Pacer Advisors Inc. Makes New Investment in Angi Inc. $ANGI

Key Points

• Pacer Advisors acquired 232,465 shares of Angi Inc. in the first quarter, valued at approximately $1.59 million and representing about 0.57% of the company. Institutional investors collectively owned 12.84% of Angi.
• Angi reported a quarterly loss of $5.70 per share, far below the $0.13 consensus estimate, while revenue fell 10.9% year over year to $248 million.
• Shares opened at $4.84, near the company’s 52-week low of $4.26. Analysts maintain a consensus “Hold” rating, with an average price target of $9.29.

Pacer Advisors Inc. acquired a new stake in Angi Inc. (NASDAQ:ANGI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 232,465 shares of the technology company's stock, valued at approximately $1,592,000. Pacer Advisors Inc. owned approximately 0.57% of Angi at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC acquired a new position in shares of Angi during the first quarter worth approximately $25,000. Royal Bank of Canada acquired a new stake in shares of Angi in the first quarter valued at approximately $73,000. Janus Henderson Group PLC bought a new position in Angi in the 1st quarter worth approximately $118,000. California State Teachers Retirement System acquired a new position in Angi during the 1st quarter worth $237,000. Finally, Bank of America Corp DE acquired a new position in Angi during the 1st quarter worth $325,000. 12.84% of the stock is owned by institutional investors.

Angi Stock Performance

Shares of Angi stock opened at $4.84 on Friday. The firm has a fifty day moving average of $5.79 and a two-hundred day moving average of $7.28. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.50 and a current ratio of 1.20. The stock has a market capitalization of $195.78 million, a price-to-earnings ratio of -0.88 and a beta of 1.62. Angi Inc. has a 52 week low of $4.26 and a 52 week high of $18.94.

Angi (NASDAQ:ANGI - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The technology company reported ($5.70) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($5.83). Angi had a positive return on equity of 1.52% and a negative net margin of 22.35%.The company had revenue of $248.00 million during the quarter, compared to the consensus estimate of $253.43 million. During the same quarter in the prior year, the business earned $0.23 earnings per share. The firm's revenue for the quarter was down 10.9% on a year-over-year basis. As a group, equities research analysts predict that Angi Inc. will post 0.16 EPS for the current year.

Wall Street Analysts Forecast Growth

ANGI has been the topic of a number of recent research reports. The Goldman Sachs Group set a $6.00 price objective on Angi and gave the company a "neutral" rating in a research report on Monday, July 13th. Wall Street Zen lowered Angi from a "hold" rating to a "sell" rating in a research note on Saturday. Truist Financial set a $10.00 price target on Angi and gave the company a "buy" rating in a report on Thursday. KeyCorp cut Angi from an "overweight" rating to a "sector weight" rating in a report on Wednesday, May 6th. Finally, UBS Group set a $5.00 target price on shares of Angi and gave the company a "neutral" rating in a research report on Friday. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $9.29.

Angi Profile

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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