Calamos Advisors LLC Invests $982,000 in Porch Group, Inc. $PRCH

Calamos Advisors LLC acquired a new position in Porch Group, Inc. (NASDAQ:PRCH) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 83,299 shares of the company’s stock, valued at approximately $982,000. Calamos Advisors LLC owned 0.07% of Porch Group at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PRCH. Bank of New York Mellon Corp raised its holdings in Porch Group by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 329,379 shares of the company’s stock worth $2,401,000 after purchasing an additional 9,670 shares during the last quarter. CWM LLC raised its stake in Porch Group by 112.2% during the first quarter. CWM LLC now owns 8,732 shares of the company’s stock worth $64,000 after buying an additional 4,617 shares during the last quarter. Zweig DiMenna Associates LLC acquired a new position in Porch Group in the first quarter valued at $1,604,000. Bryce Point Capital LLC bought a new stake in Porch Group during the first quarter valued at $317,000. Finally, Vanguard Group Inc. boosted its position in Porch Group by 5.7% during the first quarter. Vanguard Group Inc. now owns 5,823,961 shares of the company’s stock valued at $42,457,000 after acquiring an additional 312,370 shares during the last quarter. 48.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PRCH shares. The Goldman Sachs Group initiated coverage on Porch Group in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $21.00 price objective for the company. Benchmark reissued a “buy” rating on shares of Porch Group in a research note on Thursday, October 30th. Oppenheimer set a $20.00 price objective on shares of Porch Group in a research report on Thursday, November 6th. Keefe, Bruyette & Woods lifted their price objective on shares of Porch Group from $7.00 to $16.00 and gave the company a “market perform” rating in a research note on Wednesday, August 13th. Finally, Zacks Research lowered shares of Porch Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 5th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.00.

Porch Group Price Performance

Shares of NASDAQ:PRCH opened at $9.72 on Friday. 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 twelve month low of $2.74 and a twelve month high of $19.44. The stock’s 50 day moving average is $15.72 and its 200-day moving average is $13.46. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 33.52 and a beta of 2.84.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.02). Porch Group had a net margin of 6.91% and a negative return on equity of 51.86%. The business had revenue of $118.08 million during the quarter, compared to analyst estimates of $114.42 million. Porch Group has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Porch Group, Inc. will post -0.63 EPS for the current fiscal year.

Insider Transactions at Porch Group

In other Porch Group news, Director Regi Vengalil sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $18.20, for a total transaction of $728,000.00. Following the completion of the sale, the director directly owned 165,903 shares of the company’s stock, valued at approximately $3,019,434.60. The trade was a 19.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Matthew Neagle sold 55,000 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $18.69, for a total value of $1,027,950.00. Following the completion of the sale, the chief operating officer directly owned 999,784 shares of the company’s stock, valued at approximately $18,685,962.96. This trade represents a 5.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 145,000 shares of company stock valued at $2,639,450 over the last three months. Corporate insiders own 23.32% of the company’s stock.

Porch Group Company 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.