Shares of CoStar Group, Inc. (NASDAQ:CSGP), a real estate information and marketing services company, added to performance. Business trends are excellent, with the company’s bookings improving by approximately 36% year-over-year. We are excited about the successful integration of ForRent into Apartments.com, and see sustained growth of 20% or more in the multi-family market. We expect the company to begin to raise prices given its unique competitive position in commercial real estate data. The company has over $1.2 billion of cash on its balance sheet, which we expect it to use for acquisitions.
From Ron Baron (Trades, Portfolio)'s Baron Growth Fund second-quarter 2019 shareholder commentary.
