Guggenheim Capital LLC Lowers Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Guggenheim Capital LLC decreased its position in CoStar Group, Inc. (NASDAQ:CSGP) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 108,755 shares of the technology company’s stock after selling 2,285 shares during the period. Guggenheim Capital LLC’s holdings in CoStar Group were worth $7,786,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Allworth Financial LP increased its stake in shares of CoStar Group by 9.7% in the 4th quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock valued at $144,000 after purchasing an additional 173 shares in the last quarter. Atria Wealth Solutions Inc. grew its holdings in CoStar Group by 2.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock valued at $557,000 after purchasing an additional 176 shares during the period. Moran Wealth Management LLC increased its position in shares of CoStar Group by 2.2% in the fourth quarter. Moran Wealth Management LLC now owns 8,207 shares of the technology company’s stock valued at $588,000 after buying an additional 180 shares in the last quarter. FWG Holdings LLC raised its stake in shares of CoStar Group by 3.5% during the 4th quarter. FWG Holdings LLC now owns 6,431 shares of the technology company’s stock worth $494,000 after buying an additional 219 shares during the period. Finally, V Square Quantitative Management LLC lifted its position in shares of CoStar Group by 5.2% during the 4th quarter. V Square Quantitative Management LLC now owns 4,427 shares of the technology company’s stock valued at $317,000 after buying an additional 220 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Stock Performance

NASDAQ CSGP opened at $79.70 on Friday. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $93.94. The firm has a market capitalization of $32.69 billion, a P/E ratio of 227.71 and a beta of 0.88. The stock’s fifty day moving average is $77.41 and its two-hundred day moving average is $75.88. 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 (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. The firm had revenue of $709.40 million during 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%. On average, research analysts anticipate that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

CoStar Group announced that its board has initiated a share repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, CAO Cynthia Cammett Cann sold 1,749 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $79.90, for a total value of $139,745.10. Following the sale, the chief accounting officer now directly owns 29,456 shares in the company, valued at approximately $2,353,534.40. The trade was a 5.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on CSGP. Royal Bank of Canada reissued a “sector perform” rating and issued a $83.00 price target on shares of CoStar Group in a report on Thursday. Needham & Company LLC cut their target price on shares of CoStar Group from $100.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Piper Sandler initiated coverage on shares of CoStar Group in a research note on Friday, February 28th. They issued an “overweight” rating on the stock. Stephens reiterated an “overweight” rating and set a $103.00 price objective on shares of CoStar Group in a research note on Tuesday, February 18th. Finally, Citigroup reduced their target price on CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.54.

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.