Pale Fire Capital SE Takes $23.39 Million Position in Angi Inc. $ANGI

Pale Fire Capital SE acquired a new stake in shares of Angi Inc. (NASDAQ:ANGI) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,930,416 shares of the technology company’s stock, valued at approximately $23,386,000. Angi makes up about 0.6% of Pale Fire Capital SE’s holdings, making the stock its 13th biggest position. Pale Fire Capital SE owned 0.10% of Angi at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ANGI. Pacer Advisors Inc. purchased a new position in shares of Angi during the first quarter valued at $1,592,000. Empowered Funds LLC purchased a new stake in Angi in the 1st quarter worth about $1,136,000. Parallel Advisors LLC purchased a new stake in Angi in the 1st quarter worth about $25,000. Flax Pond Capital LLC acquired a new stake in Angi during the 1st quarter worth about $3,324,000. Finally, Bank of America Corp DE acquired a new stake in Angi during the 1st quarter worth about $325,000. 12.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ANGI has been the topic of several research analyst reports. Royal Bank Of Canada set a $14.00 target price on Angi in a research note on Tuesday, May 26th. Truist Financial set a $10.00 price target on shares of Angi and gave the stock a “buy” rating in a report on Thursday, August 6th. KeyCorp downgraded shares of Angi from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, May 6th. Wall Street Zen lowered shares of Angi from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Benchmark reiterated a “buy” rating on shares of Angi in a research note on Tuesday, May 26th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $9.29.

Angi Stock Performance

Shares of NASDAQ ANGI opened at $4.96 on Thursday. The business’s 50-day moving average price is $5.47 and its two-hundred day moving average price is $6.30. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. Angi Inc. has a one year low of $4.26 and a one year high of $18.70. The company has a market capitalization of $200.63 million, a P/E ratio of -0.90 and a beta of 1.61.

Angi (NASDAQ:ANGI) last issued its earnings results on Tuesday, August 4th. The technology company reported ($5.70) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($5.83). Angi had a positive return on equity of 1.52% and a negative net margin of 22.35%.The firm had revenue of $248.00 million during the quarter, compared to analyst estimates of $253.43 million. During the same period in the previous year, the company earned $0.23 earnings per share. The business’s revenue for the quarter was down 10.9% on a year-over-year basis. Analysts anticipate that Angi Inc. will post 0.16 earnings per share for the current fiscal year.

Angi Profile

Angi (NASDAQ: ANGI) operates a digital marketplace that connects homeowners and renters with service professionals for home improvement, maintenance and repair projects. Through its flagship platform, Angi provides user-friendly tools that allow consumers to research service providers, compare prices, read verified reviews and book appointments. The company’s services span a wide range of home needs, including plumbing, electrical work, landscaping, painting, cleaning, remodeling and general handyman tasks.

Originally founded in 1995 as Angie’s List, the company built its reputation on a subscription-based model and a comprehensive database of customer reviews.