Angi (NASDAQ:ANGI) Trading Down 3.4% Following Analyst Downgrade

Angi Inc. (NASDAQ:ANGI)’s share price was down 3.4% during trading 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. Approximately 269,434 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 725,297 shares. The stock had previously closed at $1.93.

Other equities research analysts have also recently issued reports about the company. The Goldman Sachs Group cut Angi from a “buy” rating to a “neutral” rating and decreased their price target for the company from $3.25 to $2.50 in a report on Wednesday. Citigroup lowered Angi from a “buy” rating to a “neutral” rating and cut their price objective for the company from $3.25 to $2.00 in a research report on Wednesday. Benchmark dropped their price target on Angi from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, UBS Group upgraded Angi to a “hold” rating in a research report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Angi presently has a consensus rating of “Moderate Buy” and a consensus target price of $3.25.

Institutional Investors Weigh In On Angi

A number of large investors have recently made changes to their positions in ANGI. Inspire Investing LLC boosted its holdings in Angi by 152.5% in the third quarter. Inspire Investing LLC now owns 462,100 shares of the technology company’s stock valued at $1,192,000 after purchasing an additional 279,083 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Angi in the second quarter worth about $183,000. Vanguard Group Inc. raised its position in shares of Angi by 1.4% in the first quarter. Vanguard Group Inc. now owns 6,722,247 shares of the technology company’s stock worth $17,612,000 after acquiring an additional 95,514 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Angi by 36.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,855,694 shares of the technology company’s stock worth $3,562,000 after acquiring an additional 494,739 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Angi in the first quarter worth about $162,000. 12.84% of the stock is owned by hedge funds and other institutional investors.

Angi Stock Performance

The business’s 50-day simple moving average is $2.52 and its two-hundred day simple moving average is $2.33. The firm has a market cap of $920.05 million, a price-to-earnings ratio of 26.36 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.

Angi (NASDAQ:ANGI) last released its quarterly earnings results on Monday, November 11th. The technology company reported $0.07 earnings per share for the quarter. Angi had a net margin of 2.61% and a return on equity of 3.79%. The firm had revenue of $296.72 million during the quarter, compared to the consensus estimate of $295.90 million. During the same quarter in the prior year, the firm earned ($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.