Royal London Asset Management Ltd. Raises Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Royal London Asset Management Ltd. raised its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 402,286 shares of the technology company's stock after purchasing an additional 9,899 shares during the quarter. Royal London Asset Management Ltd. owned 0.10% of CoStar Group worth $28,800,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd raised its position in CoStar Group by 27.8% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 24,127 shares of the technology company's stock worth $1,726,000 after purchasing an additional 5,249 shares during the last quarter. Platinum Investment Management Ltd. raised its position in shares of CoStar Group by 40.0% during the fourth quarter. Platinum Investment Management Ltd. now owns 70,000 shares of the technology company's stock worth $5,011,000 after acquiring an additional 20,000 shares during the last quarter. Enhancing Capital LLC acquired a new position in shares of CoStar Group in the fourth quarter worth approximately $477,000. Xponance Inc. boosted its holdings in CoStar Group by 1.7% in the fourth quarter. Xponance Inc. now owns 56,155 shares of the technology company's stock valued at $4,020,000 after acquiring an additional 957 shares during the last quarter. Finally, Intech Investment Management LLC increased its position in CoStar Group by 205.8% during the 4th 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 during the period. 96.60% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

CSGP has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reduced their price objective on shares of CoStar Group from $96.00 to $93.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 28th. The Goldman Sachs Group assumed coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a "buy" rating on the stock. JMP Securities reissued a "market outperform" rating and issued a $90.00 price objective on shares of CoStar Group in a research note on Monday, December 16th. Deutsche Bank Aktiengesellschaft started coverage on CoStar Group in a research report on Friday, February 28th. They set a "buy" rating and a $89.00 target price on the stock. Finally, Craig Hallum began coverage on CoStar Group in a report on Friday, February 28th. They issued a "buy" rating for the company. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $88.07.

Insider Transactions at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the company'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 of the company's stock, valued at $2,353,534.40. This represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.57% of the stock is currently owned by company insiders.

CoStar Group Stock Up 0.2 %

CoStar Group stock traded up $0.14 during trading on Wednesday, hitting $80.37. 1,938,413 shares of the company were exchanged, compared to its average volume of 3,261,840. The business's 50 day moving average is $76.58 and its 200 day moving average is $75.77. The company has a market capitalization of $32.96 billion, a P/E ratio of 229.63 and a beta of 0.93. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $97.64.

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

CoStar Group declared that its board has authorized a stock 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 buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its stock is 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.