Kentucky Retirement Systems Has $2.02 Million Position in CoStar Group, Inc. (NASDAQ:CSGP)

Kentucky Retirement Systems lowered its position in CoStar Group, Inc. (NASDAQ:CSGP) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,162 shares of the technology company’s stock after selling 388 shares during the period. Kentucky Retirement Systems’ holdings in CoStar Group were worth $2,016,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CSGP. ORG Partners LLC increased its holdings in CoStar Group by 534.8% in the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock worth $30,000 after buying an additional 353 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in CoStar Group in the fourth quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in CoStar Group by 17,100.0% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock worth $37,000 after buying an additional 513 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in CoStar Group in the third quarter worth approximately $40,000. Finally, CENTRAL TRUST Co increased its holdings in CoStar Group by 1,825.5% in the fourth quarter. CENTRAL TRUST Co now owns 982 shares of the technology company’s stock worth $70,000 after buying an additional 931 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CSGP. Keefe, Bruyette & Woods dropped their price objective on CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a report on Tuesday, January 28th. Wells Fargo & Company decreased their target price on CoStar Group from $65.00 to $63.00 and set an “underweight” rating for the company in a research report on Wednesday. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. 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 Wednesday. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a research report on Monday, December 16th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

Insider Activity

In related news, insider Michael J. Desmarais sold 5,500 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the transaction, the insider now directly owns 58,798 shares of the company’s stock, valued at $4,696,784.24. This trade represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.57% of the stock is owned by company insiders.

CoStar Group Stock Down 2.0 %

CSGP opened at $76.79 on Friday. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $31.48 billion, a price-to-earnings ratio of 219.40 and a beta of 0.87. The business has a 50 day moving average of $73.86 and a 200-day moving average of $75.42.

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

CoStar Group declared that its Board of Directors has approved a stock repurchase program on Tuesday, February 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

About CoStar Group

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.