Y Intercept Hong Kong Ltd Raises Position in CoStar Group, Inc. (NASDAQ:CSGP)

Y Intercept Hong Kong Ltd grew its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 98.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,765 shares of the technology company’s stock after acquiring an additional 19,247 shares during the period. Y Intercept Hong Kong Ltd’s holdings in CoStar Group were worth $2,775,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of CSGP. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in CoStar Group by 17.5% during the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 81,770 shares of the technology company’s stock worth $5,854,000 after purchasing an additional 12,200 shares in the last quarter. Howard Capital Management Inc. boosted its stake in shares of CoStar Group by 3.3% in the 4th quarter. Howard Capital Management Inc. now owns 11,216 shares of the technology company’s stock valued at $803,000 after buying an additional 362 shares during the period. Redmond Asset Management LLC grew its position in shares of CoStar Group by 5.6% during the fourth quarter. Redmond Asset Management LLC now owns 15,615 shares of the technology company’s stock worth $1,118,000 after buying an additional 835 shares in the last quarter. Paradigm Asset Management Co. LLC purchased a new stake in shares of CoStar Group during the fourth quarter worth approximately $129,000. Finally, Centricity Wealth Management LLC acquired a new stake in CoStar Group in the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CSGP. Wells Fargo & Company reduced their price objective on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a report on Wednesday, February 19th. Stephens reaffirmed an “overweight” rating and set a $103.00 price target on shares of CoStar Group in a report on Tuesday, February 18th. Needham & Company LLC lowered their price objective 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. Royal Bank of Canada reissued a “sector perform” rating and set a $83.00 target price on shares of CoStar Group in a research report on Wednesday, February 19th. Finally, StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, CoStar Group presently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

CoStar Group Stock Performance

Shares of CSGP opened at $77.49 on Tuesday. The company’s 50 day simple moving average is $73.91 and its 200-day simple moving average is $75.47. The firm has a market cap of $31.77 billion, a PE ratio of 221.40 and a beta of 0.87. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

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, hitting the consensus estimate 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 the consensus estimate of $703.00 million. As a group, equities analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current year.

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

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.