Frank Martell Buys 100,000 Shares of SmartRent (NYSE:SMRT) Stock

SmartRent, Inc. (NYSE:SMRT) CEO Frank Martell bought 100,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was bought at an average price of $1.42 per share, with a total value of $142,000.00. Following the completion of the acquisition, the chief executive officer owned 3,672,086 shares in the company, valued at $5,214,362.12. This represents a 2.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, June 5th, Frank Martell bought 40,260 shares of SmartRent stock. The stock was bought at an average cost of $1.13 per share, with a total value of $45,493.80.
• On Thursday, June 4th, Frank Martell purchased 20,000 shares of SmartRent stock. The shares were bought at an average price of $1.19 per share, for a total transaction of $23,800.00.

SmartRent Trading Up 1.8%

Shares of SMRT stock opened at $1.44 on Thursday. The company’s 50-day moving average price is $1.11 and its 200-day moving average price is $1.36. The stock has a market cap of $274.96 million, a price-to-earnings ratio of -14.35 and a beta of 1.52. SmartRent, Inc. has a twelve month low of $0.91 and a twelve month high of $2.20.

SmartRent (NYSE:SMRT) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). SmartRent had a negative return on equity of 8.50% and a negative net margin of 12.97%.The firm had revenue of $38.39 million for the quarter, compared to analyst estimates of $39.62 million. As a group, equities research analysts predict that SmartRent, Inc. will post -0.1 EPS for the current year.

Wall Street Analyst Weigh In

SMRT has been the subject of a number of recent analyst reports. Weiss Ratings downgraded shares of SmartRent from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, August 6th. Keefe, Bruyette & Woods decreased their price objective on SmartRent from $1.40 to $1.20 and set a “market perform” rating on the stock in a report on Monday, July 13th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $1.20.

Institutional Trading of SmartRent

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE lifted its position in SmartRent by 1,900.9% in the first quarter. Bank of America Corp DE now owns 5,387,342 shares of the company’s stock valued at $8,081,000 after buying an additional 5,118,096 shares during the last quarter. Punch & Associates Investment Management Inc. boosted its stake in SmartRent by 163.9% during the first quarter. Punch & Associates Investment Management Inc. now owns 5,032,880 shares of the company’s stock worth $7,549,000 after buying an additional 3,125,595 shares during the period. Stoic Point Capital Management LLC acquired a new stake in shares of SmartRent during the fourth quarter valued at about $5,022,000. UBS Group AG increased its position in shares of SmartRent by 28.8% during the third quarter. UBS Group AG now owns 10,448,199 shares of the company’s stock valued at $14,732,000 after acquiring an additional 2,335,454 shares during the last quarter. Finally, Kennedy Capital Management LLC acquired a new stake in shares of SmartRent during the fourth quarter valued at about $4,463,000. 59.42% of the stock is owned by institutional investors and hedge funds.

SmartRent Company Profile

SmartRent Inc is a technology company that develops smart home and smart building automation solutions for the residential rental housing industry. Its integrated hardware and software platform enables property managers and owners to remotely monitor, manage and control access, energy use and overall resident experience. The company’s product portfolio includes smart locks, thermostats, leak and flood sensors, door and window sensors, security cameras, and a centralized management dashboard that interfaces with leading property management systems.

SmartRent’s platform is designed to streamline operations for multifamily communities and single-family rental portfolios by automating routine tasks such as digital resident self-showings, remote lease turnovers, package management and preventative maintenance alerts.