CenterBook Partners LP Invests $333,000 in CoStar Group, Inc. (NASDAQ:CSGP)

CenterBook Partners LP acquired a new stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,656 shares of the technology company's stock, valued at approximately $333,000.

Several other hedge funds have also modified their holdings of CSGP. Hopwood Financial Services Inc. purchased a new position in CoStar Group during the fourth quarter worth approximately $25,000. ORG Partners LLC increased its holdings 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 acquiring an additional 353 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in CoStar Group during the fourth quarter valued at $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of CoStar Group in the fourth quarter valued at about $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC raised its position in shares of CoStar Group by 414.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock worth $36,000 after purchasing an additional 402 shares during the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CSGP has been the subject of several research reports. Piper Sandler initiated coverage on CoStar Group in a research note on Friday, February 28th. They set an "overweight" rating for the company. StockNews.com lowered shares of CoStar Group from a "hold" rating to a "sell" rating in a report on Wednesday, January 15th. Royal Bank of Canada reissued a "sector perform" rating and issued a $83.00 price target on shares of CoStar Group in a research note on Thursday. Wells Fargo & Company dropped their price objective on shares of CoStar Group from $65.00 to $63.00 and set an "underweight" rating for the company in a research note on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating and a $89.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, CoStar Group currently has an average rating of "Moderate Buy" and a consensus price target of $87.54.

CoStar Group Trading Up 0.9 %

CSGP traded up $0.68 on Friday, hitting $79.70. The company had a trading volume of 2,033,905 shares, compared to its average volume of 2,741,319. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm has a market cap of $32.69 billion, a P/E ratio of 227.71 and a beta of 0.88. The company's fifty day moving average price is $77.41 and its 200 day moving average price is $75.88. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $93.94.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The firm had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. As a group, equities analysts expect 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 stock buyback plan on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Insider Activity at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction of $139,745.10. Following the sale, the chief accounting officer now directly owns 29,456 shares in the company, valued at $2,353,534.40. This represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.57% of the company's stock.

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.