Angi Inc. (NASDAQ:ANGI – Get Rating) benefited from a significant drop in short-term interest rates during the month of September. As of September 15, there was short interest totaling 7,400,000 shares, a decrease of 7.0% from the total of 7,960,000 shares as of August 31. Approximately 9.7% of the company’s shares are sold short. Based on an average daily trading volume of 1,340,000 shares, the day-to-cover ratio is currently 5.5 days.
A Wall Street analyst gives his opinion
A number of equity research analysts have recently published reports on ANGI shares. Wells Fargo & Company cut its price target on Angi from $11.00 to $9.00 and set an “overweight” rating on the stock in a Thursday, August 11 research report. Oppenheimer reissued an “outperform” rating and set a $10.00 price target on Angi shares in a research report on Friday, August 12. Credit Suisse Group cut its price target on Angi from $12.00 to $10.00 and set an “outperform” rating on the stock in a Thursday, August 11 research report. Goldman Sachs Group cut its price target on Angi from $9.00 to $8.50 and set a “buy” rating on the stock in a Thursday, June 9 research report. Finally, Benchmark reduced its price target on Angi from $15.00 to $13.00 in a Thursday, August 11 research report. Two equity research analysts rated the stock with a hold rating and five gave the stock a buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.39.
Angi Price Performance
ANGI shares were down $0.06 during Friday trading hours, hitting $2.95. The stock recorded a trading volume of 1,484,863 shares, compared to an average volume of 1,215,313 shares. Angi has a 12-month low of $2.88 and a 12-month high of $13.30. The stock has a market capitalization of $1.48 billion, a PE ratio of -14.75 and a beta of 1.81. The company has a debt ratio of 0.45, a quick ratio of 1.67 and a current ratio of 1.67. The company’s 50-day moving average is $4.30 and its two-hundred-day moving average is $4.76.
Angi (NASDAQ:ANGI – Get Rating) last announced its quarterly results on Tuesday, August 9. The technology company reported EPS of $0.05 for the quarter, beating analyst consensus estimates of $0.06 ($0.01). Angi had a negative return on equity of 8.89% and a negative net margin of 5.50%. The company posted revenue of $515.78 million in the quarter, compared to $495.41 million expected by analysts. During the same period of the previous year, the company achieved EPS of ($0.06). Angi’s revenue increased by 22.5% compared to the same quarter last year. Research analysts expect Angi to post an EPS of -0.18 for the current year.
Insiders place their bets
In other news, Bowman Director Angela R. Hicks sold 5,000 shares of the company in a trade that took place on Monday, August 15. The stock was sold at an average price of $5.19, for a total value of $25,950.00. Following the transaction, the administrator now owns 194,941 shares of the company, valued at $1,011,743.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Insiders sold a total of 15,000 shares of the company valued at $75,950 in the past 90 days. 2.40% of the shares are currently held by insiders.
Institutional entries and exits
Major investors have recently been buying and selling stocks. Allspring Global Investments Holdings LLC bought a new position in Angi stock in Q2 worth around $30,000. Quantbot Technologies LP bought a new position in Angi stock in Q1 worth approximately $54,000. Oppenheimer & Co. Inc. bought a new position in Angi stock in Q1 worth approximately $59,000. Bank of Montreal Can bought a new position in shares of Angi in the 2nd quarter for a value of approximately $66,000. Finally, Hsbc Holdings PLC bought a new position in Angi shares in Q1 worth around $75,000. 12.98% of the shares are held by institutional investors.
Angi Company Profile
(Get a rating)
Angi Inc connects home service professionals with consumers in the United States and around the world. Its Angi Ads business, which connects consumers with service professionals for local services through Angi’s national online directory of service professionals in various service categories; provides consumers with valuable tools, services and content, including verified reviews, to help them find, buy and rent local services; and sells mobile and digital website and magazine advertising to service professionals, as well as quoting, billing and payment services.
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