Orion Portfolio Solutions LLC Grows Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Orion Portfolio Solutions LLC raised its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 76.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,851 shares of the technology company’s stock after purchasing an additional 14,714 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in CoStar Group were worth $2,423,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Hopwood Financial Services Inc. purchased a new position in shares of CoStar Group during the 4th quarter valued at $25,000. ORG Partners LLC lifted its position in shares of CoStar Group by 534.8% in the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after acquiring an additional 353 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of CoStar Group in the fourth quarter worth about $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of CoStar Group during the fourth quarter worth about $32,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its stake in 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 valued at $37,000 after purchasing an additional 513 shares during the period. 96.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $79.90, for a total value of $139,745.10. Following the completion of the sale, the chief accounting officer now owns 29,456 shares in the company, valued at approximately $2,353,534.40. The trade was a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.57% of the company’s stock.

CoStar Group Trading Down 0.1 %

Shares of NASDAQ CSGP opened at $79.18 on Wednesday. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $95.71. 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 company has a market cap of $32.47 billion, a price-to-earnings ratio of 226.23 and a beta of 0.93. The business’s 50 day moving average price is $77.17 and its 200-day moving average price is $75.79.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.22. The business had revenue of $709.40 million for the quarter, compared to analyst estimates 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 expect that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group announced that its Board of Directors has authorized a stock buyback program on Tuesday, February 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CSGP shares. Piper Sandler started coverage on shares of CoStar Group in a research report on Friday, February 28th. They set an “overweight” rating for the company. Royal Bank of Canada reissued a “sector perform” rating and set a $83.00 price objective on shares of CoStar Group in a report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft assumed coverage on CoStar Group in a report on Friday, February 28th. They issued a “buy” rating and a $89.00 target price on the stock. Keefe, Bruyette & Woods dropped their price target on CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research note on Tuesday, January 28th. Finally, Stephens reaffirmed an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.07.

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.