SmartRent (NYSE:SMRT) CEO Acquires $51,750.00 in Stock

SmartRent, Inc. (NYSE:SMRT) CEO Frank Martell purchased 25,000 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were acquired at an average price of $2.07 per share, for a total transaction of $51,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,038,796 shares of the company’s stock, valued at $4,220,307.72. The trade was a 1.24% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Frank Martell also recently made the following trade(s):

• On Friday, December 5th, Frank Martell acquired 124,086 shares of SmartRent stock. The stock was acquired at an average price of $1.91 per share, with a total value of $237,004.26.
• On Thursday, December 4th, Frank Martell bought 100,000 shares of SmartRent stock. The stock was acquired at an average cost of $1.88 per share, for a total transaction of $188,000.00.
• On Wednesday, December 3rd, Frank Martell purchased 27,722 shares of SmartRent stock. The stock was bought at an average price of $1.86 per share, with a total value of $51,562.92.
• On Tuesday, December 2nd, Frank Martell purchased 28,846 shares of SmartRent stock. The stock was bought at an average cost of $1.69 per share, with a total value of $48,749.74.
• On Monday, December 1st, Frank Martell acquired 18,432 shares of SmartRent stock. The shares were bought at an average cost of $1.69 per share, for a total transaction of $31,150.08.
• On Friday, November 21st, Frank Martell bought 56,236 shares of SmartRent stock. The stock was bought at an average price of $1.44 per share, with a total value of $80,979.84.
• On Thursday, November 20th, Frank Martell bought 93,764 shares of SmartRent stock. The stock was bought at an average cost of $1.47 per share, with a total value of $137,833.08.
• On Monday, September 15th, Frank Martell purchased 50,000 shares of SmartRent stock. The shares were bought at an average price of $1.53 per share, for a total transaction of $76,500.00.

SmartRent Trading Up 1.2%

Shares of SMRT opened at $2.07 on Monday. SmartRent, Inc. has a 12-month low of $0.67 and a 12-month high of $2.15. The firm has a market capitalization of $390.70 million, a P/E ratio of -5.74 and a beta of 1.81. The firm has a 50-day moving average price of $1.56 and a 200 day moving average price of $1.32.

SmartRent (NYSE:SMRT) last posted its earnings results on Wednesday, November 5th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.03. SmartRent had a negative net margin of 45.45% and a negative return on equity of 15.10%. The company had revenue of $36.20 million for the quarter, compared to analyst estimates of $36.27 million. Equities research analysts predict that SmartRent, Inc. will post -0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SmartRent

A number of institutional investors have recently modified their holdings of the company. Citigroup Inc. grew its holdings in shares of SmartRent by 33.3% in the third quarter. Citigroup Inc. now owns 15,671,673 shares of the company’s stock valued at $22,097,000 after purchasing an additional 3,915,817 shares in the last quarter. Mak Capital One LLC acquired a new stake in SmartRent during the 3rd quarter worth approximately $4,038,000. Northern Right Capital Management L.P. purchased a new position in SmartRent in the 3rd quarter valued at approximately $3,739,000. UBS Group AG grew its stake in shares of SmartRent by 28.8% in the third quarter. UBS Group AG now owns 10,448,199 shares of the company’s stock worth $14,732,000 after acquiring an additional 2,335,454 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of SmartRent by 230.4% in the second quarter. Marshall Wace LLP now owns 2,657,531 shares of the company’s stock worth $2,631,000 after acquiring an additional 1,853,247 shares in the last quarter. 59.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SMRT has been the subject of several analyst reports. Wall Street Zen upgraded SmartRent from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Zacks Research upgraded SmartRent from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of SmartRent in a report on Monday, December 1st. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $1.45.

About SmartRent

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.