Shares of CoStar Group, Inc. (CSGP, Financial), a real estate information and marketing services company, detracted from performance as markets declined significantly due to the COVID-19 outbreak. However, business trends are outstanding, with the company’s bookings improving by approximately 20% year-over-year in 2019. We are optimistic about the company’s growth prospects in the multi-family marketing space, which should be enhanced by the pending acquisition of RentPath, the ramping success in the LoopNet marketplace, and sustained growth in its core information services business.
From Ron Baron (Trades, Portfolio)'s Baron Partners Fund first-quarter 2020 shareholder commentary.
