Morgan Stanley reduced its stake in shares of Angie’s List, Inc. (NASDAQ:ANGI) by 26.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,279,187 shares of the technology company’s stock after selling 798,882 shares during the period. Morgan Stanley’s holdings in Angie’s List were worth $12,992,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. American International Group Inc. increased its position in Angie’s List by 7.1% in the first quarter. American International Group Inc. now owns 24,481 shares of the technology company’s stock worth $140,000 after buying an additional 1,621 shares during the period. JPMorgan Chase & Co. purchased a new position in Angie’s List during the first quarter worth approximately $153,000. Global X Management Co. LLC increased its position in Angie’s List by 4.6% in the first quarter. Global X Management Co. LLC now owns 31,159 shares of the technology company’s stock worth $178,000 after buying an additional 1,384 shares during the period. Stoneridge Investment Partners LLC bought a new position in shares of Angie’s List during the first quarter worth approximately $243,000. Finally, Alambic Investment Management L.P. bought a new position in shares of Angie’s List during the first quarter worth approximately $247,000. 70.37% of the stock is currently owned by institutional investors.
Angie’s List, Inc. (NASDAQ:ANGI) traded up 1.04% during midday trading on Wednesday, hitting $11.62. 308,219 shares of the company traded hands. The firm’s market capitalization is $707.40 million. The stock’s 50-day moving average is $12.37 and its 200-day moving average is $9.13. Angie’s List, Inc. has a 12-month low of $5.22 and a 12-month high of $13.28.
Angie’s List (NASDAQ:ANGI) last issued its quarterly earnings results on Wednesday, July 26th. The technology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by $0.10. Angie’s List had a negative net margin of 4.62% and a negative return on equity of 392.52%. The business had revenue of $72.80 million for the quarter, compared to the consensus estimate of $73.87 million. During the same quarter in the previous year, the business earned $0.08 earnings per share. The firm’s revenue was down 12.3% on a year-over-year basis. Analysts anticipate that Angie’s List, Inc. will post ($0.07) EPS for the current fiscal year.
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A number of equities analysts have commented on the company. Piper Jaffray Companies initiated coverage on Angie’s List in a report on Wednesday. They set an “overweight” rating and a $14.00 target price on the stock. BidaskClub cut Angie’s List from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Zacks Investment Research cut Angie’s List from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. ValuEngine raised Angie’s List from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Cowen and Company restated a “hold” rating and issued a $8.50 price target on shares of Angie’s List in a research report on Friday, July 14th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. Angie’s List has an average rating of “Hold” and a consensus target price of $11.04.
In related news, insider Bowman Angela R. Hicks sold 300,000 shares of Angie’s List stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $11.96, for a total value of $3,588,000.00. Following the sale, the insider now owns 670,413 shares in the company, valued at $8,018,139.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael S. Maurer sold 6,380 shares of Angie’s List stock in a transaction on Monday, August 7th. The shares were sold at an average price of $12.00, for a total transaction of $76,560.00. Following the completion of the sale, the director now owns 180,816 shares in the company, valued at approximately $2,169,792. The disclosure for this sale can be found here. Insiders have sold 514,900 shares of company stock worth $6,093,652 over the last quarter. Company insiders own 18.20% of the company’s stock.
About Angie’s List
Angie’s List, Inc operates a national local services consumer review service and marketplace. As of December 31, 2016, the Company helped facilitate transactions between over five million members and its collection of service providers in over 700 categories of service nationwide. Its tools, services and content across multiple platforms enables consumers to research, shop for and purchase local services for needs, as well as rate and review the providers of these services across the United States.
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