Akre Capital Boosts Stake in CoStar Group Amid Strong Performance

Published 6 hours agoCSGP

Akre Capital Boosts Stake in CoStar Group Amid Strong Performance

Akre Capital Management has bolstered its investment in CoStar Group, Inc., a leading provider of commercial real estate information and analytics. The firm increased its stake by 0.75% in the fourth quarter, acquiring an additional 7,168 shares at an average price of $876.98 each. This move reflects Charles Akre's confidence in the company's growth potential.

Currently, Akre Capital Management holds 965,961 shares, which constitutes 6.03% of its equity portfolio, ranking CoStar Group as the firm's fifth-largest holding. CoStar Group has shown strong financial results, reporting a Q4 non-GAAP EPS of $0.33 and revenue of $640 million, surpassing Wall Street expectations, as reported by Insider Monkey. The company is a dominant force in the commercial real estate information sector, serving brokers and industry professionals worldwide.

CoStar Group's valuation metrics indicate a high price-to-earnings ratio of 125.01, a price-to-book ratio of 6.9, and a price-to-sales ratio of 22.07, according to GuruFocus. These figures highlight the premium investors are willing to pay for the company's growth prospects. CoStar's shares are currently trading at $75.43, with recent market data showing slight upward movement. These developments underscore the positive sentiment surrounding CoStar Group's future potential.

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