Connor Clark & Lunn Investment Management Ltd. Reduces Stock Position in Angi Inc. (NASDAQ:ANGI)

Posted by Defense World Staff on Aug 23rd, 2023

Connor Clark & Lunn Investment Management Ltd. cut its position in shares of Angi Inc. (NASDAQ:ANGI – Free Report) by 2.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 555,926 shares of the technology company’s stock after selling 14,006 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.11% of Angi worth $1,262,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of ANGI. Chemistry Wealth Management LLC raised its position in Angi by 47.7% during the 1st quarter. Chemistry Wealth Management LLC now owns 18,014 shares of the technology company’s stock valued at $41,000 after purchasing an additional 5,815 shares in the last quarter. Pinnacle Associates Ltd. raised its position in Angi by 53.8% during the 1st quarter. Pinnacle Associates Ltd. now owns 20,000 shares of the technology company’s stock valued at $45,000 after purchasing an additional 7,000 shares in the last quarter. UBS Group AG raised its position in Angi by 188.6% during the 4th quarter. UBS Group AG now owns 20,636 shares of the technology company’s stock valued at $48,000 after purchasing an additional 13,485 shares in the last quarter. Bank of America Corp DE raised its position in Angi by 227.8% during the 4th quarter. Bank of America Corp DE now owns 22,623 shares of the technology company’s stock valued at $53,000 after purchasing an additional 15,722 shares in the last quarter. Finally, Alpine Global Management LLC bought a new position in shares of Angi in the 4th quarter worth $54,000. 11.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ANGI shares. Benchmark reduced their price target on Angi from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, August 10th. Truist Financial reissued a “buy” rating and issued a $5.00 price target on shares of Angi in a research report on Monday. Credit Suisse Group reduced their price target on Angi from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Thursday, August 10th. Royal Bank of Canada reduced their target price on Angi from $3.50 to $3.25 and set a “sector perform” rating on the stock in a research report on Thursday, August 10th. Finally, StockNews.com initiated coverage on Angi in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $4.61.

Get Our Latest Stock Analysis on Angi

Angi Trading Down 2.5 %

Shares of Angi stock opened at $2.33 on Wednesday. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -11.65 and a beta of 1.66. Angi Inc. has a fifty-two week low of $1.81 and a fifty-two week high of $4.61. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.69 and a current ratio of 1.69. The stock has a 50 day moving average of $3.33 and a 200 day moving average of $2.85.

Angi (NASDAQ:ANGI – Get Free Report) last released its quarterly earnings results on Wednesday, August 9th. The technology company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). Angi had a negative return on equity of 7.59% and a negative net margin of 5.91%. The business had revenue of $375.10 million during the quarter, compared to analyst estimates of $403.42 million. During the same period last year, the business posted ($0.05) earnings per share. The company’s quarterly revenue was down 27.3% on a year-over-year basis. As a group, research analysts predict that Angi Inc. will post -0.11 earnings per share for the current year.

About Angi

(Free Report)

Angi Inc connects home service professionals with consumers in the United States and internationally. The company's Ads and Leads, which connects consumers with service professionals for local services through nationwide online directory of service professionals in various service categories; provides consumers with valuable tools, services, and content, including verified reviews, to help them research, shop, and hire for local services; and sells term-based website, and mobile and digital magazine advertising to service professionals, as well as quoting, invoicing, and payment services.