Jupiter Asset Management Ltd. Takes Position in CoStar Group, Inc. $CSGP

Jupiter Asset Management Ltd. purchased a new stake in CoStar Group, Inc. (NASDAQ:CSGP) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 383,230 shares of the technology company’s stock, valued at approximately $32,333,000. Jupiter Asset Management Ltd. owned 0.09% of CoStar Group as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Quent Capital LLC acquired a new stake in shares of CoStar Group in the third quarter valued at about $26,000. Rossby Financial LCC raised its position in shares of CoStar Group by 315.9% during the 2nd quarter. Rossby Financial LCC now owns 341 shares of the technology company’s stock worth $27,000 after purchasing an additional 259 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in CoStar Group in the 3rd quarter valued at about $28,000. Westside Investment Management Inc. lifted its stake in CoStar Group by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 360 shares of the technology company’s stock valued at $30,000 after buying an additional 180 shares in the last quarter. Finally, Root Financial Partners LLC acquired a new stake in CoStar Group in the 3rd quarter worth about $31,000. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on CSGP. Needham & Company LLC decreased their target price on CoStar Group from $105.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Keefe, Bruyette & Woods dropped their target price on shares of CoStar Group from $100.00 to $75.00 and set an “outperform” rating for the company in a report on Monday, January 12th. Jefferies Financial Group upgraded shares of CoStar Group from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a research report on Friday. BTIG Research upgraded shares of CoStar Group from a “neutral” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Tuesday, January 27th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of CoStar Group in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $82.18.

CoStar Group Price Performance

CoStar Group stock opened at $49.07 on Friday. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average price of $60.61 and a 200 day moving average price of $72.95. CoStar Group, Inc. has a 12-month low of $43.80 and a 12-month high of $97.43. The stock has a market cap of $20.80 billion, a P/E ratio of 981.40, a PEG ratio of 1.28 and a beta of 0.84.

CoStar Group announced that its board has initiated a share repurchase plan on Wednesday, January 7th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

CoStar Group Profile

CoStar Group, Inc is a provider of information, analytics and online marketplaces for the commercial real estate industry. The company gathers property-level data, builds market analytics and supplies research tools used by brokers, owners, lenders, investors and other real estate professionals to evaluate markets, track inventory and manage listings. CoStar’s offerings are delivered primarily through subscription-based platforms that combine proprietary databases, mapping and workflow applications to support decision-making across the property life cycle.

In addition to its core CoStar research service, the company operates prominent online listing and marketing platforms that connect buyers, sellers, tenants and brokers.