Dynasty Wealth Management LLC Buys 11,770 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Dynasty Wealth Management LLC lifted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 281.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,952 shares of the technology company’s stock after acquiring an additional 11,770 shares during the quarter. Dynasty Wealth Management LLC’s holdings in CoStar Group were worth $1,142,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ORG Partners LLC increased its stake in CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after buying an additional 353 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of CoStar Group in the fourth quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. grew its position 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 bought a new stake in CoStar Group during the 3rd quarter valued at approximately $40,000. Finally, Centricity Wealth Management LLC purchased a new position in CoStar Group in the 4th quarter worth approximately $40,000. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Stock Up 2.5 %

NASDAQ CSGP opened at $76.25 on Friday. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The firm has a market capitalization of $31.27 billion, a price-to-earnings ratio of 217.86 and a beta of 0.87. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average of $74.30 and a two-hundred day moving average of $75.52.

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

CoStar Group announced that its Board of Directors has initiated a share buyback program on Tuesday, February 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CSGP. Needham & Company LLC cut their price objective on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $83.00 target price on shares of CoStar Group in a research note on Wednesday, February 19th. Piper Sandler started coverage on shares of CoStar Group in a research note on Friday. They issued an “overweight” rating on the stock. William Blair initiated coverage on shares of CoStar Group in a report on Friday. They set a “market perform” rating for the company. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, CoStar Group presently has an average rating of “Moderate Buy” and an average price target of $88.07.

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.