SmartRent, Inc. $SMRT Shares Bought by Citigroup Inc.

Citigroup Inc. grew its stake in SmartRent, Inc. (NYSE:SMRT) by 33.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,671,673 shares of the company’s stock after purchasing an additional 3,915,817 shares during the quarter. Citigroup Inc. owned approximately 0.08% of SmartRent worth $22,097,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Marshall Wace LLP increased its stake in SmartRent by 230.4% during the 2nd quarter. Marshall Wace LLP now owns 2,657,531 shares of the company’s stock worth $2,631,000 after buying an additional 1,853,247 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of SmartRent by 430.2% in the second quarter. Jane Street Group LLC now owns 1,596,146 shares of the company’s stock worth $1,580,000 after acquiring an additional 1,295,098 shares during the last quarter. Dimension Capital Management LLC purchased a new stake in shares of SmartRent during the second quarter worth approximately $1,148,000. AQR Capital Management LLC raised its stake in SmartRent by 245.9% in the 1st quarter. AQR Capital Management LLC now owns 973,783 shares of the company’s stock valued at $1,178,000 after purchasing an additional 692,268 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in SmartRent by 81.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 634,066 shares of the company’s stock valued at $767,000 after purchasing an additional 285,478 shares in the last quarter. Institutional investors and hedge funds own 59.42% of the company’s stock.

Insider Activity

In related news, CEO Frank Martell acquired 124,086 shares of the firm’s stock in a transaction dated Friday, December 5th. The shares were purchased at an average cost of $1.91 per share, for a total transaction of $237,004.26. Following the acquisition, the chief executive officer owned 1,447,290 shares in the company, valued at $2,764,323.90. The trade was a 9.38% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas N. Bohjalian acquired 50,000 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were bought at an average cost of $1.68 per share, with a total value of $84,000.00. Following the transaction, the director directly owned 350,000 shares in the company, valued at $588,000. This trade represents a 16.67% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have acquired 424,086 shares of company stock valued at $795,412. 1.90% of the stock is currently owned by insiders.

SmartRent Stock Up 0.3%

Shares of SmartRent stock opened at $1.64 on Friday. The firm has a market cap of $309.34 million, a PE ratio of -4.54 and a beta of 1.79. SmartRent, Inc. has a 52 week low of $0.67 and a 52 week high of $2.20. The business’s fifty day simple moving average is $1.79 and its 200-day simple moving average is $1.63.

Analyst Ratings Changes

SMRT has been the subject of a number of research reports. Zacks Research raised shares of SmartRent from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Wall Street Zen raised shares of SmartRent from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of SmartRent in a report on Monday, December 29th. 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, SmartRent presently has an average rating of “Reduce” and an average price target of $1.45.

About SmartRent

SmartRent Inc is a technology company that develops smart home and smart building automation solutions for the residential rental housing industry. Its integrated hardware and software platform enables property managers and owners to remotely monitor, manage and control access, energy use and overall resident experience. The company’s product portfolio includes smart locks, thermostats, leak and flood sensors, door and window sensors, security cameras, and a centralized management dashboard that interfaces with leading property management systems.

SmartRent’s platform is designed to streamline operations for multifamily communities and single-family rental portfolios by automating routine tasks such as digital resident self-showings, remote lease turnovers, package management and preventative maintenance alerts.