GAMMA Investing LLC Increases Position in CoStar Group, Inc. (NASDAQ:CSGP)

GAMMA Investing LLC boosted its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 10,064.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 501,922 shares of the technology company's stock after buying an additional 496,984 shares during the quarter. GAMMA Investing LLC owned 0.12% of CoStar Group worth $39,767,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CSGP. Hopwood Financial Services Inc. acquired a new stake in shares of CoStar Group in the 4th quarter valued at $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of CoStar Group in the 4th quarter valued at $30,000. Annis Gardner Whiting Capital Advisors LLC raised its holdings 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 in the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of CoStar Group in the 4th quarter valued at $40,000. Finally, Private Trust Co. NA raised its holdings in shares of CoStar Group by 969.5% in the 4th quarter. Private Trust Co. NA now owns 631 shares of the technology company's stock valued at $45,000 after purchasing an additional 572 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CSGP has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a "buy" rating and a $89.00 price objective on the stock. Wells Fargo & Company lifted their price target on shares of CoStar Group from $63.00 to $65.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 30th. Royal Bank of Canada reissued a "sector perform" rating and issued a $83.00 price target on shares of CoStar Group in a research report on Thursday, April 17th. Needham & Company LLC boosted their price target on shares of CoStar Group from $87.00 to $98.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Finally, The Goldman Sachs Group began coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a "buy" rating for the company. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $87.54.

Insider Transactions at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the business'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 owns 29,456 shares of the company's stock, valued at approximately $2,353,534.40. The trade was a 5.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.09% of the company's stock.

CoStar Group Stock Performance

NASDAQ CSGP traded up $0.32 during trading on Friday, reaching $78.52. The company's stock had a trading volume of 2,102,085 shares, compared to its average volume of 2,922,301. 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 firm has a market cap of $33.13 billion, a price-to-earnings ratio of 224.34 and a beta of 0.87. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $83.68. The business's fifty day moving average price is $76.88 and its 200-day moving average price is $76.31.

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