Porch Group (NASDAQ:PRCH) Stock Price Down 5.3% – What’s Next?

Porch Group, Inc. (NASDAQ:PRCH) was down 5.3% during trading on Tuesday . The company traded as low as $9.14 and last traded at $9.0040. Approximately 197,751 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 747,989 shares. The stock had previously closed at $9.51.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PRCH. Oppenheimer set a $20.00 target price on shares of Porch Group in a report on Thursday, November 6th. Benchmark restated a “buy” rating on shares of Porch Group in a report on Tuesday, November 25th. B. Riley reaffirmed a “buy” rating on shares of Porch Group in a research report on Thursday, November 6th. Zacks Research upgraded Porch Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 4th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Porch Group in a research note on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Porch Group Stock Down 3.6%

The firm has a market cap of $1.13 billion, a PE ratio of 31.59 and a beta of 3.07. 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 business has a fifty day moving average price of $10.35 and a two-hundred day moving average price of $13.43.

Porch Group (NASDAQ:PRCH) last announced its quarterly earnings data 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 negative return on equity of 51.86% and a net margin of 6.91%.The business had revenue of $118.08 million during the quarter, compared to analysts’ expectations of $114.42 million. On average, analysts anticipate that Porch Group, Inc. will post -0.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Porch Group news, CFO Shawn Tabak sold 24,294 shares of the 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 completion of the sale, the chief financial officer owned 118,130 shares in the company, valued at $1,141,135.80. This represents a 17.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have sold 57,216 shares of company stock valued at $553,129. 23.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Porch Group

A number of hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in Porch Group by 2.3% during the second quarter. Geode Capital Management LLC now owns 2,150,086 shares of the company’s stock worth $25,354,000 after buying an additional 48,811 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Porch Group by 26.3% during the 2nd quarter. Bank of Montreal Can now owns 522,082 shares of the company’s stock worth $6,155,000 after acquiring an additional 108,857 shares in the last quarter. Zweig DiMenna Associates LLC increased its holdings in shares of Porch Group by 296.6% during the 2nd quarter. Zweig DiMenna Associates LLC now owns 872,500 shares of the company’s stock valued at $10,287,000 after acquiring an additional 652,500 shares during the last quarter. Calamos Advisors LLC bought a new position in shares of Porch Group in the 2nd quarter valued at approximately $982,000. Finally, Hennessy Advisors Inc. bought a new position in shares of Porch Group in the 2nd quarter valued at approximately $19,607,000. 48.48% of the stock is owned by institutional investors and hedge funds.

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.