RAM Investment Partners LLC Makes New Investment in Porch Group, Inc. $PRCH

RAM Investment Partners LLC purchased a new position in shares of Porch Group, Inc. (NASDAQ:PRCH) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 95,490 shares of the company’s stock, valued at approximately $872,000. RAM Investment Partners LLC owned approximately 0.08% of Porch Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the stock. Deutsche Bank AG increased its position in Porch Group by 5.8% during the fourth quarter. Deutsche Bank AG now owns 61,702 shares of the company’s stock worth $563,000 after buying an additional 3,404 shares in the last quarter. Fox Run Management L.L.C. increased its position in Porch Group by 93.1% during the fourth quarter. Fox Run Management L.L.C. now owns 25,700 shares of the company’s stock worth $235,000 after buying an additional 12,392 shares in the last quarter. State of Wyoming purchased a new position in Porch Group during the fourth quarter worth $187,000. Thompson Siegel & Walmsley LLC increased its position in Porch Group by 360.9% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 644,663 shares of the company’s stock worth $5,886,000 after buying an additional 504,803 shares in the last quarter. Finally, Zweig DiMenna Associates LLC increased its position in Porch Group by 36.9% during the fourth quarter. Zweig DiMenna Associates LLC now owns 1,329,200 shares of the company’s stock worth $12,136,000 after buying an additional 358,400 shares in the last quarter. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PRCH. Weiss Ratings reissued a “sell (d-)” rating on shares of Porch Group in a research report on Friday, May 22nd. Zacks Research raised Porch Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Benchmark lifted their price objective on Porch Group from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Stephens started coverage on Porch Group in a research report on Monday, May 4th. They issued an “overweight” rating and a $12.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.21.

Insider Activity at Porch Group

In other Porch Group news, CEO Matt Ehrlichman sold 145,882 shares of the business’s stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $6.84, for a total transaction of $997,832.88. Following the transaction, the chief executive officer owned 17,163,175 shares in the company, valued at $117,396,117. The trade was a 0.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 2,505,010 shares of company stock worth $22,195,198 in the last 90 days. Insiders own 27.78% of the company’s stock.

Porch Group Trading Up 3.3%

Shares of PRCH opened at $9.72 on Friday. The stock’s 50-day moving average is $9.11 and its two-hundred day moving average is $8.68. The stock has a market cap of $1.24 billion, a PE ratio of -57.17 and a beta of 3.22. Porch Group, Inc. has a 12 month low of $6.36 and a 12 month high of $19.44. The company has a debt-to-equity ratio of 14.87, a current ratio of 1.28 and a quick ratio of 1.28.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings data on Tuesday, April 28th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.06. The company had revenue of $109.44 million for the quarter, compared to analysts’ expectations of $94.72 million. Porch Group had a negative return on equity of 115.59% and a negative net margin of 3.41%. Equities analysts forecast that Porch Group, Inc. will post -0.04 earnings per share for the current fiscal year.

About Porch Group

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.