Porch Group (PRCH)’s Performance is In-Line with Vulcan Value Partners’ Expectations

Investment management company Vulcan Value Partners recently released its second quarter 2022 investor letter. A copy of the same can be downloaded here. The firm carries five strategies and all these strategies trailed their benchmark index in the second quarter of 2022. The fund’s Large-Cap Composite returned -28.4% net of fees and expenses, Small Cap Composite returned net -25.8%, Focus Composite returned net -22.8%, Focus Plus composite returned net -22.9% and All Cap Composite returned net -29.1% during the quarter. You can check the top 5 holdings of the fund to know its best picks in 2022.

Vulcan Value Partners discussed stocks like Porch Group, Inc. (NASDAQ:PRCH) in the second quarter investor letter. Headquartered in Seattle, Washington, Porch Group, Inc. (NASDAQ:PRCH) is a software platform provider. On August 23, 2022, Porch Group, Inc. (NASDAQ:PRCH) stock closed at $2.3700 per share. One-month return of Porch Group, Inc. (NASDAQ:PRCH) rose to 16.18% and its shares lost 87.22% of their value over the last 52 weeks. Porch Group, Inc. (NASDAQ:PRCH) has a market capitalization of $236.433 million.

Here is what Vulcan Value Partners specifically said about Porch Group, Inc. (NASDAQ:PRCH):

“Porch Group, Inc. (NASDAQ:PRCH) offers a platform that provides customer relationship management software and services to home services businesses. The company also provides an online concierge service to homebuyers. Porch’s operating performance has been in line with our expectations, though its stock price performance has not.”

Porch Group, Inc. (NASDAQ:PRCH) is not on the list of  30 Most Popular Stocks Among Hedge Funds. As per our database, Porch Group, Inc. (NASDAQ:PRCH) was held by 19 hedge fund portfolios at the end of the first quarter, which was 20 in the previous quarter.

We discussed Porch Group, Inc. (NASDAQ:PRCH) in another article and shared Vulcan Value Partners’ views on the company in the previous quarter. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

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