Promus Capital LLC Invests $54,000 in CoStar Group, Inc. (NASDAQ:CSGP)

Promus Capital LLC acquired a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 759 shares of the technology company’s stock, valued at approximately $54,000.

A number of other hedge funds also recently made changes to their positions in CSGP. State Street Corp lifted its stake in CoStar Group by 4.4% in the third quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock worth $1,286,987,000 after purchasing an additional 722,153 shares during the last quarter. Geode Capital Management LLC lifted its stake in CoStar Group by 2.1% in the third quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock worth $850,656,000 after purchasing an additional 236,407 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in CoStar Group by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,818,249 shares of the technology company’s stock worth $201,758,000 after purchasing an additional 133,876 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in CoStar Group by 73.8% in the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock worth $177,913,000 after purchasing an additional 1,001,177 shares during the last quarter. Finally, Barclays PLC lifted its stake in CoStar Group by 91.4% in the third quarter. Barclays PLC now owns 2,249,188 shares of the technology company’s stock worth $169,678,000 after purchasing an additional 1,073,793 shares during the last quarter. 96.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CSGP has been the subject of several recent research reports. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. JPMorgan Chase & Co. decreased their price objective on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 19th. JMP Securities reiterated a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research report on Monday, December 16th. Keefe, Bruyette & Woods reduced their price target 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. Finally, Needham & Company LLC reduced their price target 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, February 19th. 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $88.07.

CoStar Group Trading Up 3.0 %

Shares of NASDAQ CSGP opened at $77.81 on Thursday. The company has a market cap of $31.91 billion, a PE ratio of 222.31 and a beta of 0.87. 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 firm’s 50 day moving average price is $74.51 and its 200-day moving average price is $75.59. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. On average, equities research analysts expect 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 buyback $500.00 million in shares. This buyback authorization permits the technology company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are 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.