SG Americas Securities LLC Acquires 10,558 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

SG Americas Securities LLC boosted its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 204.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,717 shares of the technology company’s stock after acquiring an additional 10,558 shares during the period. SG Americas Securities LLC’s holdings in CoStar Group were worth $1,245,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Bamco Inc. NY boosted its holdings in CoStar Group by 2.2% in the fourth quarter. Bamco Inc. NY now owns 19,203,564 shares of the technology company’s stock valued at $1,374,783,000 after acquiring an additional 418,128 shares during the last quarter. Capital International Investors increased its holdings in CoStar Group by 44.9% in the 4th quarter. Capital International Investors now owns 14,032,363 shares of the technology company’s stock worth $1,004,578,000 after acquiring an additional 4,345,267 shares during the last quarter. Geode Capital Management LLC boosted its stake in CoStar Group by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 11,475,755 shares of the technology company’s stock worth $819,678,000 after purchasing an additional 166,769 shares during the period. Akre Capital Management LLC lifted its position in CoStar Group by 4.3% in the 4th quarter. Akre Capital Management LLC now owns 9,313,880 shares of the technology company’s stock worth $666,781,000 after buying an additional 379,787 shares during the last quarter. Finally, Polen Capital Management LLC purchased a new position in CoStar Group in the 4th quarter worth approximately $465,134,000. Institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Up 1.0%

CSGP opened at $81.94 on Tuesday. The business’s 50-day simple moving average is $77.60 and its 200-day simple moving average is $76.32. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $83.68. The stock has a market capitalization of $34.57 billion, a P/E ratio of 234.11 and a beta of 0.87.

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

Wall Street Analysts Forecast Growth

CSGP has been the topic of several research reports. William Blair assumed coverage on CoStar Group in a research report on Friday, February 28th. They set a “market perform” rating on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $83.00 target price on shares of CoStar Group in a report on Thursday, April 17th. The Goldman Sachs Group initiated coverage on CoStar Group in a report on Friday, February 28th. They issued a “buy” rating on the stock. JMP Securities reiterated a “market outperform” rating and set a $85.00 target price on shares of CoStar Group in a research report on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods increased their target price on CoStar Group from $93.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, CoStar Group has a consensus rating of “Moderate Buy” and a consensus price target of $87.69.

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.