Angi (NASDAQ:ANGI) Stock Price Down 3.4% on Analyst Downgrade

Angi Inc. (NASDAQ:ANGI) shares dropped 3.4% during mid-day 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.

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

Hedge Funds Weigh In On Angi

A number of institutional investors have recently modified their holdings of the stock. Verition Fund Management LLC acquired a new position in shares of Angi during the third quarter valued at $116,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Angi by 46.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 262,529 shares of the technology company’s stock worth $677,000 after buying an additional 83,704 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Angi in the third quarter valued at approximately $645,000. Assenagon Asset Management S.A. raised its position in shares of Angi by 1,372.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,401,716 shares of the technology company’s stock valued at $3,616,000 after acquiring an additional 1,306,515 shares during the last quarter. Finally, Inspire Investing LLC lifted its stake in shares of Angi by 152.5% in the 3rd 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 period. 12.84% of the stock is owned by institutional investors.

Angi Price Performance

The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.98 and a current ratio of 2.05. The company has a 50-day moving average price of $2.50 and a 200-day moving average price of $2.33. The firm has a market capitalization of $872.67 million, a P/E ratio of 25.00 and a beta of 1.95.

Angi (NASDAQ:ANGI) last released its earnings results on Monday, November 11th. The technology company reported $0.07 earnings per share for the quarter. The firm had revenue of $296.72 million for the quarter, compared to analyst estimates of $295.90 million. Angi had a return on equity of 3.79% and a net margin of 2.61%. During the same quarter in the prior year, the firm posted ($0.01) earnings per share.

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.