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Should You Add CoStar Group (CSGP) to Your Portfolio?

Soumya Eswaran
·2 分鐘文章

Artisan Partners, an investment management company, released its “Artisan Mid Cap Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, its Investor Class fund ARTMX returned -1.13%, Advisor Class fund APDMX posted a return of -1.12%, and Institutional Class fund APHMX returned -1.07%, compared to a return of 6.90% for the Russell Midcap Growth Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Artisan Partners highlighted stocks like CoStar Group, Inc. (NASDAQ:CSGP) in the fourth quarter 2022 investor letter. Headquartered in Washington, the District of Columbia, CoStar Group, Inc. (NASDAQ:CSGP) provides information, analytics, and marketplace services to commercial real estate. On January 19, 2023, CoStar Group, Inc. (NASDAQ:CSGP) stock closed at $76.62 per share. One-month return of CoStar Group, Inc. (NASDAQ:CSGP) was -0.35%, and its shares gained 8.04% of their value over the last 52 weeks. CoStar Group, Inc. (NASDAQ:CSGP) has a market capitalization of $31.161 billion.

Artisan Partners made the following comment about CoStar Group, Inc. (NASDAQ:CSGP) in its Q4 2022 investor letter:

“Other notable adds in the quarter included CoStar Group, Inc. (NASDAQ:CSGP), Agilent Technologies and Five Below. CoStar Group, a leading provider of information services to the global real estate industry, is driving an attractive profit cycle premised on CoStar Suite, a compelling product set that generates consistent, subscription-based recurring revenues. The company reported 17% organic revenue growth in the quarter, with a little over half of that coming from adding new customers. These revenues should prove to be relatively resilient in the face of an economic slowdown. In fact, we believe parts of CoStar’s business, such as Apartments.com and LoopNet, could improve in a recession as the customer base will need to spend more on advertising as vacancies increase.”

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CoStar Group, Inc. (NASDAQ:CSGP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 40 hedge fund portfolios held CoStar Group, Inc. (NASDAQ:CSGP) at the end of the third quarter, which was 47 in the previous quarter.

We discussed CoStar Group, Inc. (NASDAQ:CSGP) in another article and shared Conestoga Capital Advisors' views on the company. In addition, please check out our hedge fund investor letters Q4 2022 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.