Pale Fire Capital SE Invests $23.39 Million in Angi Inc. $ANGI

Key Points

• Pale Fire Capital SE acquired 3.93 million shares of Angi during the second quarter, valued at approximately $23.39 million. The position represented about 9.72% of Angi’s outstanding shares and 0.6% of the fund’s holdings.
• Angi reported a quarterly loss of $5.70 per share, missing estimates by $5.83, while revenue fell 10.9% year over year to $248 million. The company posted a negative net margin of 22.35%.
• Angi shares opened at $4.96, near their 52-week low of $4.26, and analysts’ consensus rating was Hold, with an average price target of $9.29.

Pale Fire Capital SE acquired a new stake in Angi Inc. (NASDAQ:ANGI - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,930,416 shares of the technology company's stock, valued at approximately $23,386,000. Angi comprises approximately 0.6% of Pale Fire Capital SE's holdings, making the stock its 13th biggest position. Pale Fire Capital SE owned approximately 9.72% of Angi at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Parallel Advisors LLC bought a new stake in shares of Angi in the 1st quarter valued at approximately $25,000. Royal Bank of Canada bought a new stake in Angi during the first quarter valued at $73,000. Janus Henderson Group PLC bought a new stake in Angi during the first quarter valued at $118,000. California State Teachers Retirement System bought a new stake in Angi during the first quarter valued at $237,000. Finally, Bank of America Corp DE acquired a new stake in shares of Angi during the first quarter worth $325,000. Institutional investors own 12.84% of the company's stock.

Angi Price Performance

NASDAQ ANGI opened at $4.96 on Thursday. The company has a 50-day moving average price of $5.47 and a two-hundred day moving average price of $6.30. Angi Inc. has a 52 week low of $4.26 and a 52 week high of $18.70. The stock has a market cap of $200.63 million, a price-to-earnings ratio of -0.90 and a beta of 1.61. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58.

Angi (NASDAQ:ANGI - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $248.00 million for the quarter, compared to analyst estimates of $253.43 million. During the same quarter in the prior year, the firm posted $0.23 earnings per share. The business's quarterly revenue was down 10.9% on a year-over-year basis. Analysts forecast that Angi Inc. will post 0.16 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ANGI shares. Royal Bank Of Canada set a $14.00 price target on shares of Angi in a research report on Tuesday, May 26th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Angi in a research report on Wednesday, June 24th. KeyCorp lowered shares of Angi from an "overweight" rating to a "sector weight" rating in a research note on Wednesday, May 6th. UBS Group set a $5.00 target price on shares of Angi and gave the stock a "neutral" rating in a report on Friday, August 7th. Finally, Wall Street Zen downgraded Angi from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. 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's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target 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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