Angie’s List and IAC’s HomeAdvisor Now Trading as ANGI Homeservices; IAC Shares Remain Overvalued
The acquisition of Angie’s List by IAC’s HomeAdvisor was completed on Sept. 29. What we believe to be one of IAC’s moatier businesses (although we reiterate our no-moat rating for the company as a whole), HomeAdvisor, is now ANGI Homeservices, as stated in the acquisition announcement in May 2017. In addition, ANGI Homeservices began trading under the ticker symbol ANGI on Oct. 2. The market has reacted positively to this news as both ANGI Homeservices and IAC, which maintains an 87%-plus owners...IAC/InterActiveCorp is a media and Internet company. The company has majority ownership of both Match Group, Inc. (Match Group or MTCH), which includes Tinder, Match, PlentyOfFish and OkCupid, and ANGI Homeservices Inc. (ANGI Homeservices or ANGI), which includes HomeAdvisor, Angie's List and Handy, and also operates Vimeo, Dotdash and The Daily Beast, among many other online businesses. The company's operating segments are MTCH, ANGI, Vimeo, Dotdash and Applications, which are also reportable segments, and within its Emerging & Other reportable segment, Ask Media Group, BlueCrew, The Daily Beast, College Humor Media and IAC Films.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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