Bryn Mawr Capital Management LLC Makes New $398,000 Investment in CoStar Group, Inc. (NASDAQ:CSGP)

Bryn Mawr Capital Management LLC acquired a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,566 shares of the technology company’s stock, valued at approximately $398,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CSGP. International Assets Investment Management LLC acquired a new position in shares of CoStar Group during the third quarter worth about $2,481,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of CoStar Group by 60.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,975 shares of the technology company’s stock worth $1,281,000 after purchasing an additional 6,386 shares in the last quarter. Pallas Capital Advisors LLC acquired a new position in shares of CoStar Group during the third quarter worth about $342,000. abrdn plc lifted its stake in shares of CoStar Group by 72.5% during the third quarter. abrdn plc now owns 130,150 shares of the technology company’s stock worth $9,803,000 after purchasing an additional 54,713 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of CoStar Group by 111.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 5,198 shares of the technology company’s stock worth $392,000 after purchasing an additional 2,742 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on CSGP. Keefe, Bruyette & Woods cut their price target on CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 28th. Citigroup cut their price target on CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Needham & Company LLC cut their price target on CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. JPMorgan Chase & Co. cut their price target on CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 19th. Finally, William Blair reiterated an “outperform” rating on shares of CoStar Group in a research note on Wednesday, February 19th. Two investment 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, the company has a consensus rating of “Moderate Buy” and an average target price of $88.00.

CoStar Group Stock Down 3.3 %

Shares of CoStar Group stock opened at $74.36 on Friday. 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 firm has a market cap of $30.50 billion, a P/E ratio of 212.46 and a beta of 0.87. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The business has a 50-day moving average price of $74.21 and a 200 day moving average price of $75.49.

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

CoStar Group declared that its board has approved a stock buyback plan on Tuesday, February 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are usually 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.