The Manufacturers Life Insurance Company Reduces Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

The Manufacturers Life Insurance Company cut its position in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 9.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 261,346 shares of the technology company's stock after selling 28,124 shares during the quarter. The Manufacturers Life Insurance Company owned 0.06% of CoStar Group worth $18,710,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Barclays PLC lifted its holdings in shares of CoStar Group by 91.4% during the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company's stock worth $169,678,000 after buying an additional 1,073,793 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of CoStar Group in the 3rd quarter worth approximately $256,000. Tidal Investments LLC increased its position in shares of CoStar Group by 292.0% during the third quarter. Tidal Investments LLC now owns 73,184 shares of the technology company's stock valued at $5,521,000 after purchasing an additional 54,515 shares during the period. GAMMA Investing LLC increased its holdings in CoStar Group by 7.7% in the 4th quarter. GAMMA Investing LLC now owns 4,938 shares of the technology company's stock valued at $354,000 after buying an additional 355 shares during the period. Finally, Everence Capital Management Inc. lifted its holdings in shares of CoStar Group by 52.5% during the 4th quarter. Everence Capital Management Inc. now owns 14,320 shares of the technology company's stock worth $1,025,000 after acquiring an additional 4,930 shares during the period. Institutional investors own 96.60% of the company's stock.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, CAO Cynthia Cammett Cann sold 1,749 shares of the 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 sale, the chief accounting officer now directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 1.57% of the stock is currently owned by corporate insiders.

CoStar Group Stock Performance

CSGP traded up $1.46 during midday trading on Thursday, reaching $76.80. The company had a trading volume of 696,130 shares, compared to its average volume of 2,828,946. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $92.18. The company has a market cap of $32.39 billion, a P/E ratio of 219.59 and a beta of 0.89. The business has a 50-day moving average of $78.27 and a two-hundred day moving average of $76.18. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13.

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

CoStar Group announced that its Board of Directors has approved a stock buyback program on Tuesday, February 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

CSGP has been the topic of several recent analyst reports. StockNews.com downgraded CoStar Group from a "hold" rating to a "sell" rating in a report on Wednesday, January 15th. William Blair assumed coverage on CoStar Group in a report on Friday, February 28th. They set a "market perform" rating on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a "buy" rating and a $89.00 target price for the company. Citigroup dropped their price objective on shares of CoStar Group from $88.00 to $86.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Finally, Wells Fargo & Company increased their price objective on CoStar Group from $63.00 to $65.00 and gave the stock an "underweight" 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's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $88.31.

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.