Frank Martell Acquires 124,086 Shares of SmartRent (NYSE:SMRT) Stock

SmartRent, Inc. (NYSE:SMRT) CEO Frank Martell acquired 124,086 shares of SmartRent stock in a transaction on Friday, December 5th. The shares were bought at an average cost of $1.91 per share, with a total value of $237,004.26. Following the completion of the transaction, the chief executive officer owned 1,447,290 shares of the company’s stock, valued at approximately $2,764,323.90. This trade represents a 9.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Frank Martell also recently made the following trade(s):

• On Thursday, December 4th, Frank Martell acquired 100,000 shares of SmartRent stock. The stock was bought at an average cost of $1.88 per share, for a total transaction of $188,000.00.
• On Wednesday, December 3rd, Frank Martell bought 27,722 shares of SmartRent stock. The shares were bought at an average cost of $1.86 per share, with a total value of $51,562.92.
• On Tuesday, December 2nd, Frank Martell purchased 28,846 shares of SmartRent stock. The stock was bought at an average price of $1.69 per share, for a total transaction of $48,749.74.
• On Monday, December 1st, Frank Martell purchased 18,432 shares of SmartRent stock. The stock was bought at an average cost of $1.69 per share, for a total transaction of $31,150.08.
• On Friday, November 21st, Frank Martell acquired 56,236 shares of SmartRent stock. The shares were purchased at an average price of $1.44 per share, with a total value of $80,979.84.
• On Thursday, November 20th, Frank Martell bought 93,764 shares of SmartRent stock. The stock was purchased at an average cost of $1.47 per share, for a total transaction of $137,833.08.
• On Monday, September 15th, Frank Martell bought 50,000 shares of SmartRent stock. The shares were purchased at an average price of $1.53 per share, for a total transaction of $76,500.00.
• On Friday, September 12th, Frank Martell purchased 50,000 shares of SmartRent stock. The shares were purchased at an average cost of $1.44 per share, with a total value of $72,000.00.

SmartRent Price Performance

SMRT traded up $0.08 during trading on Friday, hitting $1.96. The stock had a trading volume of 2,582,769 shares, compared to its average volume of 1,633,981. The company has a 50 day moving average price of $1.49 and a 200-day moving average price of $1.27. SmartRent, Inc. has a one year low of $0.67 and a one year high of $2.14. The firm has a market cap of $371.59 million, a price-to-earnings ratio of -5.46 and a beta of 1.82.

SmartRent (NYSE:SMRT) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.03. SmartRent had a negative return on equity of 15.10% and a negative net margin of 45.45%.The firm had revenue of $36.20 million for the quarter, compared to analysts’ expectations of $36.27 million. As a group, sell-side analysts predict that SmartRent, Inc. will post -0.14 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of SmartRent in a research note on Monday. Wall Street Zen upgraded shares of SmartRent from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Zacks Research raised SmartRent from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, Keefe, Bruyette & Woods raised their price objective on SmartRent from $1.30 to $1.45 and gave the stock a “market perform” rating in a research note on Tuesday, August 12th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $1.45.

Hedge Funds Weigh In On SmartRent

Hedge funds have recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. raised its position in shares of SmartRent by 242.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,160,066 shares of the company’s stock valued at $3,046,000 after buying an additional 1,529,677 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in SmartRent by 176.1% in the third quarter. Qube Research & Technologies Ltd now owns 119,240 shares of the company’s stock valued at $168,000 after acquiring an additional 76,046 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in SmartRent by 23.7% during the third quarter. Public Employees Retirement System of Ohio now owns 177,733 shares of the company’s stock valued at $251,000 after purchasing an additional 34,053 shares in the last quarter. Northern Right Capital Management L.P. bought a new stake in SmartRent during the third quarter worth $3,739,000. Finally, Mak Capital One LLC acquired a new stake in shares of SmartRent in the 3rd quarter valued at $4,038,000. 59.42% of the stock is owned by institutional investors.

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.