Published on 8 Nov 2021 on Insider Monkey via Yahoo Finance

CoStar Group Inc (CSGP): Are Hedge Funds Right About This Stock?

The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 873 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F filings show the funds' and investors' portfolio positions as of June 30th. In this article we look at what those investors think of CoStar Group Inc (NASDAQ:CSGP).

Is CoStar Group Inc (NASDAQ:CSGP) undervalued? Money managers were getting more optimistic. The number of long hedge fund bets went up by 6 lately. CoStar Group Inc (NASDAQ:CSGP) was in 49 hedge funds' portfolios at the end of June. The all time high for this statistic is 55. Our calculations also showed that CSGP isn't among the 30 most popular stocks among hedge funds (click for Q2 rankings).

In the financial world there are a large number of tools investors have at their disposal to grade stocks. A pair of the most under-the-radar tools are hedge fund and insider trading indicators. We have shown that, historically, those who follow the top picks of the best fund managers can outperform the broader indices by a solid amount. Insider Monkey's monthly stock picks returned 185.4% since March 2017 and outperformed the S&P 500 ETFs by more than 79 percentage points (see the details here). That's why we believe hedge fund sentiment is a useful indicator that investors should pay attention to.