Ruffer LLP Takes Position in CoStar Group, Inc. (NASDAQ:CSGP)

Ruffer LLP acquired a new position in CoStar Group, Inc. (NASDAQ:CSGP) in the fourth quarter, Holdings Channel reports. The firm acquired 162,179 shares of the technology company’s stock, valued at approximately $11,610,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Van ECK Associates Corp increased its stake in shares of CoStar Group by 1.4% in the third quarter. Van ECK Associates Corp now owns 72,346 shares of the technology company’s stock worth $5,268,000 after acquiring an additional 993 shares during the last quarter. Fiera Capital Corp boosted its holdings in shares of CoStar Group by 9.9% during the 3rd quarter. Fiera Capital Corp now owns 88,967 shares of the technology company’s stock worth $6,712,000 after buying an additional 8,004 shares during the period. Assetmark Inc. grew its position in shares of CoStar Group by 24.1% in the third quarter. Assetmark Inc. now owns 68,659 shares of the technology company’s stock valued at $5,180,000 after purchasing an additional 13,320 shares during the last quarter. Kampmann Melissa S. increased its position in CoStar Group by 1.5% in the 3rd quarter. Kampmann Melissa S. now owns 23,415 shares of the technology company’s stock worth $1,766,000 after buying an additional 350 shares during the period. Finally, TimesSquare Capital Management LLC boosted its holdings in CoStar Group by 6.4% in the 3rd quarter. TimesSquare Capital Management LLC now owns 734,366 shares of the technology company’s stock valued at $55,401,000 after purchasing an additional 44,405 shares during the period. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Analyst Ratings Changes

CSGP has been the subject of a number of recent research reports. JMP Securities restated a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research note on Monday, December 16th. JPMorgan Chase & Co. lowered their target price on shares of CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a research note 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 research report on Tuesday, January 28th. Piper Sandler began coverage on shares of CoStar Group in a report on Friday, February 28th. They set an “overweight” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft began coverage on CoStar Group in a research note on Friday, February 28th. They issued a “buy” rating and a $89.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, CoStar Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

CoStar Group Stock Up 3.3 %

CSGP opened at $79.39 on Friday. The stock’s fifty day simple moving average is $74.73 and its 200 day simple moving average is $75.63. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38. The stock has a market cap of $32.56 billion, a PE ratio of 226.83 and a beta of 0.93. The company has a current ratio of 8.96, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last issued 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. The company 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%. As a group, research 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 share buyback program on Tuesday, February 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management 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.