Trust Co of the South Lowers Stock Position in Angi Inc. (NASDAQ:ANGI)

Trust Co of the South reduced its position in Angi Inc. (NASDAQ:ANGI) by 67.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,786 shares of the technology company’s stock after selling 53,439 shares during the quarter. Trust Co of the South’s holdings in Angi were worth $67,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC purchased a new position in shares of Angi in the 2nd quarter worth about $85,000. AQR Capital Management LLC raised its holdings in Angi by 24.1% in the second quarter. AQR Capital Management LLC now owns 829,800 shares of the technology company’s stock valued at $1,593,000 after buying an additional 161,189 shares during the period. Dimensional Fund Advisors LP raised its holdings in Angi by 36.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,855,694 shares of the technology company’s stock valued at $3,562,000 after buying an additional 494,739 shares during the period. Headlands Technologies LLC acquired a new position in Angi during the second quarter valued at approximately $26,000. Finally, Cowen AND Company LLC purchased a new stake in Angi during the second quarter worth approximately $267,000. Institutional investors and hedge funds own 12.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JMP Securities initiated coverage on Angi in a report on Tuesday, July 9th. They issued an “outperform” rating and a $3.25 price target 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 Performance

Shares of ANGI stock opened at $2.52 on Thursday. The stock’s 50-day moving average is $2.53 and its two-hundred day moving average is $2.31. Angi Inc. has a fifty-two week low of $1.54 and a fifty-two week high of $3.10. The firm has a market cap of $1.26 billion, a P/E ratio of -50.40 and a beta of 1.95. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.98 and a quick ratio of 1.98.

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

Insider Transactions at Angi

In other Angi news, CTO Kulesh Shanmugasundaram sold 11,748 shares of the company’s stock in a transaction that occurred 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 owns 125,262 shares of the company’s stock, valued at approximately $290,607.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.90% of the company’s stock.

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.