Sentry Investment Management LLC Trims Position in CoStar Group, Inc. (NASDAQ:CSGP)

Sentry Investment Management LLC decreased its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 14.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,524 shares of the technology company’s stock after selling 248 shares during the quarter. Sentry Investment Management LLC’s holdings in CoStar Group were worth $109,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CSGP. Y Intercept Hong Kong Ltd grew its stake in CoStar Group by 98.6% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 38,765 shares of the technology company’s stock valued at $2,775,000 after acquiring an additional 19,247 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in CoStar Group by 17.5% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 81,770 shares of the technology company’s stock valued at $5,854,000 after purchasing an additional 12,200 shares in the last quarter. Howard Capital Management Inc. raised its holdings in shares of CoStar Group by 3.3% during the 4th quarter. Howard Capital Management Inc. now owns 11,216 shares of the technology company’s stock worth $803,000 after acquiring an additional 362 shares during the period. Redmond Asset Management LLC raised its holdings in shares of CoStar Group by 5.6% during the 4th quarter. Redmond Asset Management LLC now owns 15,615 shares of the technology company’s stock worth $1,118,000 after acquiring an additional 835 shares during the period. Finally, Paradigm Asset Management Co. LLC purchased a new position in shares of CoStar Group during the 4th quarter worth $129,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Trading Down 0.9 %

Shares of CSGP stock opened at $76.92 on Thursday. The business’s fifty day moving average price is $74.12 and its 200 day moving average price is $75.50. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38. The firm has a market capitalization of $31.55 billion, a PE ratio of 219.77 and a beta of 0.87. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share 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 return on equity of 3.11% and a net margin of 5.07%. As a group, sell-side analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group announced that its board has approved a share repurchase plan on Tuesday, February 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages recently issued reports on CSGP. William Blair restated an “outperform” rating on shares of CoStar Group in a report on Wednesday, February 19th. JMP Securities reissued a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. Citigroup lowered their price target on CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Keefe, Bruyette & Woods lowered their price target on CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. reduced their price objective on CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

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.