Picton Mahoney Asset Management Acquires New Position in Angi Inc. (NASDAQ:ANGI)

Picton Mahoney Asset Management bought a new position in shares of Angi Inc. (NASDAQ:ANGI) during the 4th quarter, Holdings Channel.com reports. The fund bought 312,500 shares of the technology company’s stock, valued at approximately $778,000.

A number of other large investors have also modified their holdings of ANGI. Victory Capital Management Inc. purchased a new position in Angi in the fourth quarter valued at about $26,000. Delta Investment Management LLC raised its holdings in Angi by 318.2% during the fourth quarter. Delta Investment Management LLC now owns 46,000 shares of the technology company’s stock worth $115,000 after purchasing an additional 35,000 shares during the last quarter. Trust Co of the South acquired a new position in Angi during the fourth quarter worth $226,000. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Angi by 76.1% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 136,546 shares of the technology company’s stock valued at $270,000 after purchasing an additional 59,029 shares during the last quarter. Finally, Wolverine Asset Management LLC grew its holdings in Angi by 61.8% in the third quarter. Wolverine Asset Management LLC now owns 268,860 shares of the technology company’s stock valued at $532,000 after purchasing an additional 102,653 shares during the last quarter. 12.84% of the stock is owned by hedge funds and other institutional investors.

Angi Stock Performance

Shares of ANGI stock opened at $2.54 on Thursday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.47. The company has a market cap of $1.28 billion, a PE ratio of -31.75 and a beta of 1.97. The company’s fifty day simple moving average is $2.42 and its 200-day simple moving average is $2.34. Angi Inc. has a 52 week low of $1.54 and a 52 week high of $4.18.

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

Insiders Place Their Bets

In related news, CTO Kulesh Shanmugasundaram sold 11,748 shares of Angi stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $2.13, for a total transaction of $25,023.24. Following the sale, the chief technology officer now owns 160,506 shares of the company’s stock, valued at approximately $341,877.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 35,244 shares of company stock worth $85,643 in the last 90 days. 2.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

ANGI has been the topic of several recent research reports. StockNews.com upgraded shares of Angi from a “hold” rating to a “buy” rating in a research report on Thursday, February 15th. KeyCorp reduced their price target on shares of Angi from $4.00 to $3.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. The Goldman Sachs Group increased their price target on shares of Angi from $3.00 to $3.50 and gave the company a “buy” rating in a research report on Friday, February 16th. Royal Bank of Canada upped their target price on Angi from $2.25 to $3.25 and gave the company a “sector perform” rating in a research note on Thursday, February 15th. Finally, UBS Group increased their target price on Angi from $2.60 to $3.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $4.11.

Angi Company Profile

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.