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Stock impact report

Third Point Targets CoStar Board As Homes.com Strategy Faces Scrutiny [Yahoo! Finance]

CoStar Group, Inc. (CSGP) 
Last costar group, inc. earnings: 4/28 04:02 pm Check Earnings Report
US:NASDAQ Investor Relations: costargroup.com/investors/stock-info
Company Research Source: Yahoo! Finance
Third Point, led by Dan Loeb, has launched a public activist campaign and proxy fight targeting CoStar Group (NasdaqGS:CSGP). The fund is seeking to overhaul CoStar's board, citing concerns over governance, failed acquisitions, and executive compensation. Third Point is pressing for a potential divestment or shutdown of Homes.com and other residential operations to refocus on commercial real estate. CoStar Group runs a large commercial real estate data and online marketplace business, and in recent years has pushed deeper into residential with platforms such as Homes.com. The new campaign zeroes in on that shift, arguing that residential initiatives have not matched the performance of the core commercial franchise. For investors, the tension between these two sides of the business is now front and center. With an active proxy fight in motion, investors could see meaningful proposals on board composition, capital allocation, and the role of Homes.com. Outcomes are uncertain, b Show less Read more
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