The Manufacturers Life Insurance Company Has $184,000 Stock Holdings in SmartRent, Inc. (NYSE:SMRT)

The Manufacturers Life Insurance Company lifted its position in shares of SmartRent, Inc. (NYSE:SMRT) by 12.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 76,918 shares of the company’s stock after buying an additional 8,532 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in SmartRent were worth $184,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rhumbline Advisers boosted its position in SmartRent by 2.9% during the 2nd quarter. Rhumbline Advisers now owns 273,810 shares of the company’s stock worth $654,000 after buying an additional 7,597 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of SmartRent by 18.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 53,177 shares of the company’s stock worth $143,000 after purchasing an additional 8,169 shares during the period. Virtu Financial LLC bought a new position in SmartRent during the 1st quarter worth $84,000. American Century Companies Inc. raised its position in SmartRent by 15.6% during the 2nd quarter. American Century Companies Inc. now owns 247,379 shares of the company’s stock worth $591,000 after purchasing an additional 33,291 shares during the last quarter. Finally, Legacy Capital Group California Inc. lifted its holdings in SmartRent by 104.3% during the 2nd quarter. Legacy Capital Group California Inc. now owns 70,750 shares of the company’s stock worth $169,000 after buying an additional 36,123 shares during the period. Institutional investors and hedge funds own 59.42% of the company’s stock.

Insiders Place Their Bets

In related news, CMO Robyn Young acquired 14,793 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were 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 of the company’s stock, valued at approximately $88,918.50. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Frank Martell bought 75,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average cost of $1.63 per share, for a total transaction of $122,250.00. Following the acquisition, the director now directly owns 150,000 shares in the company, valued at approximately $244,500. This trade represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Robyn Young purchased 14,793 shares of SmartRent stock in a transaction that occurred on Friday, August 30th. The stock was acquired at an average cost of $1.70 per share, with a total value of $25,148.10. Following the transaction, the chief marketing officer now owns 52,305 shares in the company, valued at $88,918.50. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 9.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

SmartRent Stock Performance

Shares of SMRT stock opened at $1.75 on Friday. SmartRent, Inc. has a fifty-two week low of $1.35 and a fifty-two week high of $3.47. The stock has a 50 day simple moving average of $1.68 and a two-hundred day simple moving average of $2.12. The company has a market cap of $353.20 million, a P/E ratio of -11.67 and a beta of 1.97.

SmartRent (NYSE:SMRT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $51.33 million. During the same period last year, the business earned ($0.05) EPS. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. On average, research analysts predict that SmartRent, Inc. will post -0.09 earnings per share for the current year.

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.