Ycg LLC Has $32.11 Million Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Ycg LLC lowered its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 448,531 shares of the technology company’s stock after selling 3,442 shares during the quarter. CoStar Group comprises approximately 2.6% of Ycg LLC’s investment portfolio, making the stock its 19th biggest position. Ycg LLC owned about 0.11% of CoStar Group worth $32,110,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of CoStar Group in the 3rd quarter valued at about $40,000. JPMorgan Chase & Co. raised its stake in shares of CoStar Group by 73.8% during the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after acquiring an additional 1,001,177 shares during the last quarter. Telemark Asset Management LLC increased its stake in shares of CoStar Group by 42.9% during the third quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock valued at $37,720,000 after purchasing an additional 150,000 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of CoStar Group by 16.2% during the third quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company’s stock valued at $7,812,000 after acquiring an additional 14,468 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC bought a new stake in CoStar Group in the 3rd quarter worth approximately $621,000. 96.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CSGP has been the topic of a number of research reports. Craig Hallum began coverage on shares of CoStar Group in a report on Friday, February 28th. They issued a “buy” rating on the stock. Citigroup decreased their price objective on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. JMP Securities restated a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. Deutsche Bank Aktiengesellschaft started coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a “buy” rating and a $89.00 price target for the company. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and an average target price of $88.07.

CoStar Group Price Performance

CSGP opened at $76.87 on Wednesday. The company’s 50 day simple moving average is $74.99 and its 200-day simple moving average is $75.66. 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 stock has a market capitalization of $31.53 billion, a P/E ratio of 219.63 and a beta of 0.93. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38.

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, hitting analysts’ consensus estimates of $0.22. The firm had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. Sell-side analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.

CoStar Group declared that its Board of Directors has authorized a stock buyback program on Tuesday, February 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are often 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.