SmartRent, Inc. (NYSE:SMRT) Shares Purchased by Royce & Associates LP

Royce & Associates LP raised its position in SmartRent, Inc. (NYSE:SMRT) by 64.2% in the fourth quarter, Holdings Channel reports. The fund owned 1,283,325 shares of the company’s stock after buying an additional 501,890 shares during the period. Royce & Associates LP’s holdings in SmartRent were worth $2,246,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SMRT. Virtu Financial LLC acquired a new position in SmartRent in the third quarter valued at approximately $26,000. State Street Corp lifted its position in shares of SmartRent by 0.4% during the 3rd quarter. State Street Corp now owns 4,206,322 shares of the company’s stock worth $7,277,000 after buying an additional 15,642 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of SmartRent by 18.6% in the 4th quarter. SG Americas Securities LLC now owns 106,992 shares of the company’s stock valued at $187,000 after buying an additional 16,745 shares in the last quarter. Avior Wealth Management LLC purchased a new position in shares of SmartRent in the 4th quarter valued at $31,000. Finally, SteelPeak Wealth LLC acquired a new stake in SmartRent during the 4th quarter worth $34,000. Institutional investors and hedge funds own 59.42% of the company’s stock.

Insider Buying and Selling

In related news, CEO Michael Shane Paladin purchased 43,859 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $1.14 per share, with a total value of $49,999.26. Following the completion of the acquisition, the chief executive officer now directly owns 43,859 shares in the company, valued at $49,999.26. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John C. Dorman acquired 125,000 shares of the company’s stock in a transaction on Monday, March 10th. The stock was purchased at an average cost of $1.20 per share, for a total transaction of $150,000.00. Following the completion of the purchase, the director now directly owns 229,965 shares in the company, valued at $275,958. This trade represents a 119.09 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 9.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods decreased their price objective on shares of SmartRent from $2.00 to $1.60 and set a “market perform” rating for the company in a research note on Thursday, March 6th. Five analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $2.40.

SmartRent Trading Up 0.4 %

SMRT stock opened at $1.19 on Friday. The company has a market capitalization of $228.35 million, a P/E ratio of -9.12 and a beta of 1.92. The business has a 50 day simple moving average of $1.40 and a 200-day simple moving average of $1.59. SmartRent, Inc. has a twelve month low of $1.07 and a twelve month high of $2.98.

SmartRent (NYSE:SMRT) last issued its quarterly earnings results on Wednesday, March 5th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). The business had revenue of $35.37 million for the quarter, compared to analyst estimates of $37.78 million. SmartRent had a negative return on equity of 6.08% and a negative net margin of 12.77%. The firm’s revenue for the quarter was down 41.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.02) EPS. Research analysts predict that SmartRent, Inc. will post -0.14 EPS for the current fiscal year.

SmartRent Company Profile

SmartRent, Inc, an enterprise software company, provides an integrated smart home operating system to residential property owners and operators, homebuilders, institutional home buyers, developers, and residents in the United States. The company’s products and solutions include smart apartments and homes, access control for buildings, common areas, and rental units, asset protection and monitoring, parking management, self-guided tours, and community and resident Wi-Fi.