TimesSquare Capital Management LLC Sells 65,380 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

TimesSquare Capital Management LLC reduced its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 8.9% in the 4th quarter, HoldingsChannel reports. The firm owned 668,986 shares of the technology company’s stock after selling 65,380 shares during the quarter. TimesSquare Capital Management LLC’s holdings in CoStar Group were worth $47,893,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ORG Partners LLC increased its stake in CoStar Group by 534.8% in the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after purchasing an additional 353 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in CoStar Group in the fourth quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. increased its stake in CoStar Group by 17,100.0% in 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. Ashton Thomas Securities LLC bought a new stake in CoStar Group in the third quarter valued at $40,000. Finally, CENTRAL TRUST Co increased its stake in CoStar Group by 1,825.5% in the fourth quarter. CENTRAL TRUST Co now owns 982 shares of the technology company’s stock valued at $70,000 after purchasing an additional 931 shares in the last quarter. 96.60% of the stock is owned by institutional investors.

CoStar Group Trading Up 1.9 %

Shares of CSGP stock opened at $75.48 on Wednesday. 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 quick ratio of 9.63 and a current ratio of 9.63. The company has a 50-day simple moving average of $73.81 and a two-hundred day simple moving average of $75.34. The company has a market capitalization of $30.94 billion, a price-to-earnings ratio of 171.54 and a beta of 0.87.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.22. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. Research analysts anticipate that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

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

Analysts Set New Price Targets

CSGP has been the subject of several recent research reports. Keefe, Bruyette & Woods decreased their target price on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research report on Tuesday, January 28th. William Blair reissued an “outperform” rating on shares of CoStar Group in a research report on Monday, January 6th. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. JPMorgan Chase & Co. decreased their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, Stephens reissued an “overweight” rating and set a $103.00 target price on shares of CoStar Group in a research report on Tuesday. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $90.23.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the transaction, the insider now directly owns 58,798 shares in the company, valued at $4,696,784.24. The trade was a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.57% of the company’s stock.

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.