New York State Common Retirement Fund Has $200,000 Stake in Smith Micro Software, Inc. (NASDAQ:SMSI)

New York State Common Retirement Fund increased its position in shares of Smith Micro Software, Inc. (NASDAQ:SMSI) by 150.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 38,354 shares of the software maker’s stock after purchasing an additional 23,054 shares during the period. New York State Common Retirement Fund’s holdings in Smith Micro Software were worth $200,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Eidelman Virant Capital increased its holdings in Smith Micro Software by 236.7% during the second quarter. Eidelman Virant Capital now owns 202,000 shares of the software maker’s stock worth $1,060,000 after buying an additional 142,000 shares during the last quarter. Virtu Financial LLC acquired a new position in Smith Micro Software during the first quarter worth $89,000. Dimensional Fund Advisors LP increased its holdings in Smith Micro Software by 254.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 79,465 shares of the software maker’s stock worth $431,000 after buying an additional 57,054 shares during the last quarter. PDT Partners LLC acquired a new position in Smith Micro Software during the first quarter worth $103,000. Finally, Black Maple Capital Management LP acquired a new position in Smith Micro Software during the first quarter worth $358,000. Institutional investors and hedge funds own 35.78% of the company’s stock.

In other news, CEO William W. Smith, Jr. sold 537,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 31st. The stock was sold at an average price of $4.65, for a total value of $2,497,050.00. Following the completion of the transaction, the chief executive officer now owns 3,942,451 shares of the company’s stock, valued at $18,332,397.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas G. Campbell sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 8th. The shares were sold at an average price of $4.84, for a total value of $96,800.00. Following the completion of the transaction, the director now directly owns 37,000 shares of the company’s stock, valued at approximately $179,080. The disclosure for this sale can be found here. 14.42% of the stock is currently owned by insiders.

SMSI has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Smith Micro Software from a “sell” rating to a “hold” rating in a report on Wednesday, September 1st. Dawson James assumed coverage on shares of Smith Micro Software in a research report on Thursday, August 5th. They set a “buy” rating and a $11.10 price objective for the company. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $9.65.

SMSI stock opened at $4.57 on Tuesday. The company’s 50-day simple moving average is $5.09 and its 200 day simple moving average is $5.38. Smith Micro Software, Inc. has a 52 week low of $3.50 and a 52 week high of $8.05. The company has a market capitalization of $244.71 million, a PE ratio of -28.56 and a beta of 0.73.

Smith Micro Software (NASDAQ:SMSI) last released its quarterly earnings results on Wednesday, August 4th. The software maker reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. Smith Micro Software had a negative net margin of 14.69% and a negative return on equity of 0.36%. The business had revenue of $15.92 million for the quarter, compared to the consensus estimate of $15.46 million. On average, equities research analysts anticipate that Smith Micro Software, Inc. will post -0.06 earnings per share for the current fiscal year.

Smith Micro Software Profile

Smith Micro Software, Inc engages in the provision of software solutions. It operates through Wireless segment. The Wireless segment refers to wireless internet solutions to access information and entertainment anytime and anywhere. Its products include SafePath Family, SafePath IoT, SafePath Home, CommSuite VVM, CommSuite VTT, and ViewSpot.

Further Reading: Stocks Increasing Dividends

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Institutional Ownership by Quarter for Smith Micro Software (NASDAQ:SMSI)

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