Mattern Capital Management LLC Acquires 1,188 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Mattern Capital Management LLC lifted its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 15.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,878 shares of the technology company’s stock after acquiring an additional 1,188 shares during the period. Mattern Capital Management LLC’s holdings in CoStar Group were worth $636,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CSGP. Barclays PLC lifted its holdings in shares of CoStar Group by 91.4% in the 3rd quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock valued at $169,678,000 after acquiring an additional 1,073,793 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of CoStar Group by 73.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after acquiring an additional 1,001,177 shares during the last quarter. State Street Corp lifted its holdings in shares of CoStar Group by 4.4% in the 3rd 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. bought a new position in shares of CoStar Group in the 3rd quarter valued at about $48,768,000. Finally, Icon Wealth Advisors LLC lifted its holdings in shares of CoStar Group by 8,314.1% in the 3rd 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 during the last quarter. Institutional investors own 96.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CSGP. Royal Bank of Canada reissued a “sector perform” rating and issued a $83.00 price objective on shares of CoStar Group in a research report on Wednesday. Stephens reissued an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a research report on Tuesday. Keefe, Bruyette & Woods reduced their price objective on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 28th. William Blair reissued an “outperform” rating on shares of CoStar Group in a research report on Wednesday. Finally, Needham & Company LLC reduced their price objective on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $88.00.

Insider Activity at CoStar Group

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the sale, the insider now directly owns 58,798 shares in the company, valued at $4,696,784.24. This trade represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.57% of the stock is currently owned by corporate insiders.

CoStar Group Stock Performance

Shares of CSGP stock opened at $78.35 on Friday. The firm has a market cap of $32.12 billion, a price-to-earnings ratio of 223.84 and a beta of 0.87. The company’s 50 day moving average is $73.82 and its 200 day moving average is $75.37. 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, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. The company had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. On average, sell-side analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its Board of Directors has authorized a stock buyback plan on Tuesday, February 18th that permits the company to repurchase $500.00 million in 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 typically an indication that the company’s leadership believes its shares are undervalued.

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.