Angi (NASDAQ:ANGI) Sets New 52-Week Low Following Analyst Downgrade

Angi Inc. (NASDAQ:ANGI - Get Free Report) shares reached a new 52-week low during mid-day trading on Tuesday after UBS Group lowered their price target on the stock from $24.00 to $20.00. UBS Group currently has a neutral rating on the stock. Angi traded as low as $10.93 and last traded at $11.02, with a volume of 152518 shares trading hands. The stock had previously closed at $11.20.

Other equities analysts have also recently issued research reports about the stock. JMP Securities reduced their price target on shares of Angi from $30.00 to $27.50 and set a "market outperform" rating on the stock in a research report on Thursday, February 13th. Benchmark lifted their target price on Angi from $6.00 to $27.00 and gave the stock a "buy" rating in a research report on Thursday. Royal Bank of Canada lowered their price target on Angi from $27.50 to $17.00 and set a "sector perform" rating for the company in a report on Tuesday, April 15th. Citigroup reduced their price objective on Angi from $18.00 to $14.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Finally, StockNews.com downgraded shares of Angi from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $21.36.

Hedge Funds Weigh In On Angi

Hedge funds and other institutional investors have recently modified their holdings of the company. ArrowMark Colorado Holdings LLC lifted its position in Angi by 5.7% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 4,997,332 shares of the technology company's stock valued at $8,296,000 after purchasing an additional 267,946 shares during the last quarter. Westerly Capital Management LLC increased its stake in shares of Angi by 20.9% in the fourth quarter. Westerly Capital Management LLC now owns 2,840,000 shares of the technology company's stock valued at $4,714,000 after purchasing an additional 490,000 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Angi by 113.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,722,460 shares of the technology company's stock valued at $2,859,000 after buying an additional 914,037 shares during the last quarter. Two Sigma Investments LP boosted its position in shares of Angi by 27.7% during the fourth quarter. Two Sigma Investments LP now owns 732,077 shares of the technology company's stock worth $1,215,000 after buying an additional 158,662 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in Angi by 40.1% in the 4th quarter. Two Sigma Advisers LP now owns 724,518 shares of the technology company's stock worth $1,203,000 after buying an additional 207,300 shares in the last quarter. Institutional investors and hedge funds own 12.84% of the company's stock.

Angi Trading Up 7.3 %

The firm has a 50-day moving average of $13.87 and a 200 day moving average of $17.11. The company has a current ratio of 2.14, a quick ratio of 2.05 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $799.61 million, a price-to-earnings ratio of 201.03 and a beta of 1.84.

Angi (NASDAQ:ANGI - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.24. Angi had a return on equity of 3.41% and a net margin of 3.04%. The company had revenue of $245.91 million for the quarter, compared to analyst estimates of $239.73 million. As a group, equities analysts predict that Angi Inc. will post 0.08 EPS for the current fiscal year.

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.