Y Intercept Hong Kong Ltd Takes Position in Porch Group, Inc. $PRCH

Y Intercept Hong Kong Ltd purchased a new position in shares of Porch Group, Inc. (NASDAQ:PRCH) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 66,374 shares of the company’s stock, valued at approximately $1,114,000. Y Intercept Hong Kong Ltd owned approximately 0.05% of Porch Group at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PRCH. Divisadero Street Capital Management LP acquired a new position in Porch Group during the 2nd quarter worth $28,810,000. Hennessy Advisors Inc. bought a new position in shares of Porch Group during the second quarter worth about $19,607,000. Marshall Wace LLP grew its stake in Porch Group by 55.2% in the second quarter. Marshall Wace LLP now owns 3,341,484 shares of the company’s stock worth $39,396,000 after purchasing an additional 1,188,273 shares in the last quarter. Gilder Gagnon Howe & Co. LLC increased its holdings in Porch Group by 41.3% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 2,459,623 shares of the company’s stock valued at $28,999,000 after buying an additional 719,412 shares during the last quarter. Finally, Zweig DiMenna Associates LLC raised its stake in Porch Group by 296.6% during the second quarter. Zweig DiMenna Associates LLC now owns 872,500 shares of the company’s stock valued at $10,287,000 after buying an additional 652,500 shares in the last quarter. 48.48% of the stock is owned by institutional investors and hedge funds.

Porch Group Price Performance

Shares of NASDAQ PRCH opened at $7.89 on Friday. The company has a debt-to-equity ratio of 36.18, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $975.84 million, a PE ratio of 27.21 and a beta of 3.07. Porch Group, Inc. has a 1-year low of $3.72 and a 1-year high of $19.44. The business’s fifty day moving average price is $9.12 and its two-hundred day moving average price is $12.98.

Porch Group (NASDAQ:PRCH) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The firm had revenue of $118.08 million for the quarter, compared to the consensus estimate of $114.42 million. Porch Group had a negative return on equity of 51.86% and a net margin of 6.91%. On average, research analysts expect that Porch Group, Inc. will post -0.63 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Benchmark reiterated a “buy” rating on shares of Porch Group in a research report on Friday, January 16th. Zacks Research downgraded shares of Porch Group from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. B. Riley reiterated a “buy” rating on shares of Porch Group in a research note on Thursday, November 6th. Oppenheimer set a $20.00 price target on shares of Porch Group in a research report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Porch Group in a research report on Monday, December 29th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Insider Activity at Porch Group

In other Porch Group news, CFO Shawn Tabak sold 24,294 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $9.66, for a total value of $234,680.04. Following the sale, the chief financial officer owned 118,130 shares in the company, valued at approximately $1,141,135.80. This trade represents a 17.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 57,216 shares of company stock valued at $553,129 in the last quarter. 23.32% of the stock is currently owned by company insiders.

Porch Group Company Profile

Porch Group, Inc operates a technology-driven home services platform designed to connect homeowners with professional contractors, maintenance providers and home improvement specialists. Through its online marketplace and proprietary software solutions, Porch enables users to research, compare and book services ranging from home repairs and remodeling to maintenance and renovations. The company’s platform integrates detailed provider profiles, customer reviews and real-time appointment scheduling to streamline the process of sourcing and managing home projects.

In addition to its core marketplace, Porch offers software products tailored for service professionals.