Connor Clark & Lunn Investment Management Ltd. Invests $812,000 in Porch Group, Inc. $PRCH

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Porch Group, Inc. (NASDAQ:PRCH - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 111,424 shares of the company's stock, valued at approximately $812,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.09% of Porch Group as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PRCH. FNY Investment Advisers LLC bought a new position in shares of Porch Group in the 1st quarter worth about $29,000. CWM LLC raised its position in shares of Porch Group by 112.2% in the 1st quarter. CWM LLC now owns 8,732 shares of the company's stock worth $64,000 after acquiring an additional 4,617 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Porch Group in the 4th quarter worth about $50,000. Ameriprise Financial Inc. bought a new position in shares of Porch Group in the 4th quarter worth about $51,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Porch Group by 91.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,017 shares of the company's stock worth $54,000 after acquiring an additional 5,273 shares in the last quarter. 48.48% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Shawn Tabak sold 30,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $11.23, for a total value of $336,900.00. Following the transaction, the chief financial officer owned 172,671 shares in the company, valued at $1,939,095.33. The trade was a 14.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Matthew Neagle sold 60,000 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $9.94, for a total value of $596,400.00. Following the completion of the transaction, the chief operating officer owned 1,078,080 shares in the company, valued at $10,716,115.20. The trade was a 5.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 180,000 shares of company stock worth $2,032,700 over the last 90 days. 23.32% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PRCH. Keefe, Bruyette & Woods lifted their price objective on Porch Group from $7.00 to $16.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 13th. Cantor Fitzgerald upgraded Porch Group to a "strong-buy" rating in a research note on Friday, August 15th. Loop Capital restated a "buy" rating and issued a $13.00 target price (up from $6.00) on shares of Porch Group in a research note on Wednesday, May 14th. Oppenheimer raised their target price on Porch Group from $14.00 to $17.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Finally, Benchmark restated a "buy" rating and issued a $17.00 target price (up from $12.00) on shares of Porch Group in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $13.71.

Porch Group Stock Up 2.6%

PRCH stock traded up $0.4050 during mid-day trading on Thursday, reaching $15.7250. 890,469 shares of the company traded hands, compared to its average volume of 2,431,462. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 30.80 and a beta of 2.72. Porch Group, Inc. has a fifty-two week low of $1.15 and a fifty-two week high of $17.38. The firm's 50 day moving average price is $12.93 and its 200 day moving average price is $9.04.

Porch Group (NASDAQ:PRCH - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.16. The business had revenue of $119.30 million during the quarter, compared to the consensus estimate 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. On average, analysts anticipate that Porch Group, Inc. will post -0.63 EPS for the current fiscal year.

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.