Amalgamated Bank Lowers Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Amalgamated Bank cut its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 2.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 78,423 shares of the technology company’s stock after selling 1,897 shares during the period. Amalgamated Bank’s holdings in CoStar Group were worth $5,614,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. ORG Partners LLC increased its position in shares of CoStar Group by 534.8% during the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after purchasing an additional 353 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in CoStar Group in the fourth quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. grew its position in 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 acquiring an additional 513 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in CoStar Group during the third quarter valued at approximately $40,000. Finally, Centricity Wealth Management LLC purchased a new position in shares of CoStar Group during the fourth quarter worth approximately $40,000. Institutional investors own 96.60% of the company’s stock.

CoStar Group Price Performance

Shares of CSGP stock opened at $74.36 on Friday. 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, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The firm has a market cap of $30.50 billion, a P/E ratio of 212.46 and a beta of 0.87. The business’s 50 day moving average price is $74.21 and its 200-day moving average price is $75.49.

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

CoStar Group announced that its Board of Directors has approved a stock buyback program on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CSGP. Stephens reaffirmed an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a research note on Tuesday, February 18th. William Blair restated an “outperform” rating on shares of CoStar Group in a research report on Wednesday, February 19th. 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. Keefe, Bruyette & Woods lowered their target price on CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company reduced their price target on CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, CoStar Group currently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

CoStar Group 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.