TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” second-quarter investor letter. A copy of the same can be downloaded here. In the second quarter, the strategy outperformed the Russell Midcap Growth Index and returned 7.16% (gross) while the index return was 6.23%. Consumer Discretionary, Financials, and Consumer Staples sector showed relative weakness. However, the strength in Industrials, Information Technology, and Health Care sectors offset the setbacks. In addition, please check the fund’s top five holdings to know its best picks in 2023.
TimesSquare Capital U.S. Mid Cap Growth Strategy highlighted stocks like CoStar Group, Inc. (NASDAQ:CSGP) in the second 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 October 2, 2023, CoStar Group, Inc. (NASDAQ:CSGP) stock closed at $75.97 per share. One-month return of CoStar Group, Inc. (NASDAQ:CSGP) was -8.56%, and its shares gained 2.98% of their value over the last 52 weeks. CoStar Group, Inc. (NASDAQ:CSGP) has a market capitalization of $31.021 billion.
TimesSquare Capital U.S. Mid Cap Growth Strategy made the following comment about CoStar Group, Inc. (NASDAQ:CSGP) in its Q2 2023 investor letter:
“Moving to areas of strength, the Industrials sector bolstered performance this quarter. At the lead was the 29% gain from commercial real estate data and analytics provider CoStar Group, Inc. (NASDAQ:CSGP). The company’s revenues and earnings outpaced expectations; management notably increased its earnings guidance for the balance of the year. CoStar’s residential operations—particularly Apartments.com—have grown significantly and offset market concerns about growth for CoStar’s commercial real estate business.”
Speedcurve Performance Analytics
CoStar Group, Inc. (NASDAQ:CSGP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 38 hedge fund portfolios held CoStar Group, Inc. (NASDAQ:CSGP) at the end of second quarter which was 43 in the previous quarter.
We discussed CoStar Group, Inc. (NASDAQ:CSGP) in another article and shared Lakehouse Global Growth Fund’s views on the company. In addition, please check out our hedge fund investor letters Q2 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.
