Angie's List Inc (ANGI) Lowered to “Hold” at Zacks Investment Research
Angie's List Inc (NASDAQ:ANGI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Angie’s List Inc. provides information, reports and reviews about service companies. The Company offers product and company reviews, actively collects data on listed companies, and provides complaint resolution services between business and client. Its members share their experiences with each other so that they can choose the service company that’s right for their job. The Company provides detailed reviews on roofers, plumbers, house cleaners and dentists along with others. Angie’s List, Inc. is headquartered in Indianapolis, Indiana. “
Several other equities analysts have also commented on ANGI. Loop Capital reissued a “buy” rating and issued a $12.00 target price on shares of Angie's List in a report on Tuesday, February 14th. Needham & Company LLC reissued a “hold” rating on shares of Angie's List in a report on Thursday, February 16th. Roth Capital lowered shares of Angie's List from a “neutral” rating to a “sell” rating and decreased their target price for the company from $6.50 to $4.75 in a report on Thursday, February 16th. Finally, Jefferies Group LLC lowered shares of Angie's List from a “buy” rating to a “hold” rating in a report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $8.30.
Angie's List (NASDAQ:ANGI) traded up 3.69% during trading on Wednesday, reaching $11.81. 1,111,593 shares of the company’s stock were exchanged. The firm’s market cap is $707.02 million. Angie's List has a 52-week low of $5.22 and a 52-week high of $11.96. The stock’s 50 day moving average price is $8.23 and its 200 day moving average price is $7.46.
Angie's List (NASDAQ:ANGI) last released its earnings results on Tuesday, May 2nd. The technology company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.08. Angie's List had a negative net margin of 0.56% and a negative return on equity of 293.31%. The firm had revenue of $73.13 million for the quarter, compared to analyst estimates of $74.48 million. Equities research analysts anticipate that Angie's List will post ($0.04) EPS for the current fiscal year.
In related news, COO J Mark Howell sold 7,342 shares of Angie's List stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $5.45, for a total transaction of $40,013.90. Following the sale, the chief operating officer now directly owns 101,401 shares of the company’s stock, valued at approximately $552,635.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott A. Durchslag sold 40,358 shares of Angie's List stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $5.51, for a total transaction of $222,372.58. Following the sale, the chief executive officer now directly owns 290,708 shares in the company, valued at $1,601,801.08. The disclosure for this sale can be found here. Insiders have sold a total of 65,652 shares of company stock worth $360,058 over the last ninety days. 35.80% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in ANGI. Morgan Stanley raised its stake in shares of Angie's List by 90.3% in the third quarter. Morgan Stanley now owns 3,313,509 shares of the technology company’s stock valued at $32,837,000 after buying an additional 1,571,895 shares during the period. Zacks Investment Management acquired a new stake in Angie's List during the third quarter valued at approximately $183,000. OMERS ADMINISTRATION Corp acquired a new stake in Angie's List during the third quarter valued at approximately $258,000. Dimensional Fund Advisors LP increased its stake in Angie's List by 16.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 298,505 shares of the technology company’s stock valued at $2,457,000 after buying an additional 42,476 shares in the last quarter. Finally, Royce & Associates LP increased its stake in Angie's List by 6.3% in the fourth quarter. Royce & Associates LP now owns 34,045 shares of the technology company’s stock valued at $280,000 after buying an additional 2,029 shares in the last quarter. 66.62% of the stock is currently owned by institutional investors.
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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