Porch Group, Inc. $PRCH Holdings Increased by Algert Global LLC

Algert Global LLC lifted its stake in Porch Group, Inc. (NASDAQ:PRCH) by 2,254.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 759,664 shares of the company’s stock after acquiring an additional 727,394 shares during the period. Algert Global LLC owned 0.61% of Porch Group worth $12,747,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its position in Porch Group by 3.8% in the second quarter. The Manufacturers Life Insurance Company now owns 29,657 shares of the company’s stock worth $350,000 after acquiring an additional 1,090 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Porch Group by 1.5% during the 3rd quarter. Alliancebernstein L.P. now owns 80,410 shares of the company’s stock valued at $1,349,000 after purchasing an additional 1,200 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of Porch Group by 9.4% in the 2nd quarter. Prudential Financial Inc. now owns 14,220 shares of the company’s stock worth $168,000 after purchasing an additional 1,220 shares during the last quarter. Aster Capital Management DIFC Ltd grew its stake in shares of Porch Group by 956.3% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock worth $26,000 after purchasing an additional 1,377 shares during the last quarter. Finally, Viewpoint Capital Management LLC raised its holdings in shares of Porch Group by 0.7% in the 3rd quarter. Viewpoint Capital Management LLC now owns 209,900 shares of the company’s stock worth $3,522,000 after purchasing an additional 1,500 shares in the last quarter. 48.48% of the stock is currently owned by institutional investors.

Porch Group Trading Up 5.7%

Porch Group stock opened at $7.58 on Monday. Porch Group, Inc. has a 52 week low of $4.64 and a 52 week high of $19.44. The company has a debt-to-equity ratio of 17.20, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market capitalization of $943.41 million, a price-to-earnings ratio of -151.60 and a beta of 3.05. The company has a 50 day moving average price of $8.15 and a 200 day moving average price of $11.57.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings results on Wednesday, February 11th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. The business had revenue of $112.25 million for the quarter, compared to the consensus estimate of $109.13 million. Porch Group had a negative return on equity of 51.86% and a negative net margin of 0.72%. Research analysts forecast that Porch Group, Inc. will post -0.63 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Zacks Research upgraded shares of Porch Group from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Porch Group in a report on Monday, December 29th. Keefe, Bruyette & Woods upgraded Porch Group from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $13.00 to $10.50 in a research report on Wednesday, February 11th. Finally, Benchmark reissued a “buy” rating on shares of Porch Group in a research note on Friday, January 16th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $16.31.

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.