MML Investors Services LLC Sells 9,442 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

MML Investors Services LLC reduced its holdings in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 11.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 76,567 shares of the technology company's stock after selling 9,442 shares during the period. MML Investors Services LLC's holdings in CoStar Group were worth $5,481,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Hopwood Financial Services Inc. bought a new position in CoStar Group during the 4th quarter worth approximately $25,000. ORG Partners LLC raised its holdings in CoStar Group by 534.8% in the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company's stock worth $30,000 after purchasing an additional 353 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of CoStar Group during the fourth quarter worth $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of CoStar Group in the 4th quarter valued at $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its position 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 buying an additional 402 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Stock Down 8.8 %

CSGP traded down $7.29 on Wednesday, hitting $75.41. 2,906,813 shares of the company were exchanged, compared to its average volume of 2,762,534. The company has a market cap of $30.93 billion, a PE ratio of 215.45 and a beta of 0.88. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $92.84. The stock's fifty day moving average is $78.34 and its 200-day moving average is $76.26.

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 for the quarter, hitting analysts' consensus estimates of $0.22. The business had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. Equities research analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

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

Insider Activity at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the company's 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 in the company, valued at $2,353,534.40. This represents 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. 1.57% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CSGP. JMP Securities reissued a "market outperform" rating and issued a $85.00 target price on shares of CoStar Group in a research note on Wednesday. Stephens reiterated an "overweight" rating and issued a $103.00 price objective on shares of CoStar Group in a research report on Tuesday, February 18th. 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 report on Wednesday, February 19th. Craig Hallum started coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a "buy" rating for the company. Finally, Needham & Company LLC raised their price objective on shares of CoStar Group from $87.00 to $98.00 and gave the stock a "buy" rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $88.00.

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.