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

Shares of Angi Inc. (NASDAQ:ANGI) rose 8.9% during 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.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Angi in a research note on Wednesday, December 18th. UBS Group raised Angi to a “hold” rating in a research report on Monday, October 28th. Benchmark reduced 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, November 13th. JMP Securities reduced their price target on Angi from $3.00 to $2.75 and set a “market outperform” rating for the company in a research report on Thursday. Finally, Citigroup increased their price objective on Angi from $1.70 to $2.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $3.07.

Angi Stock Performance

The firm has a market capitalization of $887.63 million, a P/E ratio of 25.50 and a beta of 1.86. The stock has a fifty day simple moving average of $1.75 and a two-hundred day simple moving average of $2.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.05 and a quick ratio of 2.05.

Angi (NASDAQ:ANGI) last issued its earnings results on Monday, November 11th. The technology company reported $0.07 earnings per share for the quarter. The business had revenue of $296.72 million during the quarter, compared to the consensus estimate of $295.90 million. Angi had a return on equity of 3.79% and a net margin of 2.61%. During the same period in the previous year, the company posted ($0.01) earnings per share. On average, research analysts predict that Angi Inc. will post 0.08 EPS for the current year.

Institutional Investors Weigh In On Angi

Several hedge funds and other institutional investors have recently modified their holdings of ANGI. Raymond James Financial Inc. purchased a new position in Angi in the fourth quarter valued at about $27,000. Barclays PLC raised its position in Angi by 1,255.5% during the 3rd quarter. Barclays PLC now owns 16,401 shares of the technology company’s stock valued at $42,000 after purchasing an additional 15,191 shares during the last quarter. Centiva Capital LP purchased a new stake in Angi in the 3rd quarter worth approximately $46,000. Headlands Technologies LLC grew its position in shares of Angi by 9,308.0% in the 4th quarter. Headlands Technologies LLC now owns 18,722 shares of the technology company’s stock worth $31,000 after buying an additional 18,523 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of Angi by 38.8% during the fourth quarter. Jones Financial Companies Lllp now owns 28,439 shares of the technology company’s stock valued at $47,000 after buying an additional 7,944 shares during the period. Institutional investors 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.