Quadrature Capital Ltd Takes $189,000 Position in Porch Group, Inc. (NASDAQ:PRCH)

Quadrature Capital Ltd acquired a new stake in shares of Porch Group, Inc. (NASDAQ:PRCH) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 61,435 shares of the company’s stock, valued at approximately $189,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PRCH. Victory Capital Management Inc. purchased a new stake in Porch Group during the fourth quarter valued at approximately $32,000. Cape Investment Advisory Inc. purchased a new stake in Porch Group during the fourth quarter valued at approximately $39,000. SG Americas Securities LLC purchased a new stake in Porch Group during the fourth quarter valued at approximately $53,000. Acadian Asset Management LLC raised its holdings in shares of Porch Group by 28.1% in the third quarter. Acadian Asset Management LLC now owns 68,870 shares of the company’s stock worth $54,000 after buying an additional 15,101 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Porch Group by 128.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 103,590 shares of the company’s stock worth $83,000 after buying an additional 58,249 shares during the last quarter. Hedge funds and other institutional investors own 48.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Cantor Fitzgerald raised their price target on shares of Porch Group from $3.00 to $5.00 and gave the stock an “overweight” rating in a report on Wednesday, April 3rd. Stephens reaffirmed an “overweight” rating and issued a $6.00 price target on shares of Porch Group in a report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Porch Group from $3.50 to $3.75 and gave the stock a “market perform” rating in a report on Friday, March 22nd.

Insider Buying and Selling

In other Porch Group news, CFO Shawn Tabak sold 15,000 shares of Porch Group stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $2.02, for a total transaction of $30,300.00. Following the transaction, the chief financial officer now directly owns 295,142 shares of the company’s stock, valued at $596,186.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 23.46% of the stock is currently owned by company insiders.

Porch Group Stock Performance

PRCH stock opened at $1.51 on Friday. The firm’s fifty day moving average is $2.44 and its 200 day moving average is $2.88. Porch Group, Inc. has a one year low of $0.50 and a one year high of $4.78. The firm has a market cap of $149.78 million, a PE ratio of -1.32 and a beta of 2.11.

Porch Group (NASDAQ:PRCH) last announced its earnings results on Wednesday, May 8th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.12. Porch Group had a negative net margin of 23.68% and a negative return on equity of 1,182.09%. The business had revenue of $115.44 million for the quarter, compared to analyst estimates of $102.60 million. Research analysts predict that Porch Group, Inc. will post -0.65 earnings per share for the current fiscal year.

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.