Angi (NASDAQ:ANGI) Trading Up 6.1% – Here’s Why

Angi Inc. (NASDAQ:ANGI)’s stock price shot up 6.1% during mid-day trading on Thursday . The company traded as high as $1.76 and last traded at $1.74. 647,053 shares were traded during mid-day trading, a decline of 17% from the average session volume of 781,845 shares. The stock had previously closed at $1.64.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ANGI. Citigroup lowered shares of Angi from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $3.25 to $2.00 in a report on Wednesday, November 13th. Benchmark reduced their price target on shares of Angi from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. JMP Securities restated a “market outperform” rating and set a $3.00 target price on shares of Angi in a research report on Monday, December 16th. KeyCorp reduced their price objective on Angi from $3.00 to $2.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of Angi in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Angi presently has an average rating of “Hold” and a consensus target price of $3.11.

Angi Price Performance

The stock has a market cap of $830.44 million, a price-to-earnings ratio of 23.86 and a beta of 1.86. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.05 and a current ratio of 2.05. The business’s fifty day simple moving average is $2.14 and its 200 day simple moving average is $2.26.

Angi (NASDAQ:ANGI) last announced its quarterly earnings data on Monday, November 11th. The technology company reported $0.07 earnings per share (EPS) for the quarter. Angi had a return on equity of 3.79% and a net margin of 2.61%. The firm had revenue of $296.72 million for the quarter, compared to analysts’ expectations of $295.90 million. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. Research analysts predict that Angi Inc. will post 0.08 EPS for the current fiscal year.

Institutional Trading of Angi

Several large investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. raised its holdings in Angi by 1,372.4% during the third quarter. Assenagon Asset Management S.A. now owns 1,401,716 shares of the technology company’s stock worth $3,616,000 after purchasing an additional 1,306,515 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Angi by 36.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,855,694 shares of the technology company’s stock valued at $3,562,000 after buying an additional 494,739 shares during the period. Inspire Investing LLC lifted its position in shares of Angi by 152.5% in the third quarter. Inspire Investing LLC now owns 462,100 shares of the technology company’s stock worth $1,192,000 after purchasing an additional 279,083 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Angi during the 3rd quarter valued at $645,000. Finally, AQR Capital Management LLC boosted its position in Angi by 24.1% during the second quarter. AQR Capital Management LLC now owns 829,800 shares of the technology company’s stock valued at $1,593,000 after purchasing an additional 161,189 shares during the last quarter. 12.84% of the stock is currently owned by institutional investors and hedge funds.

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.