Intech Investment Management LLC acquired a new stake in SmartRent, Inc. (NYSE:SMRT – Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 60,995 shares of the company’s stock, valued at approximately $106,000.
A number of other hedge funds also recently bought and sold shares of SMRT. Price T Rowe Associates Inc. MD raised its holdings in SmartRent by 18.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 53,177 shares of the company’s stock valued at $143,000 after acquiring an additional 8,169 shares during the last quarter. Legacy Capital Group California Inc. raised its holdings in SmartRent by 104.3% in the 2nd quarter. Legacy Capital Group California Inc. now owns 70,750 shares of the company’s stock valued at $169,000 after acquiring an additional 36,123 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in SmartRent by 14.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 707,056 shares of the company’s stock valued at $1,690,000 after acquiring an additional 87,728 shares during the last quarter. Rhumbline Advisers raised its holdings in SmartRent by 2.9% in the 2nd quarter. Rhumbline Advisers now owns 273,810 shares of the company’s stock valued at $654,000 after acquiring an additional 7,597 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in SmartRent by 15.6% in the 2nd quarter. American Century Companies Inc. now owns 247,379 shares of the company’s stock valued at $591,000 after acquiring an additional 33,291 shares during the last quarter. Institutional investors and hedge funds own 59.42% of the company’s stock.
Insider Activity
In other news, Director Frank Martell purchased 48,204 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was acquired at an average price of $1.45 per share, with a total value of $69,895.80. Following the purchase, the director now directly owns 248,204 shares in the company, valued at approximately $359,895.80. This represents a 24.10 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 9.00% of the company’s stock.
SmartRent Trading Up 2.2 %
SmartRent (NYSE:SMRT – Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). SmartRent had a negative net margin of 12.77% and a negative return on equity of 6.08%. The business had revenue of $40.50 million during the quarter, compared to analyst estimates of $45.94 million. During the same quarter in the previous year, the company posted ($0.04) EPS. The firm’s revenue was down 30.3% on a year-over-year basis. As a group, equities analysts forecast that SmartRent, Inc. will post -0.14 earnings per share for the current 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.
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