CoStar Group, Inc. (NASDAQ:CSGP) Shares Acquired by Investment Management Corp of Ontario

Investment Management Corp of Ontario lifted its position in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 86.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,132 shares of the technology company's stock after purchasing an additional 11,638 shares during the period. Investment Management Corp of Ontario's holdings in CoStar Group were worth $1,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Hopwood Financial Services Inc. purchased a new position in CoStar Group in the fourth quarter valued at $25,000. ORG Partners LLC increased its stake in shares of CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company's stock valued at $30,000 after purchasing an additional 353 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in CoStar Group in the 4th quarter worth about $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in CoStar Group during the fourth quarter worth approximately $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew its holdings in CoStar Group by 414.4% in the fourth 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 period. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Price Performance

NASDAQ CSGP traded up $0.36 during mid-day trading on Thursday, hitting $76.05. The stock had a trading volume of 2,670,102 shares, compared to its average volume of 2,863,788. 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 firm's 50 day moving average is $78.10 and its 200 day moving average is $76.19. The stock has a market capitalization of $32.08 billion, a price-to-earnings ratio of 217.29 and a beta of 0.89. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $89.33.

CoStar Group (NASDAQ:CSGP - Get Free Report) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. The company had revenue of $709.40 million during the quarter, compared to analysts' expectations of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. Equities research analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CSGP. Keefe, Bruyette & Woods increased their target price on CoStar Group from $93.00 to $95.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Wells Fargo & Company lifted their target price 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. JPMorgan Chase & Co. dropped their target price on shares of CoStar Group from $99.00 to $87.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 19th. William Blair assumed coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a "market perform" rating on the stock. Finally, Needham & Company LLC lifted their target price 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. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.31.

Insider Transactions at CoStar Group

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was 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 in the company, 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 SEC, which is available through this link. Company insiders own 1.57% of the company's stock.

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.