LRT Capital Management LLC Grows Stake in CoStar Group, Inc. (NASDAQ:CSGP)

LRT Capital Management LLC increased its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 193.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,484 shares of the technology company’s stock after purchasing an additional 7,574 shares during the period. LRT Capital Management LLC’s holdings in CoStar Group were worth $822,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Colonial Trust Co SC lifted its position in shares of CoStar Group by 27.4% during the fourth quarter. Colonial Trust Co SC now owns 674 shares of the technology company’s stock worth $48,000 after purchasing an additional 145 shares during the last quarter. DoubleLine ETF Adviser LP lifted its holdings in CoStar Group by 0.5% during the 4th quarter. DoubleLine ETF Adviser LP now owns 29,398 shares of the technology company’s stock valued at $2,105,000 after buying an additional 146 shares in the last quarter. Allworth Financial LP boosted its position in CoStar Group by 9.7% in the 4th quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock valued at $144,000 after buying an additional 173 shares during the period. Atria Wealth Solutions Inc. grew its stake in CoStar Group by 2.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock worth $557,000 after acquiring an additional 176 shares in the last quarter. Finally, Moran Wealth Management LLC raised its stake in shares of CoStar Group by 2.2% during the fourth quarter. Moran Wealth Management LLC now owns 8,207 shares of the technology company’s stock valued at $588,000 after acquiring an additional 180 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CSGP has been the topic of several research reports. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. William Blair assumed coverage on shares of CoStar Group in a research report on Friday, February 28th. They set a “market perform” rating on the stock. Stephens reaffirmed an “overweight” rating and issued a $103.00 price target on shares of CoStar Group in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued a “buy” rating and a $89.00 price objective for the company. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $83.00 target price on shares of CoStar Group in a research report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, CoStar Group presently has a consensus rating of “Moderate Buy” and an average target price of $88.31.

Insider Buying and Selling at CoStar Group

In other news, CAO Cynthia Cammett Cann sold 1,749 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now owns 29,456 shares of the company’s stock, valued at $2,353,534.40. The trade was a 5.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.57% of the stock is owned by corporate insiders.

CoStar Group Price Performance

NASDAQ CSGP opened at $74.56 on Monday. The company has a market cap of $31.46 billion, a price-to-earnings ratio of 213.03 and a beta of 0.89. 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’s fifty day moving average price is $78.26 and its 200 day moving average price is $76.19. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $90.93.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. The firm had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. As a group, equities research analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group announced that its board has approved a stock buyback program on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is 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.