Angi (NASDAQ:ANGI) Shares Gap Down to $2.60

Angi Inc. (NASDAQ:ANGI) gapped down before the market opened on Wednesday . The stock had previously closed at $2.60, but opened at $2.31. Angi shares last traded at $2.57, with a volume of 305,026 shares.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. StockNews.com raised Angi from a “hold” rating to a “buy” rating in a research report on Thursday, February 15th. Royal Bank of Canada upped their target price on shares of Angi from $2.25 to $3.25 and gave the company a “sector perform” rating in a report on Thursday, February 15th. The Goldman Sachs Group upped their price objective on shares of Angi from $3.00 to $3.50 and gave the company a “buy” rating in a research note on Friday, February 16th. UBS Group lifted their target price on Angi from $2.60 to $3.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Finally, KeyCorp decreased their target price on Angi from $4.00 to $3.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $4.11.

Angi Price Performance

The company has a market cap of $1.27 billion, a price-to-earnings ratio of -31.75 and a beta of 1.97. The company’s 50 day moving average price is $2.43 and its 200 day moving average price is $2.34. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.47.

Angi (NASDAQ:ANGI) last announced its quarterly earnings data on Tuesday, February 13th. The technology company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. Angi had a negative net margin of 2.84% and a negative return on equity of 3.15%. The firm had revenue of $300.43 million during the quarter, compared to the consensus estimate of $306.73 million. Equities research analysts forecast that Angi Inc. will post -0.01 earnings per share for the current year.

Insider Activity

In other Angi news, CTO Kulesh Shanmugasundaram sold 11,748 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $2.58, for a total value of $30,309.84. Following the completion of the transaction, the chief technology officer now owns 166,034 shares in the company, valued at $428,367.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 35,244 shares of company stock valued at $85,643 in the last three months. 2.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Angi

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its holdings in shares of Angi by 44.6% in the 3rd quarter. FMR LLC now owns 6,430,138 shares of the technology company’s stock worth $12,732,000 after acquiring an additional 1,983,031 shares during the period. Wolverine Asset Management LLC increased its position in shares of Angi by 61.8% in the third quarter. Wolverine Asset Management LLC now owns 268,860 shares of the technology company’s stock valued at $532,000 after buying an additional 102,653 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Angi by 2.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 284,227 shares of the technology company’s stock worth $708,000 after buying an additional 6,587 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Angi by 76.1% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 136,546 shares of the technology company’s stock worth $270,000 after buying an additional 59,029 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Angi by 140.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 17,880 shares of the technology company’s stock worth $45,000 after buying an additional 10,447 shares in the last quarter. 12.84% of the stock is currently owned by institutional investors and hedge funds.

Angi Company Profile

Angi Inc connects home service professionals with consumers in the United States and internationally. The company operates through three segments: Ads and Leads, Services, and International. It provides consumers with tools and resources to help them find local, pre-screened and customer-rated service professionals, matches consumers with independently established home services professionals.