Annis Gardner Whiting Capital Advisors LLC Boosts Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Annis Gardner Whiting Capital Advisors LLC increased its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 414.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 499 shares of the technology company’s stock after purchasing an additional 402 shares during the period. Annis Gardner Whiting Capital Advisors LLC’s holdings in CoStar Group were worth $36,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Benjamin Edwards Inc. raised its position in shares of CoStar Group by 652.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 22,521 shares of the technology company’s stock valued at $1,699,000 after buying an additional 19,529 shares in the last quarter. Hilltop Holdings Inc. bought a new stake in shares of CoStar Group in the 3rd quarter valued at approximately $426,000. Investment Management Corp of Ontario boosted its holdings in shares of CoStar Group by 48.4% in the 3rd quarter. Investment Management Corp of Ontario now owns 13,494 shares of the technology company’s stock worth $1,018,000 after purchasing an additional 4,400 shares during the period. IHT Wealth Management LLC increased its position in shares of CoStar Group by 16.1% during the 3rd quarter. IHT Wealth Management LLC now owns 4,074 shares of the technology company’s stock valued at $307,000 after purchasing an additional 565 shares during the last quarter. Finally, Royal London Asset Management Ltd. raised its holdings in CoStar Group by 1.7% during the 3rd quarter. Royal London Asset Management Ltd. now owns 392,387 shares of the technology company’s stock valued at $29,602,000 after buying an additional 6,500 shares during the period. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Insider Buying and Selling

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $79.90, for a total transaction of $139,745.10. Following the transaction, the chief accounting officer now directly owns 29,456 shares in the company, 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 through this link. 1.57% of the stock is currently owned by company insiders.

CoStar Group Stock Performance

Shares of NASDAQ:CSGP opened at $72.62 on Friday. The company has a quick ratio of 9.63, a current ratio of 8.96 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $29.78 billion, a price-to-earnings ratio of 207.49 and a beta of 0.93. The firm has a 50 day moving average of $77.30 and a 200 day moving average of $75.79. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $95.71.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.22. The company had revenue of $709.40 million for the quarter, compared to the consensus estimate of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. On average, sell-side 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 authorized a share buyback program on Tuesday, February 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire 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.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Stephens reaffirmed an “overweight” rating and set a $103.00 price objective on shares of CoStar Group in a research note on Tuesday, February 18th. JMP Securities reissued a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. Needham & Company LLC dropped their target price on CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. The Goldman Sachs Group assumed coverage on CoStar Group in a report on Friday, February 28th. They issued a “buy” rating on the stock. Finally, Citigroup dropped their price objective on CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.07.

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.