Tower Research Capital LLC TRC Boosts Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Tower Research Capital LLC TRC grew its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 14.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,125 shares of the technology company’s stock after purchasing an additional 3,614 shares during the period. Tower Research Capital LLC TRC’s holdings in CoStar Group were worth $2,013,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Hopwood Financial Services Inc. purchased a new stake in CoStar Group in the fourth quarter valued at approximately $25,000. ORG Partners LLC raised its holdings in shares of CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after buying an additional 353 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of CoStar Group in the 4th quarter valued at $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in CoStar Group during the 4th quarter worth about $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its holdings in CoStar Group by 414.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company’s stock valued at $36,000 after acquiring an additional 402 shares during the period. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction of $139,745.10. Following the transaction, the chief accounting officer now directly owns 29,456 shares in the company, valued at approximately $2,353,534.40. This trade represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.57% of the stock is currently owned by corporate insiders.

CoStar Group Stock Up 3.9 %

Shares of NASDAQ:CSGP opened at $80.87 on Wednesday. The firm has a 50 day simple moving average of $77.72 and a 200-day simple moving average of $76.00. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $93.94. 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 company has a market capitalization of $33.17 billion, a PE ratio of 231.06 and a beta of 0.88.

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

CoStar Group declared that its board has approved a share repurchase plan on Tuesday, February 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows 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 board believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CSGP. Craig Hallum initiated coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a “buy” rating on the stock. JPMorgan Chase & Co. cut their target price on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 19th. William Blair initiated coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a “market perform” rating for the company. Deutsche Bank Aktiengesellschaft began coverage on CoStar Group in a research report on Friday, February 28th. They set a “buy” rating and a $89.00 price objective on the stock. Finally, Piper Sandler began coverage on CoStar Group in a report on Friday, February 28th. They issued an “overweight” rating for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, CoStar Group presently has a consensus rating of “Moderate Buy” and an average target price of $87.54.

About CoStar Group

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.