Angi (NASDAQ:ANGI) Shares Gap Up to $1.98

Angi Inc. (NASDAQ:ANGI)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $1.98, but opened at $2.22. Angi shares last traded at $2.48, with a volume of 357,268 shares trading hands.

Analysts Set New Price Targets

ANGI has been the subject of several recent analyst reports. JMP Securities initiated coverage on shares of Angi in a report on Tuesday, July 9th. They issued an “outperform” rating and a $3.25 price objective for the company. Citigroup cut their target price on shares of Angi from $4.00 to $3.25 and set a “buy” rating for the company in a research note on Thursday, May 9th. Finally, KeyCorp reduced their price target on shares of Angi from $4.00 to $3.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $4.03.

Angi Trading Up 24.6 %

The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.48. The company has a market cap of $1.23 billion, a PE ratio of -50.58 and a beta of 2.00. The business’s 50-day simple moving average is $2.04 and its 200-day simple moving average is $2.31.

Insiders Place Their Bets

In other Angi news, CTO Kulesh Shanmugasundaram sold 11,748 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $2.32, for a total value of $27,255.36. Following the completion of the sale, the chief technology officer now owns 125,262 shares in the company, valued at approximately $290,607.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 35,244 shares of company stock worth $73,190 in the last quarter. 2.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. acquired a new position in shares of Angi during the 2nd quarter worth $183,000. Quadrature Capital Ltd increased its stake in shares of Angi by 21.4% during the 1st quarter. Quadrature Capital Ltd now owns 96,857 shares of the technology company’s stock worth $256,000 after purchasing an additional 17,102 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Angi by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 6,722,247 shares of the technology company’s stock worth $17,612,000 after purchasing an additional 95,514 shares during the last quarter. Picton Mahoney Asset Management increased its stake in shares of Angi by 3.5% during the 1st quarter. Picton Mahoney Asset Management now owns 323,293 shares of the technology company’s stock worth $847,000 after purchasing an additional 10,793 shares during the last quarter. Finally, Inspire Investing LLC acquired a new position in shares of Angi during the 1st quarter worth $1,234,000. Institutional investors and hedge funds own 12.84% of the company’s stock.

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.