Hudson Bay Capital Management LP Makes New Investment in Resideo Technologies, Inc. $REZI

Hudson Bay Capital Management LP bought a new stake in shares of Resideo Technologies, Inc. (NYSE:REZI) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 69,985 shares of the company’s stock, valued at approximately $3,022,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its stake in shares of Resideo Technologies by 108.3% during the second quarter. Russell Investments Group Ltd. now owns 140,886 shares of the company’s stock valued at $3,108,000 after purchasing an additional 73,261 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Resideo Technologies by 274.7% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 83,892 shares of the company’s stock worth $3,622,000 after buying an additional 61,504 shares during the period. Clayton Dubilier & Rice LLC lifted its holdings in Resideo Technologies by 130.3% during the 3rd quarter. Clayton Dubilier & Rice LLC now owns 13,286,384 shares of the company’s stock valued at $573,706,000 after buying an additional 7,516,233 shares in the last quarter. Seizert Capital Partners LLC purchased a new stake in Resideo Technologies in the 3rd quarter valued at about $2,696,000. Finally, Alpha Wave Global LP purchased a new stake in Resideo Technologies in the 3rd quarter valued at about $8,811,000. 91.71% of the stock is currently owned by hedge funds and other institutional investors.

Resideo Technologies Price Performance

Shares of REZI opened at $32.75 on Friday. The company has a 50 day moving average of $35.93 and a two-hundred day moving average of $36.82. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.30. Resideo Technologies, Inc. has a twelve month low of $14.18 and a twelve month high of $45.29. The company has a market cap of $4.95 billion, a price-to-earnings ratio of -8.13 and a beta of 1.71.

Analyst Ratings Changes

A number of equities analysts have commented on REZI shares. Morgan Stanley upped their target price on shares of Resideo Technologies from $42.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Resideo Technologies in a report on Thursday, January 22nd. Finally, Oppenheimer reissued an “outperform” rating on shares of Resideo Technologies in a research note on Friday, March 13th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $39.67.

About Resideo Technologies

Resideo Technologies, Inc, headquartered in Austin, Texas, is a global provider of home comfort, security and energy management solutions. Formed as an independent company in 2018 following its spin-off from Honeywell, Resideo leverages decades of engineering experience to deliver connected products and services to residential and light commercial customers.

The company’s core offerings include smart thermostats, security systems, video doorbells, water leak and freeze detection devices, and indoor air quality monitors.