Angi (NASDAQ:ANGI) Shares Down 3.4% After Analyst Downgrade

Angi Inc. (NASDAQ:ANGI) fell 3.4% on Wednesday after JMP Securities lowered their price target on the stock from $3.25 to $3.00. JMP Securities currently has a market outperform rating on the stock. Angi traded as low as $1.83 and last traded at $1.87. 269,434 shares were traded during mid-day trading, a decline of 63% from the average session volume of 725,297 shares. The stock had previously closed at $1.93.

A number of other equities analysts also recently weighed in on the stock. Citigroup downgraded shares of Angi from a “buy” rating to a “neutral” rating and cut their price target for the stock from $3.25 to $2.00 in a research note on Wednesday. The Goldman Sachs Group downgraded Angi from a “buy” rating to a “neutral” rating and lowered their price target for the company from $3.25 to $2.50 in a research report on Wednesday. Benchmark cut their price target on shares of Angi from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, UBS Group raised shares of Angi to a “hold” rating in a research report on Monday, October 28th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $3.25.

Hedge Funds Weigh In On Angi

Several large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its position in shares of Angi by 44.6% in the first quarter. BNP Paribas Financial Markets now owns 24,807 shares of the technology company’s stock valued at $65,000 after acquiring an additional 7,649 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Angi in the 1st quarter valued at $162,000. Picton Mahoney Asset Management lifted its holdings in Angi by 3.5% during the 1st quarter. Picton Mahoney Asset Management now owns 323,293 shares of the technology company’s stock valued at $847,000 after purchasing an additional 10,793 shares during the last quarter. Vanguard Group Inc. boosted its position in Angi by 1.4% in the first quarter. Vanguard Group Inc. now owns 6,722,247 shares of the technology company’s stock valued at $17,612,000 after buying an additional 95,514 shares in the last quarter. Finally, Quadrature Capital Ltd grew its stake in Angi by 21.4% during the first quarter. Quadrature Capital Ltd now owns 96,857 shares of the technology company’s stock worth $256,000 after buying an additional 17,102 shares during the last quarter. Institutional investors and hedge funds own 12.84% of the company’s stock.

Angi Trading Down 6.0 %

The company has a market cap of $905.09 million, a price-to-earnings ratio of 25.82 and a beta of 1.95. The company has a quick ratio of 1.98, a current ratio of 2.05 and a debt-to-equity ratio of 0.46. The company’s fifty day moving average price is $2.53 and its two-hundred day moving average price is $2.33.

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

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.