CoStar Group, Inc. (NASDAQ:CSGP) Shares Sold by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp reduced its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 16.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,787 shares of the technology company's stock after selling 5,994 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in CoStar Group were worth $2,204,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. LRT Capital Management LLC boosted its stake in shares of CoStar Group by 193.7% during the 4th quarter. LRT Capital Management LLC now owns 11,484 shares of the technology company's stock worth $822,000 after acquiring an additional 7,574 shares in the last quarter. Investment Management Corp of Ontario grew its holdings in CoStar Group by 86.2% in the fourth quarter. Investment Management Corp of Ontario now owns 25,132 shares of the technology company's stock valued at $1,799,000 after purchasing an additional 11,638 shares during the last quarter. Jefferies Financial Group Inc. increased its position in shares of CoStar Group by 187.2% in the fourth quarter. Jefferies Financial Group Inc. now owns 98,108 shares of the technology company's stock valued at $7,024,000 after buying an additional 63,948 shares in the last quarter. Kensico Capital Management Corp acquired a new position in shares of CoStar Group during the 4th quarter worth $51,244,000. Finally, Focus Partners Wealth acquired a new position in shares of CoStar Group during the 4th quarter worth $43,895,000. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the business'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 sale, the chief accounting officer now directly owns 29,456 shares of the company's stock, valued at $2,353,534.40. The trade was a 5.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.09% of the company's stock.

CoStar Group Trading Up 1.2%

Shares of CoStar Group stock traded up $0.94 during trading hours on Friday, reaching $76.99. 2,618,802 shares of the company's stock were exchanged, compared to its average volume of 2,878,674. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $87.86. The company has a fifty day moving average of $78.03 and a 200-day moving average of $76.25. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $32.48 billion, a price-to-earnings ratio of 219.97 and a beta of 0.89.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to analyst estimates 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 of Directors has authorized a share buyback 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 reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

CSGP has been the subject of several recent research reports. Citigroup dropped their target price on shares of CoStar Group from $88.00 to $86.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Keefe, Bruyette & Woods increased their price target on shares of CoStar Group from $93.00 to $95.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Craig Hallum assumed coverage on shares of CoStar Group in a research note on Friday, February 28th. They set a "buy" rating for the company. JMP Securities reaffirmed a "market outperform" rating and issued a $85.00 target price on shares of CoStar Group in a research note on Wednesday, April 30th. Finally, Needham & Company LLC increased their target price on CoStar Group from $87.00 to $98.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $88.31.

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.