Picton Mahoney Asset Management Invests $778,000 in Angi Inc. (NASDAQ:ANGI)

Picton Mahoney Asset Management purchased a new position in Angi Inc. (NASDAQ:ANGI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 312,500 shares of the technology company’s stock, valued at approximately $778,000. Picton Mahoney Asset Management owned about 0.06% of Angi at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ANGI. FMR LLC increased its holdings in 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 in the last quarter. One Fin Capital Management LP increased its stake in shares of Angi by 30.0% in the third quarter. One Fin Capital Management LP now owns 1,300,000 shares of the technology company’s stock worth $2,574,000 after purchasing an additional 300,000 shares in the last quarter. M&T Bank Corp raised its position in shares of Angi by 54.3% during the 4th quarter. M&T Bank Corp now owns 449,442 shares of the technology company’s stock valued at $1,120,000 after purchasing an additional 158,154 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted 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 valued at $708,000 after buying an additional 6,587 shares in the last quarter. Finally, Wolverine Asset Management LLC boosted its holdings in Angi by 61.8% in the 3rd quarter. Wolverine Asset Management LLC now owns 268,860 shares of the technology company’s stock worth $532,000 after buying an additional 102,653 shares during the period. Hedge funds and other institutional investors own 12.84% of the company’s stock.

Insider Activity at Angi

In related news, CTO Kulesh Shanmugasundaram sold 11,748 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were 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 directly owns 160,060 shares in the company, valued at approximately $412,954.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 35,244 shares of company stock worth $85,643. 2.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Angi Stock Down 2.3 %

Shares of ANGI stock opened at $2.54 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.88 and a quick ratio of 1.88. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -31.75 and a beta of 1.97. The stock’s fifty day moving average price is $2.42 and its 200 day moving average price is $2.34. Angi Inc. has a 1-year low of $1.54 and a 1-year high of $4.18.

Angi (NASDAQ:ANGI) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03. Angi had a negative return on equity of 3.15% and a negative net margin of 2.84%. The business had revenue of $300.43 million for the quarter, compared to the consensus estimate of $306.73 million. On average, research analysts expect that Angi Inc. will post -0.01 earnings per share for the current fiscal year.

Angi 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.