Quantbot Technologies LP Buys New Position in SmartRent, Inc. (NYSE:SMRT)

Quantbot Technologies LP bought a new position in SmartRent, Inc. (NYSE:SMRT) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 28,497 shares of the company’s stock, valued at approximately $50,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp grew its stake in shares of SmartRent by 0.4% during the 3rd quarter. State Street Corp now owns 4,206,322 shares of the company’s stock valued at $7,277,000 after acquiring an additional 15,642 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of SmartRent by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,515,124 shares of the company’s stock worth $2,621,000 after purchasing an additional 27,662 shares during the period. Royce & Associates LP lifted its stake in shares of SmartRent by 64.2% during the 4th quarter. Royce & Associates LP now owns 1,283,325 shares of the company’s stock valued at $2,246,000 after buying an additional 501,890 shares in the last quarter. Crossingbridge Advisors LLC bought a new position in SmartRent in the 4th quarter worth $569,000. Finally, Jane Street Group LLC increased its stake in SmartRent by 21.9% in the 3rd quarter. Jane Street Group LLC now owns 310,672 shares of the company’s stock worth $537,000 after buying an additional 55,809 shares in the last quarter. Hedge funds and other institutional investors own 59.42% of the company’s stock.

SmartRent Stock Performance

SMRT opened at $1.16 on Wednesday. The stock has a market capitalization of $222.57 million, a price-to-earnings ratio of -8.88 and a beta of 1.92. The company has a fifty day moving average of $1.33 and a 200 day moving average of $1.56. SmartRent, Inc. has a fifty-two week low of $1.07 and a fifty-two week high of $2.98.

SmartRent (NYSE:SMRT) last issued its quarterly earnings data on Wednesday, March 5th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). The firm had revenue of $35.37 million for the quarter, compared to analysts’ expectations of $37.78 million. SmartRent had a negative net margin of 12.77% and a negative return on equity of 6.08%. The company’s revenue for the quarter was down 41.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.02) EPS. On average, equities research analysts forecast that SmartRent, Inc. will post -0.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Michael Shane Paladin purchased 43,859 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $1.14 per share, with a total value of $49,999.26. Following the purchase, the chief executive officer now owns 43,859 shares in the company, valued at approximately $49,999.26. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John C. Dorman acquired 125,000 shares of the business’s stock in a transaction on Monday, March 10th. The stock was acquired at an average cost of $1.20 per share, for a total transaction of $150,000.00. Following the transaction, the director now directly owns 229,965 shares in the company, valued at $275,958. The trade was a 119.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 9.00% of the company’s stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lowered their price objective on SmartRent from $2.00 to $1.60 and set a “market perform” rating on the stock in a research report on Thursday, March 6th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, SmartRent has a consensus rating of “Hold” and a consensus target price of $2.40.

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.