Man Group plc Has $2.06 Million Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Man Group plc lessened its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 68.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,835 shares of the technology company's stock after selling 61,805 shares during the quarter. Man Group plc's holdings in CoStar Group were worth $2,064,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CSGP. Bamco Inc. NY grew 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 acquiring an additional 418,128 shares in the last quarter. Capital International Investors lifted its position in shares of 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 boosted its stake in shares of CoStar Group by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 11,475,755 shares of the technology company's stock worth $819,678,000 after acquiring an additional 166,769 shares in the last quarter. Akre Capital Management LLC increased its holdings in shares of CoStar Group by 4.3% during the 4th quarter. Akre Capital Management LLC now owns 9,313,880 shares of the technology company's stock valued at $666,781,000 after acquiring an additional 379,787 shares during the last quarter. Finally, Polen Capital Management LLC bought a new position in shares of CoStar Group in the 4th quarter valued at approximately $465,134,000. Hedge funds and other institutional investors own 96.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. JMP Securities reaffirmed a "market outperform" rating and set a $85.00 target price on shares of CoStar Group in a research report on Wednesday, April 30th. William Blair began coverage on shares of CoStar Group in a report on Friday, February 28th. They set a "market perform" rating for the company. Craig Hallum began coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating on the stock. Wells Fargo & Company boosted their target price on shares of CoStar Group from $63.00 to $65.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 30th. Finally, Piper Sandler began coverage on shares of CoStar Group in a report on Friday, February 28th. They set an "overweight" rating for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $88.31.

Insider Buying and Selling

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of CoStar Group stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $79.90, for a total value 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. This trade represents a 5.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.09% of the stock is owned by insiders.

CoStar Group Stock Performance

CoStar Group stock traded down $0.03 on Wednesday, hitting $74.58. The company's stock had a trading volume of 185,317 shares, compared to its average volume of 2,895,337. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $85.78. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average price of $77.55 and a 200-day moving average price of $76.25. The firm has a market cap of $31.46 billion, a P/E ratio of 213.23 and a beta of 0.89.

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

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.