Here’s How the Forex Challenges Impacted Match Group (MTCH)

Investment management company RGA Investment Advisors recently released its fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. 2022 was a difficult year for the market and forecasting business trends and opportunities were challenging. The firm focuses on growing companies, at reasonable valuations with demonstrable business quality. The firm also believes that Biotech and life science tools and instruments verticals are the most interesting areas for better future returns. You can check the top 5 holdings of the fund to know its best picks in 2022.

RGA Investment Advisors highlighted stocks Match Group, Inc. (NASDAQ:MTCH) in the Q4 2022 investor letter. Headquartered in Dallas, Texas, Match Group, Inc. (NASDAQ:MTCH) is a dating products provider. On February 3, 2023, Match Group, Inc. (NASDAQ:MTCH) stock closed at $48.45 per share. One-month return of Match Group, Inc. (NASDAQ:MTCH) was 10.44%, and its shares lost 57.28% of their value over the last 52 weeks. Match Group, Inc. (NASDAQ:MTCH) has a market capitalization of $13.532 billion.

RGA Investment Advisors made the following comment about Match Group, Inc. (NASDAQ:MTCH) in its Q4 2022 investor letter:

Match Group, Inc. (NASDAQ:MTCH), a long-term holding of ours offers an important illustrative example of these effects. Tinder grew reported revenues 6% year-over-year, accelerating a debate about whether this particular asset has reached a plateau in its growth curve; however, revenues grew 16% on an FX neutral basis. Has this asset stalled or is it a mid-teens grower? Other factors will determine the one true answer to this question, though FX and the stated headline make the answer seem obvious when it is not. When foreign exchange movements are modest, people tend to focus more on FX neutral assuming those changes will normalize over time, yet when movements are extreme the headline takes prominence."

Match Group, Inc. (NASDAQ:MTCH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 54 hedge fund portfolios held Match Group, Inc. (NASDAQ:MTCH) at the end of the third quarter, which was 55 in the previous quarter.

We discussed Match Group, Inc. (NASDAQ:MTCH) in another article and shared the list of stocks receiving downgrades from analysts. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.


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Disclosure: None. This article is originally published at Insider Monkey.