Angi (NASDAQ:ANGI) Shares Gap Down to $3.11

Angi Inc. (NASDAQ:ANGIGet Rating)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $3.11, but opened at $3.04. Angi shares last traded at $3.07, with a volume of 7,219 shares trading hands.

Analyst Ratings Changes

A number of brokerages have recently commented on ANGI. Benchmark reduced their target price on shares of Angi from $15.00 to $13.00 in a report on Thursday, August 11th. The Goldman Sachs Group dropped their price target on shares of Angi from $9.00 to $8.50 and set a “buy” rating on the stock in a research note on Thursday, June 9th. Oppenheimer reiterated an “outperform” rating and set a $10.00 price target on shares of Angi in a research note on Friday, August 12th. Credit Suisse Group dropped their price target on shares of Angi from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Thursday, August 11th. Finally, Wells Fargo & Company dropped their price target on shares of Angi from $11.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, August 11th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.39.

Angi Price Performance

The company has a debt-to-equity ratio of 0.45, a current ratio of 1.67 and a quick ratio of 1.67. The firm’s 50-day simple moving average is $4.56 and its two-hundred day simple moving average is $4.89. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -14.85 and a beta of 1.81.

Angi (NASDAQ:ANGIGet Rating) last issued its earnings results on Tuesday, August 9th. The technology company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. Angi had a negative net margin of 5.50% and a negative return on equity of 8.89%. The company had revenue of $515.78 million for the quarter, compared to analyst estimates of $495.41 million. During the same period in the prior year, the business posted ($0.06) earnings per share. The firm’s revenue for the quarter was up 22.5% compared to the same quarter last year. Sell-side analysts predict that Angi Inc. will post -0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Angi news, Director Bowman Angela R. Hicks sold 5,000 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $5.19, for a total value of $25,950.00. Following the sale, the director now owns 194,941 shares of the company’s stock, valued at $1,011,743.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have sold 15,000 shares of company stock worth $75,950. 2.40% of the stock is owned by company insiders.

Institutional Trading of Angi

Several institutional investors and hedge funds have recently modified their holdings of the business. Brown Advisory Inc. lifted its holdings in shares of Angi by 32.8% in the first quarter. Brown Advisory Inc. now owns 11,984,763 shares of the technology company’s stock valued at $68,235,000 after purchasing an additional 2,960,963 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Angi by 0.6% during the first quarter. Vanguard Group Inc. now owns 6,174,255 shares of the technology company’s stock valued at $35,009,000 after buying an additional 38,809 shares during the period. FMR LLC lifted its stake in shares of Angi by 2.7% during the second quarter. FMR LLC now owns 2,603,487 shares of the technology company’s stock valued at $11,924,000 after buying an additional 68,457 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Angi by 27.0% during the second quarter. Renaissance Technologies LLC now owns 2,394,796 shares of the technology company’s stock valued at $10,968,000 after buying an additional 509,400 shares during the period. Finally, Stephens Investment Management Group LLC lifted its stake in shares of Angi by 5.7% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,955,198 shares of the technology company’s stock valued at $18,007,000 after buying an additional 106,252 shares during the period. Hedge funds and other institutional investors own 12.98% of the company’s stock.

Angi Company Profile

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Angi Inc connects home service professionals with consumers in the United States and internationally. Its Angi Ads business, which connects consumers with service professionals for local services through the Angi nationwide online directory of service professionals in various service categories; provides consumers with valuable tools, services, and content, including verified reviews, to help them research, shop, and hire for local services; and sells term-based website, and mobile and digital magazine advertising to service professionals, as well as provides quoting, invoicing, and payment services.

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