Katamaran Capital LLP Acquires Shares of 61,235 CoStar Group, Inc. (NASDAQ:CSGP)

Katamaran Capital LLP purchased a new position 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 firm purchased 61,235 shares of the technology company's stock, valued at approximately $4,384,000. CoStar Group accounts for about 5.6% of Katamaran Capital LLP's portfolio, making the stock its 4th biggest position.

Several other large investors have also added to or reduced their stakes in the stock. Benjamin Edwards Inc. lifted its stake in shares of CoStar Group by 652.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 22,521 shares of the technology company's stock valued at $1,699,000 after purchasing an additional 19,529 shares during the period. Hilltop Holdings Inc. bought a new stake in shares of CoStar Group during the 3rd quarter valued at $426,000. Investment Management Corp of Ontario grew its position in shares of CoStar Group by 48.4% in the 3rd quarter. Investment Management Corp of Ontario now owns 13,494 shares of the technology company's stock worth $1,018,000 after buying an additional 4,400 shares during the period. IHT Wealth Management LLC increased its stake in shares of CoStar Group by 16.1% in the 3rd quarter. IHT Wealth Management LLC now owns 4,074 shares of the technology company's stock worth $307,000 after acquiring an additional 565 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its position in CoStar Group by 1.7% during the 3rd quarter. Royal London Asset Management Ltd. now owns 392,387 shares of the technology company's stock valued at $29,602,000 after acquiring an additional 6,500 shares during the period. Institutional investors own 96.60% of the company's stock.

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Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. William Blair started coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a "market perform" rating for the company. JMP Securities reaffirmed a "market outperform" rating and set a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. StockNews.com downgraded CoStar Group from a "hold" rating to a "sell" rating in a report on Wednesday, January 15th. Royal Bank of Canada restated a "sector perform" rating and set a $83.00 price target on shares of CoStar Group in a report on Wednesday, February 19th. Finally, Citigroup lowered their price target on CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued 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 $88.07.

CoStar Group Stock Performance

NASDAQ CSGP traded down $3.63 during trading hours on Thursday, hitting $75.07. 1,529,592 shares of the company's stock traded hands, compared to its average volume of 2,723,047. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $93.94. The firm has a market capitalization of $30.79 billion, a P/E ratio of 214.37 and a beta of 0.88. 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 business's fifty day moving average price is $77.26 and its two-hundred day moving average price is $75.74.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released 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 net margin of 5.07% and a return on equity of 3.11%. The company had revenue of $709.40 million for the quarter, compared to analysts' expectations of $703.00 million. Equities research analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group declared that its Board of Directors has approved a share repurchase plan on Tuesday, February 18th that permits the company to buyback $500.00 million in 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 typically an indication that the company's management 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 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 completion of the transaction, the chief accounting officer now owns 29,456 shares of the company's stock, valued at $2,353,534.40. This represents a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.57% of the stock is currently owned by corporate insiders.

CoStar Group Company 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.