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,007 shares of the technology company’s stock after buying an additional 32,165 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in CoStar Group were worth $2,864,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Apollon Wealth Management LLC bought a new stake in shares of CoStar Group in the third quarter worth about $278,000. GSA Capital Partners LLP purchased a new stake in CoStar Group in the 3rd quarter worth approximately $230,000. KBC Group NV grew its position in shares of CoStar Group by 14.7% in the 3rd quarter. KBC Group NV now owns 83,823 shares of the technology company’s stock worth $6,324,000 after buying an additional 10,730 shares during the last quarter. Empirical Finance LLC increased its stake in shares of CoStar Group by 6.5% during the third quarter. Empirical Finance LLC now owns 7,881 shares of the technology company’s stock valued at $595,000 after buying an additional 482 shares during the period. Finally, Empowered Funds LLC raised its holdings in shares of CoStar Group by 7.8% during the third quarter. Empowered Funds LLC now owns 6,414 shares of the technology company’s stock valued at $484,000 after acquiring an additional 463 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

Insider Activity at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $79.90, for a total transaction of $139,745.10. Following the completion of the sale, the chief accounting officer now directly owns 29,456 shares in the company, valued at $2,353,534.40. The trade was a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.57% of the stock is owned by company insiders.

Analyst Ratings Changes

CSGP has been the topic of several recent analyst reports. Keefe, Bruyette & Woods cut their price target on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a report on Tuesday, January 28th. Needham & Company LLC reduced their price target on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Royal Bank of Canada restated a “sector perform” rating and issued a $83.00 price objective on shares of CoStar Group in a report on Wednesday, February 19th. JPMorgan Chase & Co. cut their price objective 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. Finally, Deutsche Bank Aktiengesellschaft started coverage on CoStar Group in a research report on Friday, February 28th. They issued a “buy” rating and a $89.00 target price for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, CoStar Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

CoStar Group Stock Performance

Shares of NASDAQ CSGP opened at $80.15 on Tuesday. 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 firm’s 50-day moving average price is $75.50 and its 200-day moving average price is $75.68. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38. The company has a market cap of $32.87 billion, a PE ratio of 229.00 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates 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 net margin of 5.07% and a return on equity of 3.11%. As a group, analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group announced that its Board of Directors has initiated a stock 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 purchase 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.

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.