Amalgamated Bank Sells 1,897 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Amalgamated Bank reduced its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 2.4% in the fourth quarter, Holdings Channel reports. The firm owned 78,423 shares of the technology company’s stock after selling 1,897 shares during the quarter. Amalgamated Bank’s holdings in CoStar Group were worth $5,614,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CSGP. International Assets Investment Management LLC purchased a new position in CoStar Group in the 3rd quarter worth approximately $2,481,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of CoStar Group by 60.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,975 shares of the technology company’s stock worth $1,281,000 after purchasing an additional 6,386 shares in the last quarter. Pallas Capital Advisors LLC purchased a new position in shares of CoStar Group in the third quarter worth $342,000. abrdn plc lifted its holdings in shares of CoStar Group by 72.5% during the third quarter. abrdn plc now owns 130,150 shares of the technology company’s stock valued at $9,803,000 after purchasing an additional 54,713 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of CoStar Group by 111.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 5,198 shares of the technology company’s stock valued at $392,000 after buying an additional 2,742 shares during the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $74.36 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. The stock has a 50-day simple moving average of $74.21 and a two-hundred day simple moving average of $75.49. The firm has a market capitalization of $30.50 billion, a PE ratio of 212.46 and a beta of 0.87. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 the consensus estimate of $703.00 million. Analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group announced that its Board of Directors has approved a stock buyback plan on Tuesday, February 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have weighed in on CSGP shares. JPMorgan Chase & Co. decreased their target price on CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday, February 19th. Royal Bank of Canada reissued a “sector perform” rating and set a $83.00 price objective on shares of CoStar Group in a report on Wednesday, February 19th. Stephens restated an “overweight” rating and issued a $103.00 target price on shares of CoStar Group in a report on Tuesday, February 18th. Citigroup cut their target price on shares of CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Finally, Needham & Company LLC lowered their price target on CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Two 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 company. Based on data from MarketBeat.com, CoStar Group has an average rating of “Moderate Buy” and an average price target of $88.00.

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.