Townsquare Capital LLC Has $274,000 Holdings in CoStar Group, Inc. $CSGP

Townsquare Capital LLC lessened its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 75.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,246 shares of the technology company’s stock after selling 10,088 shares during the period. Townsquare Capital LLC’s holdings in CoStar Group were worth $274,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CSGP. Quent Capital LLC bought a new position in shares of CoStar Group during the third quarter worth about $26,000. Rossby Financial LCC boosted its position in CoStar Group by 315.9% during the 2nd quarter. Rossby Financial LCC now owns 341 shares of the technology company’s stock worth $27,000 after acquiring an additional 259 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of CoStar Group during the 3rd quarter worth approximately $28,000. Root Financial Partners LLC bought a new position in shares of CoStar Group during the 3rd quarter worth approximately $31,000. Finally, NewSquare Capital LLC raised its holdings in shares of CoStar Group by 35.6% in the second quarter. NewSquare Capital LLC now owns 411 shares of the technology company’s stock valued at $33,000 after purchasing an additional 108 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Trading Down 0.7%

CoStar Group stock opened at $61.50 on Friday. The stock has a 50-day simple moving average of $65.75 and a 200 day simple moving average of $76.83. The stock has a market capitalization of $26.06 billion, a P/E ratio of 1,230.00, a PEG ratio of 1.62 and a beta of 0.84. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.12 and a current ratio of 3.12. CoStar Group, Inc. has a 52 week low of $57.01 and a 52 week high of $97.43.

CoStar Group announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 7th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the technology company to buy up to 5.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CSGP. BNP Paribas Exane started coverage on shares of CoStar Group in a research report on Wednesday, January 14th. They issued a “neutral” rating and a $64.00 target price for the company. Keefe, Bruyette & Woods decreased their price objective on CoStar Group from $100.00 to $75.00 and set an “outperform” rating for the company in a report on Monday, January 12th. BMO Capital Markets lowered their target price on CoStar Group from $77.00 to $72.00 and set a “market perform” rating on the stock in a research report on Thursday, January 8th. The Goldman Sachs Group reissued a “buy” rating and set a $84.00 price target on shares of CoStar Group in a research report on Wednesday, January 14th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of CoStar Group in a research report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.39.

About CoStar Group

CoStar Group, Inc is a provider of information, analytics and online marketplaces for the commercial real estate industry. The company gathers property-level data, builds market analytics and supplies research tools used by brokers, owners, lenders, investors and other real estate professionals to evaluate markets, track inventory and manage listings. CoStar’s offerings are delivered primarily through subscription-based platforms that combine proprietary databases, mapping and workflow applications to support decision-making across the property life cycle.

In addition to its core CoStar research service, the company operates prominent online listing and marketing platforms that connect buyers, sellers, tenants and brokers.