Divisadero Street Capital Management LP Boosts Stock Position in Porch Group, Inc. $PRCH

Divisadero Street Capital Management LP lifted its stake in shares of Porch Group, Inc. (NASDAQ:PRCH) by 6.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,606,883 shares of the company’s stock after acquiring an additional 163,271 shares during the quarter. Porch Group makes up approximately 1.9% of Divisadero Street Capital Management LP’s holdings, making the stock its 13th biggest position. Divisadero Street Capital Management LP owned about 2.11% of Porch Group worth $43,743,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd lifted its holdings in Porch Group by 956.3% during the third quarter. Aster Capital Management DIFC Ltd now owns 1,521 shares of the company’s stock valued at $26,000 after purchasing an additional 1,377 shares in the last quarter. RiverPark Advisors LLC purchased a new position in shares of Porch Group during the 3rd quarter valued at $39,000. State of Alaska Department of Revenue purchased a new position in shares of Porch Group during the 3rd quarter valued at $80,000. State of Wyoming bought a new position in Porch Group in the 2nd quarter worth $111,000. Finally, GSA Capital Partners LLP bought a new position in Porch Group in the 3rd quarter worth $168,000. Institutional investors own 48.48% of the company’s stock.

Porch Group Stock Performance

Shares of NASDAQ PRCH opened at $7.58 on Monday. The company has a market cap of $943.41 million, a P/E ratio of -151.60 and a beta of 3.05. 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’s fifty day moving average is $8.15 and its two-hundred day moving average is $11.57.

Porch Group (NASDAQ:PRCH) last issued its quarterly earnings data 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. Porch Group had a negative return on equity of 51.86% and a negative net margin of 0.72%.The firm had revenue of $112.25 million during the quarter, compared to analyst estimates of $109.13 million. As a group, analysts anticipate that Porch Group, Inc. will post -0.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.