Angi (NASDAQ:ANGI) Sees Large Volume Increase - Here's Why

Shares of Angi Inc. (NASDAQ:ANGI - Get Free Report) saw an uptick in trading volume on Monday . 401,058 shares were traded during trading, an increase of 60% from the previous session's volume of 250,415 shares.The stock last traded at $11.76 and had previously closed at $11.79.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ANGI shares. Citigroup cut 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. Benchmark increased their price objective on shares of Angi from $6.00 to $27.00 and gave the stock a "buy" rating in a research report on Thursday. UBS Group lowered their target price on shares of Angi from $24.00 to $20.00 and set a "neutral" rating for the company in a research note on Thursday. Royal Bank of Canada cut their price target on shares of Angi from $27.50 to $17.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 15th. Finally, StockNews.com raised Angi from a "hold" rating to a "buy" rating in a research report on Saturday. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $21.36.

Angi Price Performance

The business has a 50-day moving average of $13.87 and a 200 day moving average of $17.06. 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 firm has a market capitalization of $799.61 million, a P/E ratio of 201.03 and a beta of 1.84.

Angi (NASDAQ:ANGI - Get Free Report) last issued its earnings results on Tuesday, May 6th. The technology company reported $0.30 earnings per share for the quarter, topping 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. On average, sell-side analysts predict that Angi Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Angi

Several hedge funds and other institutional investors have recently made changes to their positions in ANGI. Squarepoint Ops LLC purchased a new stake in shares of Angi in the fourth quarter worth approximately $74,000. Two Sigma Advisers LP grew its stake in shares of 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 acquiring an additional 207,300 shares in the last quarter. Two Sigma Investments LP lifted 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 valued at $1,215,000 after purchasing an additional 158,662 shares in the last quarter. State of Wyoming bought a new stake in Angi in the 4th quarter worth about $69,000. Finally, Graham Capital Management L.P. purchased a new stake in Angi in the 4th quarter valued at about $46,000. 12.84% of the stock is owned by institutional investors.

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.