Y Intercept Hong Kong Ltd Increases Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Y Intercept Hong Kong Ltd increased its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 98.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 38,765 shares of the technology company’s stock after acquiring an additional 19,247 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in CoStar Group were worth $2,775,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Barclays PLC increased its stake 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 purchasing an additional 1,073,793 shares in the last quarter. JPMorgan Chase & Co. increased its stake in CoStar Group by 73.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after buying an additional 1,001,177 shares in the last quarter. State Street Corp raised its holdings in shares of CoStar Group by 4.4% during the third quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after acquiring an additional 722,153 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of CoStar Group in the third quarter valued at approximately $48,768,000. Finally, Icon Wealth Advisors LLC lifted its position in shares of CoStar Group by 8,314.1% in the third quarter. Icon Wealth Advisors LLC now owns 409,934 shares of the technology company’s stock valued at $30,925,000 after acquiring an additional 405,062 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Trading Up 0.9 %

CSGP opened at $77.49 on Tuesday. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. The stock has a market capitalization of $31.77 billion, a PE ratio of 221.40 and a beta of 0.87. The business’s 50 day moving average price is $73.91 and its 200 day moving average price is $75.47.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The company had revenue of $709.40 million for the quarter, compared to analysts’ expectations of $703.00 million. As a group, equities research analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current year.

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

Wall Street Analyst Weigh In

Several research firms recently commented on CSGP. Needham & Company LLC reduced their price objective on CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $83.00 target price on shares of CoStar Group in a research report on Wednesday, February 19th. Stephens reissued an “overweight” rating and issued a $103.00 price target on shares of CoStar Group in a research note on Tuesday, February 18th. Wells Fargo & Company dropped their price objective on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research note on Wednesday, February 19th. Finally, JMP Securities reissued a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average 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.