OFI Invest Asset Management Buys Shares of 40,000 CoStar Group, Inc. (NASDAQ:CSGP)

OFI Invest Asset Management purchased a new position in CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 40,000 shares of the technology company’s stock, valued at approximately $2,765,000.

Other large investors have also recently made changes to their positions in the company. ORG Partners LLC boosted its stake in CoStar Group by 534.8% during the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after purchasing an additional 353 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in CoStar Group during the fourth quarter worth about $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in CoStar Group during the fourth quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in CoStar Group by 17,100.0% in the 4th 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. Finally, Ashton Thomas Securities LLC acquired a new stake in CoStar Group in the 3rd quarter valued at about $40,000. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on CSGP shares. Needham & Company LLC cut their price target on CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. JMP Securities reaffirmed a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research note on Monday, December 16th. Citigroup lowered their price target on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Craig Hallum initiated coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a “buy” rating for the company. Finally, Keefe, Bruyette & Woods decreased their target price 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. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.07.

CoStar Group Trading Up 3.3 %

Shares of NASDAQ CSGP opened at $79.39 on Friday. The stock has a fifty day simple moving average of $74.73 and a 200-day simple moving average of $75.63. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $32.56 billion, a PE ratio of 226.83 and a beta of 0.93.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting 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 analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group announced that its board has authorized a share repurchase program on Tuesday, February 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are typically 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.