Mufg Securities Americas Inc. Invests $433,000 in CoStar Group, Inc. (NASDAQ:CSGP)

Mufg Securities Americas Inc. acquired a new stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 6,053 shares of the technology company's stock, valued at approximately $433,000.

Other hedge funds have also recently bought and sold shares of the company. Hopwood Financial Services Inc. bought a new position in shares of CoStar Group in the 4th quarter valued at about $25,000. SBI Securities Co. Ltd. acquired a new position in shares of CoStar Group during the 4th quarter worth about $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in CoStar Group in the 4th quarter valued at about $32,000. Annis Gardner Whiting Capital Advisors LLC increased its position in CoStar Group by 414.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock worth $36,000 after buying an additional 402 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. raised its stake in CoStar Group by 17,100.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company's stock valued at $37,000 after acquiring an additional 513 shares during the period. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Trading Down 0.1%

Shares of CoStar Group stock traded down $0.08 during trading hours on Monday, reaching $76.91. 2,939,029 shares of the company's stock were exchanged, compared to its average volume of 2,878,915. The firm has a market capitalization of $32.45 billion, a price-to-earnings ratio of 219.74 and a beta of 0.89. The company has a fifty day moving average of $78.03 and a 200-day moving average of $76.27. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $87.86. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

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, meeting analysts' consensus estimates of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The firm had revenue of $709.40 million for the quarter, compared to analysts' expectations of $703.00 million. Sell-side analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

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

Insider Activity

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the firm'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 completion of the transaction, the chief accounting officer now owns 29,456 shares in the company, valued at approximately $2,353,534.40. This trade represents a 5.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.09% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada reiterated a "sector perform" rating and issued a $83.00 price target on shares of CoStar Group in a research report on Thursday, April 17th. The Goldman Sachs Group initiated coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a "buy" rating for the company. Piper Sandler started coverage on shares of CoStar Group in a research note on Friday, February 28th. They set an "overweight" rating for the company. Citigroup reduced their target price on CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. cut their price target 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. Two research 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.