CoStar Group posts Q2 earnings beat as investors increase stakes

CoStar Group Inc. reported second‑quarter net income of $55 million, or 14 cents per share on a basic basis. Adjusted earnings were $0.32 per share, surpassing the Wall Street consensus of $0.28. Revenue for the quarter reached $925 million, slightly below analysts' estimate of $929.3 million. The company forecast third‑quarter earnings of $0.31‑$0.34 per share and revenue of $935‑$945 million, and full‑year earnings of $1.32‑$1.39 per share with revenue of $3.72‑$3.76 billion.

Dimensional Fund Advisors LP increased its holding in CoStar Group by 3.5%, bringing its stake to about 0.59% (2,401,852 shares worth roughly $96.9 million). Other institutional investors, including Barclays PLC, Baillie Gifford & Co., and Envestnet Portfolio Solutions, also raised their positions during recent quarters, contributing to the overall 96.6% institutional ownership of the stock.