Angi (NASDAQ:ANGI) Shares Gap Down to $2.60

Angi Inc. (NASDAQ:ANGI - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $2.60, but opened at $2.31. Angi shares last traded at $2.57, with a volume of 305,026 shares changing hands.

Analyst Ratings Changes

A number of analysts have commented on ANGI shares. The Goldman Sachs Group raised their price objective on Angi from $3.00 to $3.50 and gave the stock a "buy" rating in a research report on Friday, February 16th. KeyCorp dropped their target price on Angi from $4.00 to $3.00 and set an "overweight" rating for the company in a report on Friday, May 3rd. UBS Group increased their target price on Angi from $2.60 to $3.00 and gave the stock a "neutral" rating in a report on Thursday, February 15th. Royal Bank of Canada increased their target price on Angi from $2.25 to $3.25 and gave the stock a "sector perform" rating in a report on Thursday, February 15th. Finally, StockNews.com raised Angi from a "hold" rating to a "buy" rating in a report on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, Angi presently has an average rating of "Moderate Buy" and an average price target of $4.11.

Angi Price Performance

The company has a 50 day moving average price of $2.43 and a 200 day moving average price of $2.34. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -31.63 and a beta of 1.97. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.47.

Angi (NASDAQ:ANGI - Get Free Report) last released its earnings results on Tuesday, February 13th. The technology company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.03. The company had revenue of $300.43 million during the quarter, compared to analysts' expectations of $306.73 million. Angi had a negative return on equity of 3.15% and a negative net margin of 2.84%. As a group, equities research analysts forecast that Angi Inc. will post -0.01 earnings per share for the current year.

Insider Transactions at Angi

In other news, CTO Kulesh Shanmugasundaram sold 11,748 shares of the firm's stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $2.13, for a total value of $25,023.24. Following the transaction, the chief technology officer now directly owns 160,506 shares in the company, valued at approximately $341,877.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 35,244 shares of company stock worth $85,643 in the last three months. Insiders own 2.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Inspire Investing LLC bought a new position in Angi during the first quarter worth about $1,234,000. SG Americas Securities LLC bought a new position in Angi during the first quarter worth about $162,000. GSA Capital Partners LLP lifted its holdings in Angi by 469.5% during the first quarter. GSA Capital Partners LLP now owns 511,684 shares of the technology company's stock worth $1,341,000 after acquiring an additional 421,841 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Angi by 44.6% during the first quarter. BNP Paribas Financial Markets now owns 24,807 shares of the technology company's stock worth $65,000 after acquiring an additional 7,649 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. bought a new position in Angi during the first quarter worth about $108,000. 12.84% of the stock is currently 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.