Townsquare Capital LLC Boosts Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Townsquare Capital LLC boosted its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 1,571.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 156,408 shares of the technology company's stock after purchasing an additional 147,049 shares during the quarter. Townsquare Capital LLC's holdings in CoStar Group were worth $11,197,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Hopwood Financial Services Inc. bought a new position in CoStar Group during the 4th quarter worth $25,000. ORG Partners LLC raised its stake in CoStar Group by 534.8% in the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company's stock valued at $30,000 after purchasing an additional 353 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in CoStar Group during the fourth quarter worth about $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in CoStar Group during the fourth quarter worth about $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its holdings in CoStar Group by 414.4% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock valued at $36,000 after buying an additional 402 shares during the period. Institutional investors own 96.60% of the company's stock.

Insider Buying and Selling at CoStar Group

In related 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 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. This represents a 5.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.57% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Craig Hallum initiated coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a "buy" rating on the stock. JPMorgan Chase & Co. decreased 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. StockNews.com downgraded CoStar Group from a "hold" rating to a "sell" rating in a research report on Wednesday, January 15th. Piper Sandler initiated coverage on CoStar Group in a research report on Friday, February 28th. They issued an "overweight" rating on the stock. Finally, Needham & Company LLC dropped their target price 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. 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's stock. Based on data from MarketBeat, CoStar Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $87.54.

CoStar Group Trading Up 0.9 %

Shares of NASDAQ:CSGP traded up $0.68 during midday trading on Friday, reaching $79.70. The company's stock had a trading volume of 2,033,905 shares, compared to its average volume of 2,741,319. The firm has a 50 day moving average price of $77.41 and a two-hundred day moving average price of $75.88. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $93.94. The firm has a market capitalization of $32.69 billion, a price-to-earnings ratio of 227.71 and a beta of 0.88. 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 released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, meeting the consensus estimate 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 during the quarter, compared to analyst estimates of $703.00 million. As a group, analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group declared that its board has authorized a share buyback plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership 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.