Kirtland Hills Capital Management LLC Sells 496 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Kirtland Hills Capital Management LLC trimmed its position in CoStar Group, Inc. (NASDAQ:CSGP) by 7.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 6,307 shares of the technology company’s stock after selling 496 shares during the quarter. Kirtland Hills Capital Management LLC’s holdings in CoStar Group were worth $452,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. ORG Partners LLC increased its stake in CoStar Group by 534.8% in the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after acquiring an additional 353 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in CoStar Group in the fourth quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. boosted its position 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 valued at $37,000 after buying an additional 513 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in CoStar Group in the third quarter valued at approximately $40,000. Finally, Centricity Wealth Management LLC acquired a new stake in CoStar Group in the fourth quarter valued at approximately $40,000. 96.60% of the stock is owned by institutional investors.

CoStar Group Trading Up 0.1 %

CSGP opened at $77.60 on Wednesday. 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 company has a fifty day moving average price of $74.00 and a two-hundred day moving average price of $75.49. The company has a market cap of $31.81 billion, a P/E ratio of 221.71 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.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting 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%. Analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CSGP. JMP Securities reiterated a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a report on Monday, December 16th. Keefe, Bruyette & Woods dropped their target price on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a report on Tuesday, January 28th. JPMorgan Chase & Co. dropped their target price on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating on the stock in a report on Wednesday, February 19th. Citigroup dropped their target price 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. Finally, StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

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.