Y Intercept Hong Kong Ltd Makes New Investment in Porch Group, Inc. $PRCH

Y Intercept Hong Kong Ltd purchased a new position in Porch Group, Inc. (NASDAQ:PRCH) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 66,374 shares of the company’s stock, valued at approximately $1,114,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Marshall Wace LLP lifted its holdings 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 during the period. Gilder Gagnon Howe & Co. LLC raised its position in shares of Porch Group by 41.3% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 2,459,623 shares of the company’s stock worth $28,999,000 after buying an additional 719,412 shares in the last quarter. Divisadero Street Capital Management LP bought a new stake in shares of Porch Group during the 2nd quarter worth about $28,810,000. Geode Capital Management LLC lifted its stake in shares of Porch Group by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,150,086 shares of the company’s stock worth $25,354,000 after acquiring an additional 48,811 shares during the period. Finally, Hennessy Advisors Inc. bought a new position in shares of Porch Group in the second quarter valued at approximately $19,607,000. 48.48% of the stock is currently owned by institutional investors.

Insider Activity at Porch Group

In other news, CFO Shawn Tabak sold 24,294 shares of Porch Group 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 transaction, the chief financial officer directly owned 118,130 shares of the company’s stock, valued at $1,141,135.80. This trade represents a 17.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 57,216 shares of company stock valued at $553,129 in the last ninety days. Company insiders own 23.32% of the company’s stock.

Porch Group Stock Performance

Shares of NASDAQ PRCH opened at $7.89 on Friday. The stock’s fifty day simple moving average is $9.12 and its 200 day simple moving average is $12.98. The stock has a market capitalization of $975.84 million, a price-to-earnings ratio of 27.21 and a beta of 3.07. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 36.18. Porch Group, Inc. has a 52-week low of $3.72 and a 52-week high of $19.44.

Porch Group (NASDAQ:PRCH) last announced its 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 company had revenue of $118.08 million for the quarter, compared to analysts’ expectations of $114.42 million. Porch Group had a net margin of 6.91% and a negative return on equity of 51.86%. As a group, sell-side analysts forecast that Porch Group, Inc. will post -0.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.