CoStar Group Inc. (NASDAQ:CSGP) is among the 10 best non-tech stocks to buy and hold for 5 years. On March 10, the D.E. Shaw group sent an open letter to the CoStar Group Inc. (NASDAQ:CSGP) board. In the letter, they criticized the decision of CoStar Group Inc. (NASDAQ:CSGP) to reconfigure its reporting segments, expressing concern over the company’s recent change in reporting structure that reduces visibility into its Homes.com business.

According to the letter, the segment reorganization combined Homes.com with the Apartments.com business and three other operations into a new Residential segment. D.E. Shaw also claimed that CoStar Group Inc. (NASDAQ:CSGP) stopped disclosing net new bookings for Homes.com, a metric previously used by investors to track the business’s progress, adding that the company’s management declined to provide segment-level bookings data when requested by analysts during the most recent earnings call.

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D.E. Shaw previously sent a letter and presentation to CoStar’s board on February 4, expressing concerns about Homes.com’s performance. The investment firm stated that the reduced disclosure makes it difficult to hold management accountable for the business unit’s results.

CoStar Group Inc. (NASDAQ:CSGP) provides online real estate marketplaces, information, and analytics for the commercial and residential property markets.

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