Should CoStar Group Inc (NASDAQ:CSGP) investors track the following data?
In the financial world, there are tons of gauges shareholders can use to track Mr. Market. Two of the most innovative are hedge fund and insider trading sentiment. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the elite investment managers can outpace the S&P 500 by a significant margin (see just how much).
Equally as useful, bullish insider trading activity is a second way to analyze the investments you’re interested in. Just as you’d expect, there are a number of stimuli for an executive to cut shares of his or her company, but just one, very simple reason why they would behave bullishly. Plenty of academic studies have demonstrated the valuable potential of this method if piggybackers understand what to do (learn more here).
Furthermore, let’s examine the latest info surrounding CoStar Group Inc (NASDAQ:CSGP).
How have hedgies been trading CoStar Group Inc (NASDAQ:CSGP)?
Heading into Q3, a total of 16 of the hedge funds we track were long in this stock, a change of 33% from the first quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were increasing their holdings meaningfully.
According to our 13F database, Mariko Gordon’s Daruma Asset Management had the biggest position in CoStar Group Inc (NASDAQ:CSGP), worth close to $87 million, comprising 4.2% of its total 13F portfolio. On Daruma Asset Management’s heels is Columbus Circle Investors, managed by Donald Chiboucis, which held a $75.7 million position; 0.6% of its 13F portfolio is allocated to the stock. Some other hedgies with similar optimism include Steven Cohen’s SAC Capital Advisors, Joseph A. Jolson’s Harvest Capital Strategies and Richard Driehaus’s Driehaus Capital.
With a general bullishness amongst the titans, particular hedge funds were breaking ground themselves. Daruma Asset Management, managed by Mariko Gordon, assembled the most valuable position in CoStar Group Inc (NASDAQ:CSGP). Daruma Asset Management had 87 million invested in the company at the end of the quarter. Donald Chiboucis’s Columbus Circle Investors also initiated a $75.7 million position during the quarter. The other funds with brand new CSGP positions are Steven Cohen’s SAC Capital Advisors, Joseph A. Jolson’s Harvest Capital Strategies, and Richard Driehaus’s Driehaus Capital.
How are insiders trading CoStar Group Inc (NASDAQ:CSGP)?
Insider buying made by high-level executives is at its handiest when the company in question has experienced transactions within the past six months. Over the last six-month time frame, CoStar Group Inc (NASDAQ:CSGP) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We’ll go over the relationship between both of these indicators in other stocks similar to CoStar Group Inc (NASDAQ:CSGP). These stocks are Acadia Realty Trust (NYSE:AKR), Icahn Enterprises LP (NASDAQ:IEP), DuPont Fabros Technology, Inc. (NYSE:DFT), Jones Lang LaSalle Inc (NYSE:JLL), and Forest City Enterprises, Inc. (NYSE:FCE-A). This group of stocks are in the property management industry and their market caps are closest to CSGP’s market cap.