Angi (NASDAQ:ANGI) Shares Down 3.4% – Here’s Why

Angi Inc. (NASDAQ:ANGI) was down 3.4% during trading on Wednesday . The stock traded as low as $13.89 and last traded at $14.20. Approximately 196,600 shares changed hands during mid-day trading, an increase of 67% from the average daily volume of 117,445 shares. The stock had previously closed at $14.70.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ANGI. JMP Securities lowered their price objective on shares of Angi from $30.00 to $27.50 and set a “market outperform” rating on the stock in a research report on Thursday, February 13th. Citigroup upped their target price on shares of Angi from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Angi in a research note on Wednesday, December 18th. Finally, StockNews.com cut shares of Angi from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $30.50.

Angi Stock Performance

The company has a market cap of $693.29 million, a price-to-earnings ratio of 174.26 and a beta of 1.91. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.05 and a current ratio of 2.14. The firm’s 50 day simple moving average is $17.04 and its 200-day simple moving average is $19.75.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Angi by 46.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 262,529 shares of the technology company’s stock worth $677,000 after acquiring an additional 83,704 shares during the last quarter. Verition Fund Management LLC purchased a new position in Angi during the 3rd quarter worth approximately $116,000. ArrowMark Colorado Holdings LLC raised its holdings in shares of Angi by 1.8% in the third quarter. ArrowMark Colorado Holdings LLC now owns 4,729,386 shares of the technology company’s stock valued at $12,202,000 after buying an additional 84,328 shares during the last quarter. Centiva Capital LP acquired a new stake in shares of Angi during the third quarter worth $46,000. Finally, XTX Topco Ltd raised its holdings in Angi by 250.1% during the third quarter. XTX Topco Ltd now owns 100,878 shares of the technology company’s stock worth $260,000 after purchasing an additional 72,060 shares in the last quarter. Hedge funds and other institutional investors own 12.84% of the company’s stock.

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.