Bryn Mawr Capital Management LLC Takes $398,000 Position in CoStar Group, Inc. (NASDAQ:CSGP)

Bryn Mawr Capital Management LLC purchased a new stake in CoStar Group, Inc. (NASDAQ:CSGP) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 5,566 shares of the technology company’s stock, valued at approximately $398,000.

Several other hedge funds have also modified their holdings of the business. State Street Corp lifted its holdings in shares of CoStar Group by 4.4% in the 3rd quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after buying an additional 722,153 shares during the period. Geode Capital Management LLC lifted its holdings in shares of CoStar Group by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock valued at $850,656,000 after buying an additional 236,407 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of CoStar Group by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company’s stock valued at $202,509,000 after buying an additional 76,916 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of CoStar Group by 73.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after buying an additional 1,001,177 shares during the period. Finally, Barclays PLC lifted its holdings in shares of CoStar Group by 91.4% in the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after buying an additional 1,073,793 shares during the period. 96.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CSGP has been the subject of several research reports. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Wells Fargo & Company reduced their price objective on CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a report on Wednesday, February 19th. William Blair reaffirmed an “outperform” rating on shares of CoStar Group in a report on Wednesday, February 19th. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a report on Monday, December 16th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $83.00 price objective on shares of CoStar Group in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, CoStar Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

CoStar Group Stock Performance

CoStar Group 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. The stock has a fifty day moving average of $74.21 and a two-hundred day moving average of $75.49. The company has a market capitalization of $30.50 billion, a price-to-earnings ratio of 212.46 and a beta of 0.87. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38.

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, hitting the consensus estimate of $0.22. The company had revenue of $709.40 million during the quarter, compared to the consensus estimate of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. On average, analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its Board of Directors has approved a share buyback plan on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership 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.