Schechter Investment Advisors LLC Purchases New Position in CoStar Group, Inc. (NASDAQ:CSGP)

Schechter Investment Advisors LLC purchased a new stake in CoStar Group, Inc. (NASDAQ:CSGP) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,394 shares of the technology company’s stock, valued at approximately $529,000.

Several other hedge funds have also bought and sold shares of CSGP. ORG Partners LLC increased its stake in shares of CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after purchasing an additional 353 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in CoStar Group in the fourth quarter valued at approximately $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of CoStar Group in the fourth quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of CoStar Group by 17,100.0% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock worth $37,000 after buying an additional 513 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new position in shares of CoStar Group during the 3rd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Analyst Upgrades and Downgrades

CSGP has been the subject of several recent analyst reports. Craig Hallum initiated coverage on shares of CoStar Group in a report on Friday. They issued a “buy” rating for the company. Piper Sandler initiated coverage on shares of CoStar Group in a research note on Friday. They set an “overweight” rating for the company. William Blair assumed coverage on shares of CoStar Group in a research note on Friday. They issued a “market perform” rating on the stock. JMP Securities reiterated a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research note on Monday, December 16th. Finally, Keefe, Bruyette & Woods reduced their target price on CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

CoStar Group Stock Performance

NASDAQ CSGP opened at $75.58 on Wednesday. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The firm has a market capitalization of $31.00 billion, a P/E ratio of 215.94 and a beta of 0.87. The stock’s fifty day moving average is $74.41 and its two-hundred day moving average is $75.57. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share (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 firm had revenue of $709.40 million during the quarter, compared to analyst estimates of $703.00 million. On average, research analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group announced that its Board of Directors has initiated a share 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 reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.