Hahn Capital Management LLC Takes Position in CoStar Group, Inc. (NASDAQ:CSGP)

Hahn Capital Management LLC bought a new stake in CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 69,105 shares of the technology company’s stock, valued at approximately $4,947,000. CoStar Group makes up approximately 2.2% of Hahn Capital Management LLC’s investment portfolio, making the stock its 24th biggest position.

A number of other large investors also recently modified their holdings of the stock. Proficio Capital Partners LLC lifted its holdings in shares of CoStar Group by 8,192.5% in the fourth quarter. Proficio Capital Partners LLC now owns 300,105 shares of the technology company’s stock valued at $21,485,000 after purchasing an additional 296,486 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of CoStar Group by 6.2% in the fourth quarter. Oppenheimer & Co. Inc. now owns 37,064 shares of the technology company’s stock valued at $2,653,000 after purchasing an additional 2,152 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of CoStar Group by 72.1% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 272,133 shares of the technology company’s stock valued at $19,482,000 after purchasing an additional 114,003 shares in the last quarter. New York Life Investment Management LLC lifted its holdings in CoStar Group by 0.8% during the fourth quarter. New York Life Investment Management LLC now owns 54,782 shares of the technology company’s stock worth $3,922,000 after acquiring an additional 446 shares during the period. Finally, Bryn Mawr Capital Management LLC bought a new stake in CoStar Group during the fourth quarter worth $398,000. Institutional investors own 96.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Citigroup dropped their price target on CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Royal Bank of Canada reiterated a “sector perform” rating and set a $83.00 price target on shares of CoStar Group in a report on Wednesday, February 19th. Wells Fargo & Company dropped their price target on CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a report on Wednesday, February 19th. Keefe, Bruyette & Woods dropped their price target on CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a report on Tuesday, January 28th. Finally, William Blair reiterated an “outperform” rating on shares of CoStar Group in a report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.00.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $74.36 on Friday. The company has a market capitalization of $30.50 billion, a P/E ratio of 212.46 and a beta of 0.87. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The business has a fifty day simple moving average of $74.21 and a two-hundred day simple moving average of $75.49.

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 analysts’ expectations of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. On average, analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group declared that its Board of Directors has authorized a stock buyback plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board 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.