Angi (NASDAQ:ANGI) Trading Up 4% – Still a Buy?

Shares of Angi Inc. (NASDAQ:ANGI) shot up 4% on Tuesday . The stock traded as high as $2.59 and last traded at $2.59. 41,923 shares were traded during trading, a decline of 94% from the average session volume of 728,158 shares. The stock had previously closed at $2.49.

Wall Street Analyst Weigh In

Separately, JMP Securities began coverage on Angi in a research report on Tuesday, July 9th. They issued an “outperform” rating and a $3.25 target price for the company. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3.78.

Angi Stock Up 2.0 %

The company has a debt-to-equity ratio of 0.48, a current ratio of 1.98 and a quick ratio of 1.98. The stock has a fifty day moving average price of $2.58 and a two-hundred day moving average price of $2.30. The company has a market cap of $1.27 billion, a P/E ratio of -51.20 and a beta of 1.95.

Angi (NASDAQ:ANGI) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $315.13 million for the quarter, compared to analyst estimates of $305.06 million. Angi had a negative return on equity of 0.07% and a negative net margin of 0.68%. During the same quarter last year, the company earned ($0.03) earnings per share.

Insider Buying and Selling

In other news, CTO Kulesh Shanmugasundaram sold 11,748 shares of Angi stock in a transaction 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 completion of the transaction, the chief technology officer now directly owns 125,262 shares in the company, valued at approximately $290,607.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Angi

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ANGI. Dimensional Fund Advisors LP grew its position in Angi by 36.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,855,694 shares of the technology company’s stock worth $3,562,000 after buying an additional 494,739 shares in the last quarter. Inspire Investing LLC purchased a new position in Angi during the first quarter worth about $1,234,000. GSA Capital Partners LLP grew its position 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 buying an additional 421,841 shares in the last quarter. AQR Capital Management LLC lifted its stake in Angi by 24.1% during the second quarter. AQR Capital Management LLC now owns 829,800 shares of the technology company’s stock worth $1,593,000 after purchasing an additional 161,189 shares during the last quarter. Finally, Cowen AND Company LLC bought a new stake in Angi during the second quarter worth about $267,000. 12.84% of the stock is currently owned by hedge funds and other 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.