Zweig DiMenna Associates LLC Acquires 358,400 Shares of Porch Group, Inc. $PRCH

Zweig DiMenna Associates LLC raised its holdings in Porch Group, Inc. (NASDAQ:PRCH) by 36.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,329,200 shares of the company’s stock after acquiring an additional 358,400 shares during the quarter. Zweig DiMenna Associates LLC owned approximately 1.07% of Porch Group worth $12,136,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd grew its position in Porch Group by 956.3% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock valued at $26,000 after acquiring an additional 1,377 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of Porch Group by 444.8% during the third quarter. Larson Financial Group LLC now owns 1,836 shares of the company’s stock valued at $31,000 after acquiring an additional 1,499 shares in the last quarter. RiverPark Advisors LLC bought a new stake in shares of Porch Group during the third quarter valued at approximately $39,000. State of Wyoming bought a new stake in shares of Porch Group during the second quarter valued at approximately $111,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Porch Group during the third quarter valued at approximately $168,000. Institutional investors own 48.48% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PRCH. Keefe, Bruyette & Woods raised shares of Porch Group from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $13.00 to $10.50 in a research note on Wednesday, February 11th. Benchmark lifted their price target on shares of Porch Group from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Zacks Research raised shares of Porch Group from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Stephens began coverage on shares of Porch Group in a research note on Monday, May 4th. They set an “overweight” rating and a $12.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Porch Group in a research note on Friday, May 22nd. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $17.21.

Porch Group Stock Performance

Shares of PRCH stock opened at $10.42 on Friday. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -61.29 and a beta of 3.24. The company’s 50 day moving average is $8.63 and its 200 day moving average is $8.68. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 14.87. Porch Group, Inc. has a 52-week low of $6.36 and a 52-week high of $19.44.

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

Insider Transactions at Porch Group

In related news, CEO Matt Ehrlichman sold 145,882 shares of Porch Group stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $6.84, for a total transaction of $997,832.88. Following the transaction, the chief executive officer directly owned 17,163,175 shares of the company’s stock, valued at $117,396,117. This trade represents a 0.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 2,501,066 shares of company stock worth $22,152,327 over the last 90 days. Company insiders own 27.78% of the company’s stock.

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.