Merit Financial Group LLC Purchases 693 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Merit Financial Group LLC boosted its position in CoStar Group, Inc. (NASDAQ:CSGP) by 20.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,151 shares of the technology company’s stock after acquiring an additional 693 shares during the period. Merit Financial Group LLC’s holdings in CoStar Group were worth $329,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC boosted its holdings in CoStar Group by 497.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,133 shares of the technology company’s stock valued at $511,000 after acquiring an additional 5,940 shares during the last quarter. Allworth Financial LP boosted its holdings in CoStar Group by 9.7% in the fourth quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock valued at $144,000 after acquiring an additional 173 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in CoStar Group by 6.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 482,712 shares of the technology company’s stock valued at $34,190,000 after acquiring an additional 31,152 shares during the last quarter. Atria Wealth Solutions Inc. boosted its holdings in CoStar Group by 2.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock valued at $557,000 after acquiring an additional 176 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in CoStar Group in the fourth quarter valued at about $30,000. Institutional investors own 96.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Craig Hallum assumed coverage on CoStar Group in a report on Friday, February 28th. They set a “buy” rating on the stock. Bank of America assumed coverage on CoStar Group in a report on Friday, May 30th. They set a “neutral” rating and a $79.00 target price on the stock. Piper Sandler assumed coverage on CoStar Group in a report on Friday, February 28th. They set an “overweight” rating on the stock. Keefe, Bruyette & Woods raised their target price on CoStar Group from $93.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Finally, Wells Fargo & Company raised their target price on CoStar Group from $63.00 to $65.00 and gave the stock an “underweight” rating in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $87.54.

CoStar Group Trading Up 0.9%

NASDAQ CSGP opened at $81.79 on Thursday. The firm has a market cap of $34.51 billion, a P/E ratio of 233.69 and a beta of 0.87. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.96 and a quick ratio of 9.63. The stock’s 50-day moving average is $77.13 and its 200-day moving average is $76.37. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $83.68.

CoStar Group announced that its Board of Directors has initiated a share buyback plan 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 shares through open market purchases. Shares repurchase plans are generally 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.