Is CoStar Group (CSGP) an Attractive Investment?

Weitz Investment Management, an investment management firm, released its “Hickory Fund” third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund returned -9.07% compared to a -3.44% return for the Russell Midcap index. The third-quarter returns declined due to investors’ perception of anticipated Federal Reserve policy actions. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Weitz Investment Management discussed stocks like CoStar Group, Inc. (NASDAQ:CSGP) in the Q3 2022 investor letter. Headquartered in Washington, the District of Columbia, CoStar Group, Inc. (NASDAQ:CSGP) is an online marketplace for real estate services, information, and analytics. On October 26, 2022, CoStar Group, Inc. (NASDAQ:CSGP) stock closed at $80.04 per share. One-month return of CoStar Group, Inc. (NASDAQ:CSGP) was 13.23% and its shares lost 8.60% of their value over the last 52 weeks. CoStar Group, Inc. (NASDAQ:CSGP) has a market capitalization of $32.545 billion.

Weitz Investment Management made the following comment about CoStar Group, Inc. (NASDAQ:CSGP) in its Q3 2022 investor letter:

“As we make our way through this bear market, good news has been harder to come by. CoStar Group, Inc. (NASDAQ:CSGP)  was the portfolio standout in the third quarter. Shares rallied on the news that it would be added to the S&P 500 index, and investors looked to capitalize on the subsequent index fund buying. The portfolio also enjoyed positive contributions from Ingersoll Rand and HEICO.”

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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, 47 hedge fund portfolios held CoStar Group, Inc. (NASDAQ:CSGP) at the end of the second quarter which was 44 in the previous quarter.

We discussed CoStar Group, Inc. (NASDAQ:CSGP) in another article and shared Baron Funds’ views on the company. In addition, please check out our hedge fund investor letters Q3 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.