Angi (NASDAQ:ANGI) Trading Down 7.9%

Angi Inc. (NASDAQ:ANGI) dropped 7.9% during mid-day trading on Wednesday . The stock traded as low as $2.23 and last traded at $2.23. Approximately 339,295 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 790,727 shares. The stock had previously closed at $2.42.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ANGI. Citigroup dropped their target price on Angi from $4.00 to $3.25 and set a “buy” rating on the stock in a research report on Thursday, May 9th. KeyCorp decreased their price objective on shares of Angi from $4.00 to $3.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Finally, JMP Securities began coverage on Angi in a report on Tuesday, July 9th. They issued an “outperform” rating and a $3.25 price objective for the company. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Angi presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.03.

Angi Stock Performance

The firm’s 50-day moving average is $2.04 and its two-hundred day moving average is $2.32. The stock has a market cap of $1.12 billion, a P/E ratio of -44.60 and a beta of 2.01. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.48.

Insiders Place Their Bets

In related news, CTO Kulesh Shanmugasundaram sold 11,748 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $2.13, for a total value of $25,023.24. Following the transaction, the chief technology officer now directly owns 160,506 shares in the company, valued at approximately $341,877.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 35,244 shares of company stock valued at $70,958 over the last three months. 2.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ANGI. Victory Capital Management Inc. acquired a new position in Angi during the 4th quarter valued at $26,000. Tower Research Capital LLC TRC raised its position in shares of Angi by 140.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 17,880 shares of the technology company’s stock valued at $45,000 after buying an additional 10,447 shares during the last quarter. Boulder Hill Capital Management LP bought a new stake in shares of Angi in the fourth quarter valued at about $57,000. BNP Paribas Financial Markets grew its position in Angi by 44.6% during the first quarter. BNP Paribas Financial Markets now owns 24,807 shares of the technology company’s stock worth $65,000 after buying an additional 7,649 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in Angi during the fourth quarter valued at about $101,000. 12.84% of the stock is currently owned by institutional investors and hedge funds.

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.