ANGI Homeservices (NASDAQ:ANGI) Trading 21.5% Higher on Better-Than-Expected Earnings

Shares of ANGI Homeservices Inc (NASDAQ:ANGI) traded up 21.5% during trading on Thursday following a stronger than expected earnings report. The company traded as high as $8.47 and last traded at $7.85, 8,811,193 shares changed hands during mid-day trading. An increase of 500% from the average session volume of 1,468,180 shares. The stock had previously closed at $6.46.

The technology company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. ANGI Homeservices had a return on equity of 6.42% and a net margin of 6.53%. The company had revenue of $357.40 million during the quarter, compared to analysts’ expectations of $355.59 million. During the same period last year, the firm earned $0.05 EPS. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis.

A number of analysts have weighed in on the company. Nomura decreased their price objective on ANGI Homeservices from $17.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. BMO Capital Markets decreased their price objective on ANGI Homeservices from $20.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Evercore ISI reaffirmed a “hold” rating and set a $11.00 price objective on shares of ANGI Homeservices in a research report on Monday, August 12th. Needham & Company LLC cut their target price on ANGI Homeservices from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Finally, Wedbush downgraded ANGI Homeservices from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $22.00 to $10.00 in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $16.35.

In related news, major shareholder Luxor Capital Group, Lp sold 294,361 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $6.65, for a total value of $1,957,500.65. Also, Director Bowman Angela R. Hicks sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $6.65, for a total value of $33,250.00. Over the last three months, insiders have sold 1,532,858 shares of company stock valued at $10,321,385. Company insiders own 13.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its holdings in shares of ANGI Homeservices by 332.5% in the third quarter. Tower Research Capital LLC TRC now owns 22,088 shares of the technology company’s stock valued at $157,000 after buying an additional 16,981 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of ANGI Homeservices by 9.3% in the third quarter. First Trust Advisors LP now owns 28,628 shares of the technology company’s stock valued at $203,000 after buying an additional 2,444 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of ANGI Homeservices by 120.5% in the third quarter. California Public Employees Retirement System now owns 32,477 shares of the technology company’s stock valued at $230,000 after buying an additional 17,747 shares in the last quarter. Stephens Investment Management Group LLC increased its holdings in shares of ANGI Homeservices by 39.0% in the third quarter. Stephens Investment Management Group LLC now owns 1,458,963 shares of the technology company’s stock valued at $10,337,000 after buying an additional 409,501 shares in the last quarter. Finally, Hexavest Inc. bought a new position in shares of ANGI Homeservices in the third quarter valued at $136,000. 13.87% of the stock is owned by hedge funds and other institutional investors.

The company has a market cap of $3.42 billion, a P/E ratio of 51.47 and a beta of 2.07. The company has a fifty day simple moving average of $6.96 and a 200-day simple moving average of $11.35. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.21 and a quick ratio of 2.21.

ANGI Homeservices Company Profile (NASDAQ:ANGI)

ANGI Homeservices Inc operates a digital marketplace for home services, connecting millions of homeowners with home service professionals in North America and Europe. Its HomeAdvisor digital marketplace service connects consumers with service professionals for home repair, maintenance, and improvement projects, as well as provides consumers with tools and resources to help them find local, pre-screened, and customer-rated service professionals.

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