Angi (NASDAQ:ANGI) Trading Up 8.9% – Here’s What Happened

Angi Inc. (NASDAQ:ANGI) rose 8.9% during mid-day trading on Thursday . The company traded as high as $1.75 and last traded at $1.78. Approximately 471,787 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 1,030,906 shares. The stock had previously closed at $1.63.

Wall Street Analyst Weigh In

ANGI has been the subject of a number of research analyst reports. The Goldman Sachs Group cut shares of Angi from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $3.25 to $2.50 in a report on Wednesday, November 13th. Citigroup raised their price target on shares of Angi from $1.70 to $2.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Angi in a report on Wednesday, December 18th. JMP Securities decreased their price target on shares of Angi from $3.00 to $2.75 and set a “market outperform” rating for the company in a report on Thursday. Finally, UBS Group raised shares of Angi to a “hold” rating in a report on Monday, October 28th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $3.07.

Angi Stock Performance

The company has a market cap of $914.98 million, a price-to-earnings ratio of 26.29 and a beta of 1.86. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.46. The company’s 50-day moving average is $1.75 and its 200 day moving average is $2.17.

Institutional Trading of Angi

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its position in shares of Angi by 1,372.4% in the third quarter. Assenagon Asset Management S.A. now owns 1,401,716 shares of the technology company’s stock valued at $3,616,000 after purchasing an additional 1,306,515 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Angi by 113.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,722,460 shares of the technology company’s stock worth $2,859,000 after purchasing an additional 914,037 shares during the period. Westerly Capital Management LLC increased its position in shares of Angi by 20.9% during the fourth quarter. Westerly Capital Management LLC now owns 2,840,000 shares of the technology company’s stock valued at $4,714,000 after acquiring an additional 490,000 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Angi during the fourth quarter valued at about $469,000. Finally, Marshall Wace LLP acquired a new position in shares of Angi in the fourth quarter valued at approximately $423,000. 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.