Balyasny Asset Management L.P. Makes New Investment in Angi Inc. (NASDAQ:ANGI)

Balyasny Asset Management L.P. purchased a new stake in shares of Angi Inc. (NASDAQ:ANGI - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 58,635 shares of the technology company's stock, valued at approximately $97,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ANGI. Arrowstreet Capital Limited Partnership lifted its stake in shares of Angi by 113.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,722,460 shares of the technology company's stock valued at $2,859,000 after purchasing an additional 914,037 shares during the last quarter. Westerly Capital Management LLC increased its holdings in Angi by 20.9% during the 4th quarter. Westerly Capital Management LLC now owns 2,840,000 shares of the technology company's stock worth $4,714,000 after purchasing an additional 490,000 shares during the period. Teacher Retirement System of Texas purchased a new position in Angi during the 4th quarter worth $469,000. ArrowMark Colorado Holdings LLC increased its holdings in Angi by 5.7% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 4,997,332 shares of the technology company's stock worth $8,296,000 after purchasing an additional 267,946 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Angi in the 4th quarter valued at $423,000. 12.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ANGI. Royal Bank of Canada cut their price target on Angi from $27.50 to $17.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 15th. KeyCorp cut their price target on Angi from $22.00 to $19.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Citigroup cut their price target on Angi from $18.00 to $14.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. JMP Securities dropped their target price on Angi from $30.00 to $27.50 and set a "market outperform" rating on the stock in a research note on Thursday, February 13th. Finally, Wall Street Zen upgraded Angi from a "hold" rating to a "buy" rating in a research note on Saturday, May 10th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $21.36.

Angi Stock Performance

ANGI traded down $0.45 on Friday, reaching $15.56. 1,099,071 shares of the stock were exchanged, compared to its average volume of 340,790. The firm has a market capitalization of $746.68 million, a PE ratio of 194.52 and a beta of 1.84. The company's 50-day moving average price is $13.93 and its 200 day moving average price is $16.50. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.14 and a quick ratio of 2.05. Angi Inc. has a fifty-two week low of $10.88 and a fifty-two week high of $29.15.

Angi (NASDAQ:ANGI - Get Free Report) last released its quarterly 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. The company had revenue of $245.91 million during the quarter, compared to analysts' expectations of $239.73 million. Angi had a return on equity of 3.41% and a net margin of 3.04%. As a group, sell-side analysts forecast that Angi Inc. will post 0.08 EPS for the current fiscal year.

Angi 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.