Bryn Mawr Capital Management LLC Buys New Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Bryn Mawr Capital Management LLC bought a new stake in CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,193 shares of the technology company’s stock, valued at approximately $157,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC boosted its holdings 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 acquiring an additional 353 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in CoStar Group in the fourth quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. lifted 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 worth $37,000 after purchasing an additional 513 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of CoStar Group during the third quarter worth about $40,000. Finally, CENTRAL TRUST Co lifted its stake in shares of CoStar Group by 1,825.5% during the fourth quarter. CENTRAL TRUST Co now owns 982 shares of the technology company’s stock worth $70,000 after purchasing an additional 931 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Keefe, Bruyette & Woods reduced their price objective on CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 28th. JMP Securities restated a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research note on Monday, December 16th. Wells Fargo & Company reduced their price objective on CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a research note on Wednesday. Stephens restated an “overweight” rating and set a $103.00 price objective on shares of CoStar Group in a research note on Tuesday, February 18th. Finally, StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $88.00.

Insider Activity at CoStar Group

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

CoStar Group Stock Down 2.0 %

Shares of NASDAQ CSGP opened at $76.79 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. The firm has a market cap of $31.48 billion, a price-to-earnings ratio of 219.40 and a beta of 0.87. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38. The stock’s 50-day simple moving average is $73.86 and its 200-day simple moving average is $75.42.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. The firm had revenue of $709.40 million during the quarter, compared to analyst estimates 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 analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group declared that its board has approved a stock buyback plan on Tuesday, February 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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.