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.

Analyst Ratings Changes

Several research firms recently issued reports on ANGI. UBS Group raised their price objective on shares of Angi from $2.60 to $3.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Royal Bank of Canada upped their price objective on Angi from $2.25 to $3.25 and gave the company a “sector perform” rating in a report on Thursday, February 15th. KeyCorp lowered their price objective on Angi from $4.00 to $3.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. StockNews.com raised Angi from a “hold” rating to a “buy” rating in a research note on Thursday, February 15th. Finally, The Goldman Sachs Group raised their price objective on Angi from $3.00 to $3.50 and gave the stock a “buy” rating in a research report on Friday, February 16th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $4.13.

Angi Stock Up 0.4 %

The business’s fifty day moving average is $2.42 and its two-hundred day moving average is $2.34. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -31.88 and a beta of 1.97. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.47.

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

Insider Buying and Selling at Angi

In related news, CTO Kulesh Shanmugasundaram sold 11,748 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $2.58, for a total transaction of $30,309.84. Following the sale, the chief technology officer now directly owns 166,034 shares in the company, valued at $428,367.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 35,244 shares of company stock valued at $85,643 in the last quarter. Corporate insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

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

About Angi

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.