Manatuck Hill Partners LLC Makes New $1.48 Million Investment in Porch Group, Inc. (NASDAQ:PRCH)

Manatuck Hill Partners LLC bought a new position in shares of Porch Group, Inc. (NASDAQ:PRCH - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 300,000 shares of the company's stock, valued at approximately $1,476,000. Manatuck Hill Partners LLC owned 0.25% of Porch Group as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PRCH. Barclays PLC lifted its holdings in Porch Group by 415.5% during the 3rd quarter. Barclays PLC now owns 134,919 shares of the company's stock worth $207,000 after buying an additional 108,748 shares during the last quarter. Geode Capital Management LLC raised its holdings in Porch Group by 8.9% during the third quarter. Geode Capital Management LLC now owns 1,987,881 shares of the company's stock worth $3,052,000 after purchasing an additional 163,133 shares in the last quarter. Franklin Resources Inc. acquired a new stake in Porch Group during the 3rd quarter worth $238,000. GAMMA Investing LLC acquired a new stake in shares of Porch Group during the fourth quarter worth about $50,000. Finally, Moody National Bank Trust Division lifted its holdings in shares of Porch Group by 11.5% in the 4th quarter. Moody National Bank Trust Division now owns 441,800 shares of the company's stock valued at $2,174,000 after purchasing an additional 45,639 shares during the last quarter. Institutional investors and hedge funds own 48.48% of the company's stock.

Analyst Upgrades and Downgrades

PRCH has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lifted their price objective on shares of Porch Group from $6.00 to $7.00 and gave the company a "market perform" rating in a research note on Wednesday. Loop Capital upgraded shares of Porch Group from a "hold" rating to a "buy" rating and set a $6.00 target price for the company in a research report on Wednesday, February 26th. Oppenheimer upped their price objective on shares of Porch Group from $8.00 to $9.00 and gave the company an "outperform" rating in a research note on Wednesday. Stephens raised their price objective on Porch Group from $8.00 to $10.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Finally, Benchmark raised their target price on shares of Porch Group from $10.00 to $12.00 and gave the company a "buy" rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $7.89.

Insider Buying and Selling at Porch Group

In other news, COO Matthew Neagle sold 60,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $6.24, for a total transaction of $374,400.00. Following the sale, the chief operating officer now directly owns 1,384,057 shares of the company's stock, valued at approximately $8,636,515.68. This represents a 4.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Shawn Tabak sold 108,226 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $6.05, for a total transaction of $654,767.30. Following the completion of the transaction, the chief financial officer now directly owns 179,613 shares of the company's stock, valued at approximately $1,086,658.65. The trade was a 37.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 205,554 shares of company stock worth $1,273,590. Insiders own 23.46% of the company's stock.

Porch Group Stock Up 60.1 %

Shares of NASDAQ:PRCH traded up $3.81 during trading on Wednesday, reaching $10.15. The stock had a trading volume of 13,346,415 shares, compared to its average volume of 1,937,822. Porch Group, Inc. has a 52 week low of $1.05 and a 52 week high of $10.18. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -14.38 and a beta of 2.44. The stock has a fifty day simple moving average of $6.13 and a two-hundred day simple moving average of $4.86.

Porch Group (NASDAQ:PRCH - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.09. The business had revenue of $104.75 million during the quarter, compared to analyst estimates of $79.44 million. On average, analysts forecast that Porch Group, Inc. will post -0.63 EPS for the current 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.