CoStar Group (NASDAQ:CSGP) Sets New 52-Week Low – Time to Sell?

CoStar Group, Inc. (NASDAQ:CSGP)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $54.62 and last traded at $54.29, with a volume of 2265106 shares. The stock had previously closed at $61.18.

Analyst Ratings Changes

A number of analysts recently issued reports on CSGP shares. Deutsche Bank Aktiengesellschaft set a $68.00 price target on CoStar Group in a research report on Thursday, January 8th. Royal Bank Of Canada restated a “sector perform” rating and issued a $91.00 target price on shares of CoStar Group in a report on Thursday, October 9th. BNP Paribas Exane initiated coverage on shares of CoStar Group in a research note on Wednesday, January 14th. They set a “neutral” rating and a $64.00 price target for the company. Weiss Ratings reissued a “sell (d)” rating on shares of CoStar Group in a research report on Monday, December 29th. Finally, BMO Capital Markets dropped their target price on CoStar Group from $77.00 to $72.00 and set a “market perform” rating for the company in a research report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and an average price target of $83.00.

CoStar Group Stock Down 2.6%

The company has a market cap of $21.61 billion, a P/E ratio of 1,019.80, a price-to-earnings-growth ratio of 1.37 and a beta of 0.84. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.12 and a current ratio of 3.12. The business’s fifty day moving average is $64.63 and its two-hundred day moving average is $76.02.

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

Institutional Trading of CoStar Group

Several institutional investors and hedge funds have recently made changes to their positions in CSGP. Vanguard Group Inc. increased its holdings in shares of CoStar Group by 1.8% in the third quarter. Vanguard Group Inc. now owns 70,056,441 shares of the technology company’s stock valued at $5,910,662,000 after purchasing an additional 1,208,958 shares during the period. Bamco Inc. NY boosted its position in CoStar Group by 3.4% in the second quarter. Bamco Inc. NY now owns 19,679,935 shares of the technology company’s stock valued at $1,582,267,000 after buying an additional 647,413 shares during the last quarter. State Street Corp lifted its stake in CoStar Group by 3.1% during the 3rd quarter. State Street Corp now owns 18,284,128 shares of the technology company’s stock valued at $1,542,632,000 after acquiring an additional 551,160 shares during the period. Baillie Gifford & Co. boosted its holdings in shares of CoStar Group by 56.9% in the 4th quarter. Baillie Gifford & Co. now owns 12,933,185 shares of the technology company’s stock valued at $869,627,000 after acquiring an additional 4,691,543 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of CoStar Group by 2.4% in the second quarter. Geode Capital Management LLC now owns 12,357,840 shares of the technology company’s stock worth $989,905,000 after acquiring an additional 290,404 shares during the period. 96.60% of the stock is currently owned by 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.