Moran Wealth Management LLC Has $588,000 Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Moran Wealth Management LLC grew its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 2.2% in the 4th quarter, HoldingsChannel reports. The firm owned 8,207 shares of the technology company’s stock after acquiring an additional 180 shares during the quarter. Moran Wealth Management LLC’s holdings in CoStar Group were worth $588,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. ORG Partners LLC lifted its stake in CoStar Group by 534.8% during the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after buying an additional 353 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of CoStar Group during the fourth quarter valued at approximately $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of CoStar Group in the 4th quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of CoStar Group by 17,100.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 516 shares of the technology company’s stock valued at $37,000 after acquiring an additional 513 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in CoStar Group in the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Piper Sandler started coverage on shares of CoStar Group in a research note on Friday, February 28th. They set an “overweight” rating on the stock. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Keefe, Bruyette & Woods lowered their target price on CoStar Group from $96.00 to $93.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 28th. Stephens reissued an “overweight” rating and issued a $103.00 price target on shares of CoStar Group in a research report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of CoStar Group in a report on Friday, February 28th. They set a “buy” rating and a $89.00 price target for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.07.

CoStar Group Stock Down 0.0 %

CSGP stock opened at $76.86 on Thursday. The firm has a market cap of $31.52 billion, a PE ratio of 219.60 and a beta of 0.93. CoStar Group, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38. The company has a fifty day simple moving average of $75.10 and a 200 day simple moving average of $75.67. 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 (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.22. The company had revenue of $709.40 million during the quarter, compared to analysts’ expectations of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. Sell-side analysts anticipate that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group declared that its Board of Directors has approved a stock repurchase plan on Tuesday, February 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.