485,290 Shares in Angi Inc. $ANGI Bought by Flax Pond Capital LLC

Key Points

• Flax Pond Capital LLC acquired 485,290 Angi shares worth approximately $3.32 million, representing a 1.20% stake and 2.7% of its portfolio. Institutional investors collectively own 12.84% of Angi.
• Angi shares were reported down 7.2%, opening at $5.66, well below their 52-week high of $19.42. The stock’s market capitalization was approximately $228.95 million.
• Angi beat quarterly EPS expectations, reporting a loss of $0.22 per share versus the anticipated $0.41 loss, though revenue declined 3.1% year over year to $238.15 million. Analysts maintain a consensus “Hold” rating with a $10.43 target price.

Flax Pond Capital LLC purchased a new stake in Angi Inc. (NASDAQ:ANGI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 485,290 shares of the technology company's stock, valued at approximately $3,324,000. Angi makes up approximately 2.7% of Flax Pond Capital LLC's portfolio, making the stock its 14th largest position. Flax Pond Capital LLC owned 1.20% of Angi at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada bought a new stake in shares of Angi in the 1st quarter worth about $73,000. Janus Henderson Group PLC bought a new position in shares of Angi during the first quarter worth about $118,000. California State Teachers Retirement System acquired a new position in Angi in the first quarter worth about $237,000. Bank of America Corp DE acquired a new position in Angi in the first quarter worth about $325,000. Finally, Empowered Funds LLC bought a new stake in Angi in the first quarter valued at about $1,136,000. 12.84% of the stock is currently owned by institutional investors.

Angi Stock Down 7.2%

Shares of Angi stock opened at $5.66 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.52. The business's 50 day simple moving average is $5.81 and its 200-day simple moving average is $7.55. The stock has a market capitalization of $228.95 million, a price-to-earnings ratio of 13.80 and a beta of 1.61. Angi Inc. has a twelve month low of $4.53 and a twelve month high of $19.42.

Angi (NASDAQ:ANGI - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.41) by $0.19. The business had revenue of $238.15 million during the quarter, compared to analyst estimates of $240.63 million. Angi had a return on equity of 2.06% and a net margin of 1.93%.The business's revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.30 EPS. Equities research analysts forecast that Angi Inc. will post 0.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

ANGI has been the topic of a number of research analyst reports. Benchmark reaffirmed a "buy" rating on shares of Angi in a report on Tuesday, May 26th. Royal Bank Of Canada set a $14.00 price target on Angi in a research report on Tuesday, May 26th. JPMorgan Chase & Co. reduced their price objective on Angi from $10.00 to $5.00 and set a "neutral" rating on the stock in a research note on Thursday, May 7th. Zacks Research raised shares of Angi from a "strong sell" rating to a "hold" rating in a report on Monday, April 13th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Angi in a research note on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $10.43.

About Angi

Angi NASDAQ: ANGI operates a digital marketplace that connects homeowners and renters with service professionals for home improvement, maintenance and repair projects. Through its flagship platform, Angi provides user-friendly tools that allow consumers to research service providers, compare prices, read verified reviews and book appointments. The company's services span a wide range of home needs, including plumbing, electrical work, landscaping, painting, cleaning, remodeling and general handyman tasks.

Originally founded in 1995 as Angie's List, the company built its reputation on a subscription-based model and a comprehensive database of customer reviews.

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