CoStar Group, Inc. (NASDAQ:CSGP) Holdings Increased by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,935,559 shares of the technology company's stock after acquiring an additional 128,540 shares during the period. Mackenzie Financial Corp owned about 0.72% of CoStar Group worth $210,157,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barclays PLC raised its holdings in shares of CoStar Group by 91.4% in the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock valued at $169,678,000 after buying an additional 1,073,793 shares during the last quarter. Merit Financial Group LLC acquired a new position in shares of CoStar Group during the fourth quarter worth about $248,000. Exchange Traded Concepts LLC increased its stake in shares of CoStar Group by 25.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 30,818 shares of the technology company's stock worth $2,206,000 after acquiring an additional 6,280 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of CoStar Group during the fourth quarter worth about $32,000. Finally, B.O.S.S. Retirement Advisors LLC acquired a new position in CoStar Group during the fourth quarter worth about $1,717,000. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Stock Down 0.3%

CSGP traded down $0.24 during trading hours on Thursday, reaching $74.00. 815,721 shares of the stock traded hands, compared to its average volume of 2,897,647. The firm's fifty day simple moving average is $77.46 and its two-hundred day simple moving average is $76.24. The company has a market cap of $31.22 billion, a price-to-earnings ratio of 211.53 and a beta of 0.89. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $83.68. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63.

CoStar Group declared that its board has initiated a share buyback 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 repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $79.90, for a total transaction of $139,745.10. Following the completion of the transaction, the chief accounting officer now directly owns 29,456 shares of the company's stock, valued at $2,353,534.40. This trade represents a 5.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.09% of the stock is owned by company insiders.

Analysts Set New Price Targets

CSGP has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a "buy" rating and a $89.00 target price on the stock. Keefe, Bruyette & Woods upped their target price on shares of CoStar Group from $93.00 to $95.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Craig Hallum started coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a "buy" rating on the stock. Wells Fargo & Company increased their price target on shares of CoStar Group from $63.00 to $65.00 and gave the company an "underweight" rating in a research report on Wednesday, April 30th. Finally, Citigroup lowered their price target on shares of 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 research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $88.31.

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.