6,659 Shares in CoStar Group, Inc. (NASDAQ:CSGP) Acquired by Enhancing Capital LLC

Enhancing Capital LLC bought a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 6,659 shares of the technology company’s stock, valued at approximately $477,000.

A number of other hedge funds also recently modified their holdings of CSGP. Apollon Wealth Management LLC bought a new stake in shares of CoStar Group in the 3rd quarter valued at $278,000. GSA Capital Partners LLP acquired a new stake in shares of CoStar Group in the 3rd quarter valued at about $230,000. KBC Group NV increased its holdings in shares of CoStar Group by 14.7% during the third quarter. KBC Group NV now owns 83,823 shares of the technology company’s stock valued at $6,324,000 after acquiring an additional 10,730 shares in the last quarter. Empirical Finance LLC grew its holdings in shares of CoStar Group by 6.5% during the third quarter. Empirical Finance LLC now owns 7,881 shares of the technology company’s stock valued at $595,000 after buying an additional 482 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in shares of CoStar Group by 7.8% in the third quarter. Empowered Funds LLC now owns 6,414 shares of the technology company’s stock worth $484,000 after purchasing an additional 463 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Price Performance

CoStar Group stock opened at $80.15 on Tuesday. The firm has a market capitalization of $32.87 billion, a P/E ratio of 229.00 and a beta of 0.93. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The business has a fifty day moving average price of $75.50 and a 200-day moving average price of $75.68.

CoStar Group (NASDAQ:CSGP) last posted its 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. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The business had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. As a group, equities research analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group declared that its Board of Directors has initiated a stock repurchase program on Tuesday, February 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the 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 $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 Securities & Exchange Commission, which is available at this hyperlink. 1.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CSGP shares. Citigroup cut their price objective on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. William Blair began coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a “market perform” rating for the company. Stephens restated an “overweight” rating and issued a $103.00 target price on shares of CoStar Group in a research note on Tuesday, February 18th. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Finally, JMP Securities reissued a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.07.

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.