Do You Think CoStar Group (CSGP) Will Generate Strong Returns Over Time?
Baron Funds, an investment management firm, released its “Focused Growth Fund” fourth quarter 2023 investor letter, a copy of which can be downloaded here. The fund had a strong fourth quarter and increased by 9.74% (Institutional Shares) underperforming the Russell 2500 Growth Index’s (the Benchmark) 12.59% return. Spare some time to check the fund’s top 5 holdings to know more about their top bets for 2023.
Baron Focused Growth Fund featured stocks like CoStar Group, Inc. (NASDAQ:CSGP) in the fourth quarter 2023 investor letter. Headquartered in Washington, the District of Columbia, CoStar Group, Inc. (NASDAQ:CSGP) provides information, analytics, and online marketplace services to commercial and residential property markets. On March 4, 2024, CoStar Group, Inc. (NASDAQ:CSGP) stock closed at $88.59 per share. One-month return of CoStar Group, Inc. (NASDAQ:CSGP) was 5.62%, and its shares gained 25.41% of their value over the last 52 weeks. CoStar Group, Inc. (NASDAQ:CSGP) has a market capitalization of $36.181 billion.
Baron Focused Growth Fund stated the following regarding CoStar Group, Inc. (NASDAQ:CSGP) in its fourth quarter 2023 investor letter:
"Core Growth investments, steady growers that continually invest in their businesses for growth and return excess free-cash-flow to shareholders, represented 22.5% of net assets. An example would be CoStar Group, Inc. (NASDAQ:CSGP), a marketing and data analytics provider to the real estate industry. The company continues to add new services in commercial and residential real estate, which have grown its addressable market and enhanced services for its clients. This has improved client retention and cash flow. CoStar continues to invest its cash flow in its business to accelerate growth, which we believe should generate strong returns over time."
A quantitative analyst studying the data in a virtual simulation of the real estate markets.
CoStar Group, Inc. (NASDAQ:CSGP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, CoStar Group, Inc. (NASDAQ:CSGP) was held by 36 hedge fund portfolios, compared to 36 in the previous quarter, according to our database.
We discussed CoStar Group, Inc. (NASDAQ:CSGP) in another article and shared the list of best real estate stocks to buy. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
