SmartRent, Inc. (NYSE:SMRT) CMO Buys $25,148.10 in Stock

SmartRent, Inc. (NYSE:SMRT) CMO Robyn Young acquired 14,793 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was purchased at an average price of $1.70 per share, for a total transaction of $25,148.10. Following the completion of the acquisition, the chief marketing officer now owns 52,305 shares in the company, valued at $88,918.50. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

SmartRent Stock Performance

Shares of NYSE SMRT opened at $1.70 on Friday. SmartRent, Inc. has a fifty-two week low of $1.35 and a fifty-two week high of $3.57. The business has a 50 day moving average price of $2.03 and a two-hundred day moving average price of $2.39.

SmartRent (NYSE:SMRT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). SmartRent had a negative return on equity of 5.68% and a negative net margin of 10.73%. The company had revenue of $48.52 million during the quarter, compared to the consensus estimate of $51.33 million. During the same quarter last year, the firm posted ($0.05) EPS. The firm’s quarterly revenue was down 9.1% on a year-over-year basis. As a group, sell-side analysts expect that SmartRent, Inc. will post -0.09 EPS for the current fiscal year.

Hedge Funds Weigh In On SmartRent

Hedge funds have recently added to or reduced their stakes in the business. Long Pond Capital LP boosted its holdings in shares of SmartRent by 133.1% in the 2nd quarter. Long Pond Capital LP now owns 9,316,093 shares of the company’s stock valued at $22,265,000 after buying an additional 5,320,147 shares during the period. Land & Buildings Investment Management LLC lifted its holdings in SmartRent by 82.0% in the second quarter. Land & Buildings Investment Management LLC now owns 5,658,366 shares of the company’s stock worth $13,523,000 after acquiring an additional 2,549,856 shares during the last quarter. Blue Door Asset Management LLC boosted its stake in SmartRent by 41.6% in the first quarter. Blue Door Asset Management LLC now owns 4,424,864 shares of the company’s stock valued at $11,859,000 after acquiring an additional 1,299,283 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of SmartRent by 16.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,248,368 shares of the company’s stock valued at $7,763,000 after purchasing an additional 468,619 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in shares of SmartRent by 67.2% in the 4th quarter. First Eagle Investment Management LLC now owns 1,003,680 shares of the company’s stock worth $3,202,000 after purchasing an additional 403,449 shares during the last quarter. Institutional investors and hedge funds own 59.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SMRT shares. Cantor Fitzgerald lowered shares of SmartRent from an “overweight” rating to a “neutral” rating and cut their price target for the company from $4.00 to $2.00 in a report on Thursday, August 8th. BTIG Research lowered shares of SmartRent from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Colliers Securities downgraded SmartRent from a “buy” rating to a “neutral” rating in a report on Wednesday, July 31st. DA Davidson cut SmartRent from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $3.25 to $2.00 in a research note on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods lowered SmartRent from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $3.50 to $2.00 in a research note on Thursday, August 8th. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat, SmartRent currently has a consensus rating of “Hold” and an average price target of $2.64.

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.