MML Investors Services LLC Cuts Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

MML Investors Services LLC lowered its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 11.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,567 shares of the technology company's stock after selling 9,442 shares during the period. MML Investors Services LLC's holdings in CoStar Group were worth $5,481,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CSGP. Polen Capital Management LLC bought a new stake in shares of CoStar Group during the fourth quarter valued at approximately $465,134,000. Norges Bank bought a new stake in shares of CoStar Group in the 4th quarter worth $390,755,000. Capital International Investors raised its stake in shares of CoStar Group by 44.9% in the fourth quarter. Capital International Investors now owns 14,032,363 shares of the technology company's stock worth $1,004,578,000 after purchasing an additional 4,345,267 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of CoStar Group by 2,181.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,129,307 shares of the technology company's stock valued at $80,847,000 after purchasing an additional 1,079,815 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of CoStar Group by 91.4% during the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock valued at $169,678,000 after buying an additional 1,073,793 shares during the last quarter. Institutional investors own 96.60% of the company's stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CSGP shares. Craig Hallum began coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a "buy" rating on the stock. The Goldman Sachs Group initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a "buy" rating on the stock. StockNews.com lowered shares of CoStar Group from a "hold" rating to a "sell" rating in a research note on Wednesday, January 15th. JPMorgan Chase & Co. dropped 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, Stephens reiterated an "overweight" rating and set a $103.00 price objective on shares of CoStar Group in a research report on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, CoStar Group presently has a consensus rating of "Moderate Buy" and an average price target of $87.54.

CoStar Group Price Performance

Shares of NASDAQ CSGP traded down $1.08 during midday trading on Monday, reaching $81.74. The stock had a trading volume of 3,945,069 shares, compared to its average volume of 2,745,340. The company has a market capitalization of $33.52 billion, a price-to-earnings ratio of 233.54 and a beta of 0.88. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $93.29. The stock has a 50-day moving average of $78.20 and a 200-day moving average of $76.17. 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 - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The business had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. As a group, research analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its board has approved a share repurchase program on Tuesday, February 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

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.