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

Bryn Mawr Capital Management LLC bought a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 2,193 shares of the technology company’s stock, valued at approximately $157,000.

Several other institutional investors also recently made changes to their positions in the stock. ORG Partners LLC boosted its position in shares of CoStar Group by 534.8% during the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after buying an additional 353 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of CoStar Group during the fourth quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. boosted 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 buying an additional 513 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of CoStar Group during the third quarter worth approximately $40,000. Finally, CENTRAL TRUST Co boosted its position in shares of CoStar Group by 1,825.5% during the fourth quarter. CENTRAL TRUST Co now owns 982 shares of the technology company’s stock worth $70,000 after buying an additional 931 shares during the period. 96.60% of the stock is owned by institutional investors.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $76.79 on Friday. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38. The stock has a fifty day moving average of $73.86 and a 200-day moving average of $75.42. The company has a market capitalization of $31.48 billion, a PE ratio of 219.40 and a beta of 0.87. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 EPS 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 company had revenue of $709.40 million during the quarter, compared to the consensus estimate of $703.00 million. As a group, equities 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 initiated a stock repurchase plan on Tuesday, February 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the sale, the insider now directly owns 58,798 shares of the company’s stock, valued at $4,696,784.24. The trade was a 8.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.57% of the company’s stock.

Analyst Ratings Changes

CSGP has been the subject of several analyst reports. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research 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 research report on Wednesday. Royal Bank of Canada reiterated a “sector perform” rating and set a $83.00 price objective on shares of CoStar Group in a research report on Wednesday. Keefe, Bruyette & Woods reduced their price objective on CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research report on Tuesday, January 28th. Finally, Stephens restated an “overweight” rating and issued a $103.00 target price on shares of CoStar Group in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, CoStar Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

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.