CX Institutional Invests $255,000 in CoStar Group, Inc. (NASDAQ:CSGP)

CX Institutional purchased a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,218 shares of the technology company's stock, valued at approximately $255,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CSGP. Bamco Inc. NY increased its position in CoStar Group by 2.2% in the fourth quarter. Bamco Inc. NY now owns 19,203,564 shares of the technology company's stock worth $1,374,783,000 after buying an additional 418,128 shares during the last quarter. Capital International Investors increased its position in 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 buying an additional 4,345,267 shares during the last quarter. Geode Capital Management LLC increased its position in CoStar Group by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 11,475,755 shares of the technology company's stock worth $819,678,000 after buying an additional 166,769 shares during the last quarter. Akre Capital Management LLC increased its position in CoStar Group by 4.3% in the fourth quarter. Akre Capital Management LLC now owns 9,313,880 shares of the technology company's stock worth $666,781,000 after buying an additional 379,787 shares during the last quarter. Finally, Polen Capital Management LLC purchased a new stake in CoStar Group in the fourth quarter worth $465,134,000. 96.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CSGP shares. JMP Securities reaffirmed a "market outperform" rating and issued a $85.00 price target on shares of CoStar Group in a report on Wednesday, April 30th. Craig Hallum started coverage on CoStar Group in a report on Friday, February 28th. They issued a "buy" rating for the company. Bank of America started coverage on CoStar Group in a report on Friday, May 30th. They issued a "neutral" rating and a $79.00 price target for the company. Citigroup cut their price target on CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Finally, The Goldman Sachs Group assumed coverage on CoStar Group in a research note on Friday, February 28th. They set a "buy" rating for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $87.54.

CoStar Group Price Performance

CSGP stock traded down $1.21 during mid-day trading on Friday, hitting $81.16. 2,666,725 shares of the stock were exchanged, compared to its average volume of 2,925,334. 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 business has a fifty day moving average price of $77.42 and a 200 day moving average price of $76.36. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $83.68. The stock has a market capitalization of $34.24 billion, a price-to-earnings ratio of 231.89 and a beta of 0.87.

CoStar Group declared that its board has approved a stock buyback program on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

CoStar Group Company 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.