Vivint Smart Home (NYSE:VVNT) Shares Up 5.9%

Shares of Vivint Smart Home, Inc. (NYSE:VVNT) shot up 5.9% during trading on Thursday . The company traded as high as $18.10 and last traded at $18.08. 289,744 shares were traded during trading, a decline of 26% from the average session volume of 390,413 shares. The stock had previously closed at $17.08.

A number of research firms have commented on VVNT. Zacks Investment Research downgraded shares of Vivint Smart Home from a “buy” rating to a “sell” rating in a research report on Friday, August 14th. JPMorgan Chase & Co. restated a “buy” rating on shares of Vivint Smart Home in a research report on Thursday, August 13th. Morgan Stanley assumed coverage on shares of Vivint Smart Home in a report on Tuesday, August 11th. They issued an “equal weight” rating and a $19.00 target price on the stock. Finally, Deutsche Bank upgraded shares of Vivint Smart Home from a “hold” rating to a “buy” rating and boosted their target price for the stock from $15.00 to $20.00 in a report on Wednesday, September 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $17.63.

The company has a market cap of $3.36 billion, a P/E ratio of 124.43 and a beta of 0.39. The firm’s 50 day moving average price is $17.46 and its 200-day moving average price is $14.61.

Vivint Smart Home (NYSE:VVNT) last issued its earnings results on Thursday, August 6th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.08. The business had revenue of $306.00 million during the quarter, compared to the consensus estimate of $307.14 million. Equities analysts expect that Vivint Smart Home, Inc. will post -2.43 EPS for the current year.

In other Vivint Smart Home news, CEO Todd R. Pedersen bought 20,959 shares of Vivint Smart Home stock in a transaction dated Wednesday, August 12th. The shares were bought at an average price of $17.64 per share, with a total value of $369,716.76. Following the purchase, the chief executive officer now owns 103,176 shares of the company’s stock, valued at $1,820,024.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.60% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. Morgan Stanley purchased a new position in shares of Vivint Smart Home in the 1st quarter valued at $40,000. Citigroup Inc. acquired a new stake in shares of Vivint Smart Home in the 1st quarter worth approximately $45,000. Bank of Montreal Can acquired a new stake in shares of Vivint Smart Home in the 2nd quarter worth approximately $89,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Vivint Smart Home in the 2nd quarter worth approximately $107,000. Finally, Sei Investments Co. acquired a new stake in shares of Vivint Smart Home in the 2nd quarter worth approximately $252,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Vivint Smart Home Company Profile (NYSE:VVNT)

Vivint Smart Home, Inc, together with its subsidiaries, engages in the sale, installation, servicing, and monitoring of smart home and security systems primarily in the United States and Canada. The company's smart home platform includes smart home operating system; Vivint Assist, an AI-driven smart home automation and assistance software; internally developed smart devices; and extensible partner-neutral ecosystem.

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