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Ron Baron Cuts CoStar, Vail Resorts

Ron Baron (Trades, Portfolio)'s Baron Funds sold shares of the following stocks during the fourth quarter of 2019.

CoStar Group

The guru reduced the CoStar Group Inc. (CSGP) position by 5.16%. The portfolio was impacted by -0.3%.


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The provider of commercial real estate data has a market cap of $26.24 billion and an enterprise value of $24.99 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 9.96% and return on assets of 8.92% are outperforming 65% of companies in the real estate industry. Its financial strength is rated 9 out of 10. The cash-debt ratio of 9.58 is above the industry median of 0.26.

Baron's firm is the largest guru shareholder with 6.20% of outstanding shares, followed by Frank Sands (Trades, Portfolio) with 3.76% and Chuck Akre (Trades, Portfolio) with 0.68%.

Vail Resorts

The investor curbed his Vail Resorts Inc. (MTN) position by 5.45%. The portfolio was impacted by -0.25%.

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The resort and casinos company has a market cap of $10.15 billion and an enterprise value of $12.53 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 20.8% and return on assets of 6.75% are outperforming 77% of companies in the travel and leisure industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.06 is below the industry median of 0.44.

Baron's firm is the largest guru shareholder with 11.31% of outstanding shares, followed by Diamond Hill Capital (Trades, Portfolio) with 1.19% and Pioneer Investments (Trades, Portfolio) with 0.17%.

Cision

Baron closed his Cision Ltd. (CISN) position. The portfolio was impacted by -0.19%.

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The media communication company has a market cap of $1.48 billion and an enterprise value of $2.74 billion.

GuruFocus gives the company a profitability and growth rating of 3 out of 10. The return on equity of -1.21% and the return on assets of -0.24% are underperforming 57% of companies in the software industry. Its financial strength is rated 3 out of 10. The cash-debt ratio of 0.07 is below the industry median of 2.16.

The largest guru shareholder of the company is Jim Simons (Trades, Portfolio)' Renaissance Technologies with 0.37% of outstanding shares, followed by Mario Gabelli (Trades, Portfolio)'s GAMCO Investors with 0.11% and Joel Greenblatt (Trades, Portfolio)'s Gotham Asset Management with 0.04%.

Expedia Group

The guru exited his Expedia Group Inc. (EXPE) position. The trade had an impact of -0.17% on the portfolio.

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The world's largest online travel agency has a market cap of $16.82 billion and an enterprise value of $20.01 billion.

GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 13.66% and return on assets of 2.72% are outperforming 53% of companies in the travel and leisure industry. Its financial strength is rated 5 out of 10 with a cash-debt ratio of 0.07.

The company's largest guru shareholders include Simons' firm with 0.65% of outstanding shares, Steven Cohen (Trades, Portfolio)'s Point72 Asset Management with 0.26% and Pioneer Investments (Trades, Portfolio) with 0.24%.

IDEXX Laboratories

The investor cut his IDEXX Laboratories Inc. (IDXX) position by 3.4%. The portfolio was impacted by -0.15%.

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The developer and distributor of diagnostic products has a market cap of $23.73 billion and an enterprise value of $24.71 billion.

GuruFocus gives the company a profitability and growth rating of 10 out of 10. The return on equity of 360.53% and return on assets of 25.08% are outperforming 94% of companies in the medical diagnostics and research industry. Its financial strength is rated 5 out of 10 with a cash-debt ratio of 0.08.

The largest guru shareholders of the company are Baron's firm with 4.42% of outstanding shares, Simons with 0.75% and Pioneer Investments (Trades, Portfolio) with 0.19%.

Maximus

Baron cut his Maximum Inc. (MMS) position by 66.04%. The portfolio was impacted by -0.13%.

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The operator of government health and human services programs has a market cap of $4.51 billion and an enterprise value of $4.58 billion.

GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 20.17% and return on assets of 13.87% are outperforming 83% of companies in the business services industry. Its financial strength is rated 8 out of 10. The cash-debt ratio of 0.7 is above the industry median of 0.65.

Other guru shareholders of the company include Pioneer Investments (Trades, Portfolio) with 0.34% of outstanding shares, Baron's firm with 0.33% and Simons' firm with 0.25%.

Nokia Oyj

The investor exited the Nokia Oyj (NOK) position. The portfolio was impacted by -0.12%.

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The provider of telecommunication equipment has a market cap of $23.32 billion and an enterprise value of $22.46 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of 0.04% and return on assets of 0.02% are underperforming 67% of companies in the hardware industry. Its financial strength is rated 5 out of 10 with a cash-debt ratio of 1.16.

Other guru shareholders of the company include PRIMECAP Management (Trades, Portfolio) with 0.64% of outstanding shares, John Rogers (Trades, Portfolio) with 0.32% and Ken Heebner (Trades, Portfolio) with 0.14%.

Disclosure: I do not own any stocks mentioned.

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This article first appeared on GuruFocus.