CenterBook Partners LP Purchases Shares of 10,808 CoStar Group, Inc. $CSGP

CenterBook Partners LP acquired a new position 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 fund acquired 10,808 shares of the technology company’s stock, valued at approximately $912,000.

Other institutional investors have also modified their holdings of the company. ING Groep NV raised its position in CoStar Group by 1,950.5% during the third quarter. ING Groep NV now owns 128,052 shares of the technology company’s stock valued at $10,804,000 after acquiring an additional 121,807 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of CoStar Group by 14.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,380 shares of the technology company’s stock worth $14,459,000 after purchasing an additional 21,225 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of CoStar Group by 51.6% during the 3rd quarter. UMB Bank n.a. now owns 225,305 shares of the technology company’s stock valued at $19,009,000 after purchasing an additional 76,720 shares in the last quarter. Swedbank AB raised its holdings in shares of CoStar Group by 21.0% during the 3rd quarter. Swedbank AB now owns 302,360 shares of the technology company’s stock valued at $25,510,000 after purchasing an additional 52,433 shares in the last quarter. Finally, Generali Asset Management SPA SGR lifted its stake in shares of CoStar Group by 641.8% in the 3rd quarter. Generali Asset Management SPA SGR now owns 23,880 shares of the technology company’s stock valued at $2,015,000 after purchasing an additional 20,661 shares during the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analyst Ratings Changes

CSGP has been the topic of several analyst reports. Jefferies Financial Group raised shares of CoStar Group from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a research report on Friday. The Goldman Sachs Group reissued a “buy” rating and set a $84.00 price objective on shares of CoStar Group in a report on Wednesday, January 14th. Citigroup restated a “market outperform” rating on shares of CoStar Group in a report on Thursday, January 8th. Needham & Company LLC decreased their target price on CoStar Group from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Finally, BMO Capital Markets dropped their price target on shares of CoStar Group from $77.00 to $72.00 and set a “market perform” rating on the stock in a research report on Thursday, January 8th. One 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $82.18.

CoStar Group Stock Performance

CSGP opened at $49.87 on Friday. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.12. The stock’s 50 day moving average price is $60.24 and its two-hundred day moving average price is $72.62. The firm has a market capitalization of $21.14 billion, a P/E ratio of 997.40, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. CoStar Group, Inc. has a 12-month low of $43.80 and a 12-month high of $97.43.

CoStar Group declared that its board has initiated a stock repurchase program on Wednesday, January 7th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is 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.