Hahn Capital Management LLC Acquires Shares of 69,105 CoStar Group, Inc. (NASDAQ:CSGP)

Hahn Capital Management LLC acquired a new stake in CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 69,105 shares of the technology company’s stock, valued at approximately $4,947,000. CoStar Group makes up about 2.2% of Hahn Capital Management LLC’s holdings, making the stock its 24th biggest position.

A number of other institutional investors have also recently modified their holdings of CSGP. International Assets Investment Management LLC bought a new stake in shares of CoStar Group during the 3rd quarter valued at $2,481,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of CoStar Group by 60.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,975 shares of the technology company’s stock valued at $1,281,000 after acquiring an additional 6,386 shares during the period. Pallas Capital Advisors LLC bought a new stake in shares of CoStar Group during the 3rd quarter valued at $342,000. abrdn plc lifted its position in shares of CoStar Group by 72.5% during the 3rd quarter. abrdn plc now owns 130,150 shares of the technology company’s stock valued at $9,803,000 after acquiring an additional 54,713 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of CoStar Group by 111.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,198 shares of the technology company’s stock valued at $392,000 after acquiring an additional 2,742 shares during the period. 96.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CSGP. William Blair reiterated an “outperform” rating on shares of CoStar Group in a research report on Wednesday, February 19th. JPMorgan Chase & Co. dropped their price objective 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 restated a “sector perform” rating and set a $83.00 price objective on shares of CoStar Group in a research report on Wednesday, February 19th. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Finally, Citigroup dropped their price objective on CoStar Group from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.00.

CoStar Group Stock Down 3.3 %

Shares of NASDAQ:CSGP opened at $74.36 on Friday. The business’s 50 day simple moving average is $74.21 and its two-hundred day simple moving average is $75.49. The firm has a market cap of $30.50 billion, a P/E ratio of 212.46 and a beta of 0.87. 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, 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 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. The business had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. CoStar Group had a return on equity of 3.11% and a net margin of 5.07%. As a group, research analysts forecast that CoStar Group, Inc. will post 0.94 EPS for the current fiscal year.

CoStar Group declared that its Board of Directors has initiated a stock repurchase program on Tuesday, February 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

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.