Ruffer LLP Buys New Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Ruffer LLP acquired a new stake in CoStar Group, Inc. (NASDAQ:CSGP) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 162,179 shares of the technology company’s stock, valued at approximately $11,610,000.

A number of other large investors have also recently bought and sold shares of the business. Moran Wealth Management LLC increased its stake in shares of CoStar Group by 2.0% during the third quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock worth $606,000 after acquiring an additional 161 shares during the period. Allworth Financial LP grew its holdings in CoStar Group by 9.7% in the fourth 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 during the last quarter. Atria Wealth Solutions Inc. increased its holdings in CoStar Group by 2.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock valued at $557,000 after acquiring an additional 176 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its position in shares of CoStar Group by 1.1% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company’s stock worth $1,443,000 after purchasing an additional 209 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its position in shares of CoStar Group by 5.2% in the fourth quarter. V Square Quantitative Management LLC now owns 4,427 shares of the technology company’s stock valued at $317,000 after acquiring an additional 220 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Trading Up 3.3 %

Shares of NASDAQ CSGP opened at $79.39 on Friday. The stock’s 50 day simple moving average is $74.73 and its 200 day simple moving average is $75.63. The company has a market cap of $32.56 billion, a price-to-earnings 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, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 analysts’ expectations of $703.00 million. Equities research analysts expect that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group announced that its Board of Directors has authorized a share buyback plan on Tuesday, February 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows 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 management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 19th. Needham & Company LLC dropped 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 report on Wednesday, February 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $83.00 price target on shares of CoStar Group in a report on Wednesday, February 19th. The Goldman Sachs Group initiated coverage on shares of CoStar Group in a research report on Friday, February 28th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. lowered their target price on CoStar Group from $99.00 to $87.00 and set an “overweight” rating for the company in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

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.