Angi (NASDAQ:ANGI) Shares Gap Up to $1.98

Angi Inc. (NASDAQ:ANGI) shares gapped up prior to trading on Wednesday . The stock had previously closed at $1.98, but opened at $2.22. Angi shares last traded at $2.48, with a volume of 357,268 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Citigroup cut their target price on Angi from $4.00 to $3.25 and set a “buy” rating on the stock in a research note on Thursday, May 9th. JMP Securities assumed coverage on Angi in a research note on Tuesday, July 9th. They issued an “outperform” rating and a $3.25 target price on the stock. Finally, KeyCorp dropped their price target on Angi from $4.00 to $3.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $4.03.

Angi Trading Up 24.6 %

The stock has a 50-day moving average of $2.04 and a 200 day moving average of $2.31. The stock has a market cap of $1.23 billion, a PE ratio of -50.58 and a beta of 2.00. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.48.

Insider Activity at Angi

In related news, CTO Kulesh Shanmugasundaram sold 11,748 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $2.32, for a total value of $27,255.36. Following the sale, the chief technology officer now owns 125,262 shares in the company, valued at $290,607.84. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 35,244 shares of company stock worth $73,190 over the last quarter. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Angi

Large investors have recently made changes to their positions in the company. Victory Capital Management Inc. purchased a new position in Angi in the fourth quarter valued at $26,000. Tower Research Capital LLC TRC increased its stake in shares of Angi by 140.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 17,880 shares of the technology company’s stock valued at $45,000 after purchasing an additional 10,447 shares in the last quarter. Boulder Hill Capital Management LP purchased a new position in shares of Angi in the 4th quarter valued at about $57,000. BNP Paribas Financial Markets increased its stake in shares of Angi by 44.6% in the 1st quarter. BNP Paribas Financial Markets now owns 24,807 shares of the technology company’s stock valued at $65,000 after purchasing an additional 7,649 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new position in shares of Angi in the 4th quarter valued at about $101,000. 12.84% of the stock is currently owned by institutional investors and hedge funds.

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.