NBC Securities Inc. Increases Position in CoStar Group, Inc. (NASDAQ:CSGP)

NBC Securities Inc. boosted its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 129,366.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 3,884 shares of the technology company's stock after purchasing an additional 3,881 shares during the period. NBC Securities Inc.'s holdings in CoStar Group were worth $307,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Hopwood Financial Services Inc. purchased a new position in shares of CoStar Group during the fourth quarter worth about $25,000. SBI Securities Co. Ltd. acquired a new stake in CoStar Group during the 4th quarter worth approximately $30,000. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of 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 purchasing an additional 402 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in shares of CoStar Group in the fourth quarter valued at approximately $40,000. Finally, Private Trust Co. NA raised its stake in shares of CoStar Group by 969.5% during the fourth quarter. Private Trust Co. NA now owns 631 shares of the technology company's stock worth $45,000 after purchasing an additional 572 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CSGP has been the topic of a number of analyst reports. Bank of America began coverage on shares of CoStar Group in a research report on Friday, May 30th. They issued a "neutral" rating and a $79.00 price objective on the stock. 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. JMP Securities reissued a "market outperform" rating and set a $85.00 price target on shares of CoStar Group in a report on Wednesday, April 30th. Royal Bank of Canada restated a "sector perform" rating and issued a $83.00 price objective on shares of CoStar Group in a research report on Thursday, April 17th. Finally, Citigroup dropped their target price on CoStar Group from $88.00 to $86.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $87.54.

CoStar Group Price Performance

NASDAQ CSGP traded up $2.15 during trading hours on Tuesday, reaching $81.07. The company's stock had a trading volume of 2,611,394 shares, compared to its average volume of 2,919,038. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. The company's 50-day moving average is $76.95 and its two-hundred day moving average is $76.33. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $83.68. The stock has a market cap of $34.20 billion, a PE ratio of 231.63 and a beta of 0.87.

CoStar Group declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its stock is undervalued.

CoStar Group 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.