Dan Loeb, Third Point drop CoStar stake after activist campaign

Third Point hedge fund maven Dan Loeb isn’t simply ending an activist campaign pushing for change at the CoStar Group, the firm is washing its hands of the real estate data firm completely. Loeb’s hedge fund liquidated its position in CoStar after failing to get the desired results from its pressure campaign, Bisnow reported. The size of Third Point’s stake was unclear, but it counted more than 2 million shares as of June. “We no longer believe that our original thesis ​holds true today and have disposed of our position in its entirety,” Loeb wrote to investors, declaring a strategic […] This article originally appeared on The Real Deal. Click here to read the full story.