Norden Group LLC Purchases Shares of 15,363 CoStar Group, Inc. (NASDAQ:CSGP)

Norden Group LLC acquired a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 15,363 shares of the technology company’s stock, valued at approximately $1,100,000.

Several other institutional investors have also modified their holdings of CSGP. International Assets Investment Management LLC acquired a new stake in CoStar Group during the 3rd quarter worth $2,481,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of CoStar Group by 60.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,975 shares of the technology company’s stock worth $1,281,000 after purchasing an additional 6,386 shares during the last quarter. abrdn plc grew its holdings in shares of CoStar Group by 72.5% during the third quarter. abrdn plc now owns 130,150 shares of the technology company’s stock worth $9,803,000 after purchasing an additional 54,713 shares during the last quarter. Chicago Partners Investment Group LLC increased its position in shares of CoStar Group by 5.7% during the third quarter. Chicago Partners Investment Group LLC now owns 14,593 shares of the technology company’s stock worth $1,063,000 after purchasing an additional 781 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of CoStar Group by 1.4% in the 3rd quarter. Van ECK Associates Corp now owns 72,346 shares of the technology company’s stock valued at $5,268,000 after purchasing an additional 993 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Performance

Shares of NASDAQ CSGP opened at $76.25 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The company has a market cap of $31.27 billion, a PE ratio of 217.86 and a beta of 0.87. The company has a 50-day simple moving average of $74.30 and a 200-day simple moving average of $75.55. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38.

CoStar Group (NASDAQ:CSGP) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $703.00 million. On average, equities analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have commented on CSGP. JPMorgan Chase & Co. cut their price target on CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 19th. William Blair started coverage on shares of CoStar Group in a research report on Friday. They set a “market perform” rating on the stock. Craig Hallum assumed coverage on shares of CoStar Group in a research report on Friday. They issued a “buy” rating for the company. Stephens reiterated an “overweight” rating and set a $103.00 price target on shares of CoStar Group in a research note on Tuesday, February 18th. Finally, Keefe, Bruyette & Woods dropped 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. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

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.