Porch Group, Inc. $PRCH Position Increased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Porch Group, Inc. (NASDAQ:PRCH) by 285.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 429,004 shares of the company’s stock after buying an additional 317,580 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.35% of Porch Group worth $5,058,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. CWM LLC boosted its holdings in shares of Porch Group by 20.1% during the second quarter. CWM LLC now owns 10,485 shares of the company’s stock valued at $124,000 after acquiring an additional 1,753 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Porch Group by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,275 shares of the company’s stock valued at $352,000 after purchasing an additional 2,002 shares during the last quarter. AlphaQuest LLC acquired a new position in Porch Group during the 2nd quarter valued at about $33,000. Deutsche Bank AG grew its position in Porch Group by 5.6% in the 1st quarter. Deutsche Bank AG now owns 53,845 shares of the company’s stock worth $393,000 after purchasing an additional 2,872 shares during the last quarter. Finally, Viewpoint Capital Management LLC increased its stake in shares of Porch Group by 1.7% in the second quarter. Viewpoint Capital Management LLC now owns 208,400 shares of the company’s stock valued at $2,457,000 after purchasing an additional 3,500 shares during the period. 48.48% of the stock is owned by institutional investors and hedge funds.

Porch Group Stock Up 0.3%

PRCH opened at $10.20 on Friday. Porch Group, Inc. has a one year low of $2.74 and a one year high of $19.44. The company has a debt-to-equity ratio of 36.18, a quick ratio of 1.33 and a current ratio of 1.33. The stock’s fifty day moving average is $15.89 and its 200-day moving average is $13.43. The company has a market capitalization of $1.25 billion, a PE ratio of 35.17 and a beta of 2.84.

Porch Group (NASDAQ:PRCH) last announced its earnings results on Wednesday, November 5th. The company reported ($0.10) earnings per share 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 net margin of 6.91% and a negative return on equity of 51.86%. Porch Group has set its FY 2025 guidance at EPS. On average, equities analysts predict that Porch Group, Inc. will post -0.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PRCH. Weiss Ratings downgraded Porch Group from a “hold (c)” rating to a “sell (d+)” rating in a research report on Monday. Oppenheimer set a $20.00 price target on Porch Group in a research report on Thursday, November 6th. Zacks Research lowered Porch Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 5th. Cantor Fitzgerald restated an “overweight” rating and set a $20.00 price objective on shares of Porch Group in a research note on Tuesday, September 2nd. Finally, Keefe, Bruyette & Woods increased their target price on shares of Porch Group from $7.00 to $16.00 and gave the company a “market perform” rating in a research report on Wednesday, August 13th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Insider Transactions at Porch Group

In related news, Director Regi Vengalil sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $18.20, for a total value of $728,000.00. Following the sale, the director directly owned 165,903 shares in the company, valued at $3,019,434.60. The trade was a 19.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Amanda L. Reierson sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $17.67, for a total transaction of $883,500.00. Following the sale, the director owned 151,375 shares of the company’s stock, valued at $2,674,796.25. The trade was a 24.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 145,000 shares of company stock valued at $2,639,450 in the last quarter. Insiders own 23.32% of the company’s stock.

Porch Group Profile

Porch Group, Inc, together with its subsidiaries, operates a vertical software and insurance platform in the United States. The company operates in two segments, Vertical Software and Insurance. The Vertical Software segment provides software and services to inspection, mortgage, and title companies on a subscription and transactional basis, as well as move and post-move services.