CoStar Group (NASDAQ:CSGP) Sets New 12-Month Low – Time to Sell?

CoStar Group, Inc. (NASDAQ:CSGP)’s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $48.73 and last traded at $48.6480, with a volume of 126040 shares. The stock had previously closed at $50.28.

Analyst Ratings Changes

A number of analysts have recently weighed in on CSGP shares. Citigroup reiterated a “market outperform” rating on shares of CoStar Group in a research note on Thursday, January 8th. Zacks Research lowered shares of CoStar Group from a “hold” rating to a “strong sell” rating in a report on Friday, January 9th. The Goldman Sachs Group reissued a “buy” rating and set a $84.00 price target on shares of CoStar Group in a report on Wednesday, January 14th. Jefferies Financial Group upgraded shares of CoStar Group to a “hold” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of CoStar Group in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $83.00.

CoStar Group Stock Up 0.9%

The firm has a market capitalization of $21.51 billion, a PE ratio of 1,014.24, a price-to-earnings-growth ratio of 1.32 and a beta of 0.84. 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 business has a 50-day moving average price of $64.26 and a 200-day moving average price of $75.61.

CoStar Group announced that its Board of Directors has initiated a share buyback program on Wednesday, January 7th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On CoStar Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quent Capital LLC purchased a new position in shares of CoStar Group during the third quarter worth $26,000. Rossby Financial LCC lifted 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 third quarter valued at approximately $28,000. Lloyd Advisory Services LLC. acquired a new stake in shares of CoStar Group in the 4th quarter valued at about $29,000. Finally, Westside Investment Management Inc. increased its position in CoStar Group by 100.0% during the third quarter. Westside Investment Management Inc. now owns 360 shares of the technology company’s stock worth $30,000 after buying an additional 180 shares during the period. 96.60% of the stock is owned by hedge funds and other institutional investors.

About CoStar Group

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.