Enhancing Capital LLC Acquires New Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Enhancing Capital LLC purchased a new position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,659 shares of the technology company's stock, valued at approximately $477,000.

Other institutional investors have also bought and sold shares of the company. Xponance Inc. grew its position in shares of CoStar Group by 1.7% during the fourth quarter. Xponance Inc. now owns 56,155 shares of the technology company's stock valued at $4,020,000 after purchasing an additional 957 shares in the last quarter. Intech Investment Management LLC grew its position in shares of CoStar Group by 205.8% during the fourth quarter. Intech Investment Management LLC now owns 21,632 shares of the technology company's stock valued at $1,549,000 after purchasing an additional 14,559 shares in the last quarter. Generali Asset Management SPA SGR purchased a new position in shares of CoStar Group during the fourth quarter valued at about $237,000. Cibc World Markets Corp grew its position in shares of CoStar Group by 11.6% during the fourth quarter. Cibc World Markets Corp now owns 193,012 shares of the technology company's stock valued at $13,818,000 after purchasing an additional 20,139 shares in the last quarter. Finally, Polen Capital Management LLC purchased a new position in shares of CoStar Group during the fourth quarter valued at about $465,134,000. Hedge funds and other institutional investors own 96.60% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CSGP. Craig Hallum started coverage on CoStar Group in a research report on Friday, February 28th. They set a "buy" rating for the company. Citigroup lowered their price target on shares of CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Needham & Company LLC lowered their price target 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. StockNews.com downgraded shares of CoStar Group from a "hold" rating to a "sell" rating in a report on Wednesday, January 15th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a "buy" rating and a $89.00 price target for the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $88.07.

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CoStar Group Trading Down 0.7 %

NASDAQ CSGP traded down $0.56 during trading on Friday, hitting $78.46. The stock had a trading volume of 4,383,489 shares, compared to its average volume of 2,542,789. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. The stock has a market capitalization of $32.18 billion, a price-to-earnings ratio of 224.17 and a beta of 0.93. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $97.73. The stock has a 50 day simple moving average of $76.15 and a 200 day simple moving average of $75.74.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting analysts' consensus estimates of $0.22. The business had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. Sell-side analysts predict that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group declared that its Board of Directors has approved a share buyback program on Tuesday, February 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its stock is undervalued.

Insider Transactions at CoStar Group

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 of the company's stock, 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 can be accessed through this link. Corporate insiders own 1.57% of the company's stock.

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.