Angi (NASDAQ:ANGI) Stock Price Up 6.1% - Here's What Happened

Angi Inc. (NASDAQ:ANGI - Get Free Report)'s stock price traded up 6.1% during mid-day trading on Thursday . The company traded as high as $1.76 and last traded at $1.74. 647,053 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 781,845 shares. The stock had previously closed at $1.64.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ANGI shares. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Angi in a research note on Wednesday. Citigroup cut Angi from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $3.25 to $2.00 in a research report on Wednesday, November 13th. Benchmark lowered their target price on Angi from $7.00 to $6.00 and set a "buy" rating on the stock in a report on Wednesday, November 13th. UBS Group upgraded Angi to a "hold" rating in a report on Monday, October 28th. Finally, JMP Securities restated a "market outperform" rating and issued a $3.00 price objective on shares of Angi in a research note on Monday. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Angi currently has an average rating of "Hold" and a consensus target price of $3.11.

Angi Price Performance

The company's 50 day moving average price is $2.14 and its 200 day moving average price is $2.26. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.05 and a current ratio of 2.05. The company has a market cap of $845.36 million, a price-to-earnings ratio of 24.29 and a beta of 1.86.

Angi (NASDAQ:ANGI - Get Free Report) last posted its earnings results 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 analysts' expectations of $295.90 million. During the same quarter in the previous year, the company posted ($0.01) earnings per share. On average, equities research analysts predict that Angi Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ANGI. ArrowMark Colorado Holdings LLC grew its position in shares of Angi by 1.8% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 4,729,386 shares of the technology company's stock worth $12,202,000 after buying an additional 84,328 shares during the period. Dimensional Fund Advisors LP grew its holdings in Angi by 36.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,855,694 shares of the technology company's stock valued at $3,562,000 after purchasing an additional 494,739 shares during the period. Assenagon Asset Management S.A. increased its stake 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 in the last quarter. AQR Capital Management LLC boosted its position 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 worth $1,593,000 after purchasing an additional 161,189 shares in the last quarter. Finally, Inspire Investing LLC increased its position 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 buying an additional 279,083 shares in the last quarter. 12.84% of the stock is currently owned by 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.