Porch Group, Inc. $PRCH Position Lessened by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust trimmed its position in shares of Porch Group, Inc. (NASDAQ:PRCH) by 24.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 54,906 shares of the company’s stock after selling 17,629 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in Porch Group were worth $647,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PRCH. Hennessy Advisors Inc. purchased a new stake in shares of Porch Group during the 2nd quarter worth about $19,607,000. Monashee Investment Management LLC bought a new position in Porch Group during the first quarter valued at approximately $11,300,000. Driehaus Capital Management LLC raised its position in Porch Group by 84.6% during the first quarter. Driehaus Capital Management LLC now owns 3,208,312 shares of the company’s stock valued at $23,389,000 after acquiring an additional 1,470,580 shares in the last quarter. Invesco Ltd. raised its position in Porch Group by 72.2% during the first quarter. Invesco Ltd. now owns 2,896,237 shares of the company’s stock valued at $21,114,000 after acquiring an additional 1,213,951 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in Porch Group by 92.5% during the first quarter. Acadian Asset Management LLC now owns 1,619,752 shares of the company’s stock valued at $11,800,000 after acquiring an additional 778,240 shares in the last quarter. 48.48% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Porch Group news, Director Amanda L. Reierson sold 50,000 shares of Porch Group stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $17.67, for a total value of $883,500.00. Following the transaction, the director directly owned 151,375 shares of the company’s stock, valued at $2,674,796.25. The trade was a 24.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Regi Vengalil sold 40,000 shares of the business’s stock in a transaction 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 transaction, the director directly owned 165,903 shares in the company, valued at $3,019,434.60. This trade represents a 19.43% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 170,000 shares of company stock valued at $3,019,700. Corporate insiders own 23.32% of the company’s stock.

Porch Group Stock Performance

Porch Group stock opened at $15.45 on Friday. The business’s 50-day simple moving average is $16.79 and its 200-day simple moving average is $12.94. The firm has a market capitalization of $1.89 billion, a PE ratio of 30.29 and a beta of 2.87. Porch Group, Inc. has a 52 week low of $1.98 and a 52 week high of $19.44.

Porch Group (NASDAQ:PRCH) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.16. The business had revenue of $119.30 million for the quarter, compared to analyst estimates of $98.06 million. Porch Group had a negative return on equity of 41.71% and a net margin of 12.82%. Porch Group has set its FY 2025 guidance at EPS. Research analysts forecast that Porch Group, Inc. will post -0.63 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PRCH. Zacks Research downgraded shares of Porch Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. Cantor Fitzgerald restated an “overweight” rating and set a $20.00 target price on shares of Porch Group in a report on Tuesday, September 2nd. Benchmark restated a “buy” rating on shares of Porch Group in a report on Thursday. Oppenheimer restated an “outperform” rating and set a $25.00 target price (up from $17.00) on shares of Porch Group in a report on Monday, September 22nd. Finally, Keefe, Bruyette & Woods raised their price objective on Porch Group from $7.00 to $16.00 and gave the company a “market perform” rating in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Porch Group currently has a consensus rating of “Moderate Buy” and an average price target of $16.56.

About Porch Group

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.