Resideo Technologies (NYSE:REZI) Trading 8.9% Higher After Insider Buying Activity

Resideo Technologies Inc (NYSE:REZI) traded up 8.9% during trading on Friday after an insider bought additional shares in the company. The stock traded as high as $10.51 and last traded at $10.29, 2,208,015 shares were traded during trading. An increase of 70% from the average session volume of 1,301,231 shares. The stock had previously closed at $9.45.

Specifically, CFO Robert P. Ryder purchased 22,900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were bought at an average cost of $8.81 per share, with a total value of $201,749.00. Following the acquisition, the chief financial officer now owns 22,900 shares of the company’s stock, valued at approximately $201,749. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

REZI has been the topic of a number of research reports. Zacks Investment Research lowered shares of Resideo Technologies from a “hold” rating to a “sell” rating in a report on Saturday, October 26th. Imperial Capital reduced their target price on shares of Resideo Technologies from $25.00 to $12.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Bank of America lowered shares of Resideo Technologies from a “buy” rating to a “neutral” rating in a report on Wednesday, October 23rd. ValuEngine raised shares of Resideo Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Finally, Oppenheimer lowered shares of Resideo Technologies from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $20.00.

The stock has a market cap of $1.08 billion and a price-to-earnings ratio of 4.17. The company has a current ratio of 1.19, a quick ratio of 0.72 and a debt-to-equity ratio of 0.74. The stock’s 50-day moving average price is $12.06 and its 200-day moving average price is $17.15.

Resideo Technologies (NYSE:REZI) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.04). The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. Resideo Technologies had a return on equity of 7.63% and a net margin of 1.23%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.53 EPS. As a group, analysts predict that Resideo Technologies Inc will post 0.85 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Retirement Systems of Alabama lifted its position in shares of Resideo Technologies by 4.5% in the 2nd quarter. Retirement Systems of Alabama now owns 376,249 shares of the company’s stock worth $8,247,000 after purchasing an additional 16,192 shares during the period. Coastal Investment Advisors Inc. lifted its position in shares of Resideo Technologies by 209.8% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 3,398 shares of the company’s stock worth $69,000 after purchasing an additional 2,301 shares during the period. Wells Fargo & Company MN lifted its position in shares of Resideo Technologies by 35.2% in the 2nd quarter. Wells Fargo & Company MN now owns 306,840 shares of the company’s stock worth $6,726,000 after purchasing an additional 79,810 shares during the period. Gabelli Funds LLC lifted its position in shares of Resideo Technologies by 3.1% in the 2nd quarter. Gabelli Funds LLC now owns 426,888 shares of the company’s stock worth $9,357,000 after purchasing an additional 13,000 shares during the period. Finally, Investec Asset Management LTD lifted its position in shares of Resideo Technologies by 37.6% in the 2nd quarter. Investec Asset Management LTD now owns 4,328,366 shares of the company’s stock worth $94,878,000 after purchasing an additional 1,182,110 shares during the period. Hedge funds and other institutional investors own 79.25% of the company’s stock.

About Resideo Technologies (NYSE:REZI)

Resideo Technologies, Inc provides critical comfort, thermal, and security solutions primarily in residential environments in the United States, Europe, and internationally. The company operates in two segments, Products and Solutions, and Global Distribution. It offers home products, services, and technologies, including temperature and humidity control, water, air, remote patient monitoring software, and software solutions; and residential thermal solutions, such as boiler products, storage gas water heating solutions, ducted solutions, and thermal adjacency solutions.

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