Angi (NASDAQ:ANGI) Shares Gap Down – Here’s Why

Shares of Angi Inc. (NASDAQ:ANGI) gapped down prior to trading on Tuesday . The stock had previously closed at $2.62, but opened at $2.36. Angi shares last traded at $2.13, with a volume of 317,513 shares changing hands.

Analyst Ratings Changes

ANGI has been the subject of several analyst reports. UBS Group upgraded shares of Angi to a “hold” rating in a research note on Monday, October 28th. The Goldman Sachs Group lowered shares of Angi from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $3.25 to $2.50 in a research note on Wednesday. JMP Securities dropped their target price on Angi from $3.25 to $3.00 and set a “market outperform” rating on the stock in a research report on Wednesday. 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. Finally, Citigroup cut Angi from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $3.25 to $2.00 in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $3.25.

Angi Price Performance

The firm has a market capitalization of $920.05 million, a PE ratio of 26.36 and a beta of 1.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.05 and a quick ratio of 1.98. The business’s 50 day moving average is $2.52 and its two-hundred day moving average 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 (EPS) for the quarter. Angi had a net margin of 2.61% and a return on equity of 3.79%. The company had revenue of $296.72 million during the quarter, compared to the consensus estimate of $295.90 million. During the same period in the previous year, the firm posted ($0.01) EPS.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings 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 buying an additional 95,514 shares during the period. Dimensional Fund Advisors LP increased its stake in Angi by 36.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,855,694 shares of the technology company’s stock worth $3,562,000 after purchasing an additional 494,739 shares during the period. Assenagon Asset Management S.A. lifted its position in 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 last quarter. AQR Capital Management LLC boosted its stake in shares of Angi by 24.1% during the second quarter. AQR Capital Management LLC now owns 829,800 shares of the technology company’s stock valued at $1,593,000 after purchasing an additional 161,189 shares during the period. Finally, Inspire Investing LLC grew its holdings in shares of Angi by 152.5% in the third quarter. Inspire Investing LLC now owns 462,100 shares of the technology company’s stock worth $1,192,000 after purchasing an additional 279,083 shares during the last quarter. 12.84% of the stock is owned by hedge funds and other institutional investors.

Angi Company Profile

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.