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

SmartRent, Inc. (NYSE:SMRT) CEO Frank Martell acquired 100,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was purchased at an average cost of $1.88 per share, with a total value of $188,000.00. Following the transaction, the chief executive officer owned 1,323,204 shares of the company’s stock, valued at approximately $2,487,623.52. The trade was a 8.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Friday, December 5th, Frank Martell purchased 124,086 shares of SmartRent stock. The stock was acquired at an average price of $1.91 per share, with a total value of $237,004.26.
• On Wednesday, December 3rd, Frank Martell acquired 27,722 shares of SmartRent stock. The shares were bought at an average price of $1.86 per share, for a total transaction of $51,562.92.
• On Tuesday, December 2nd, Frank Martell bought 28,846 shares of SmartRent stock. The stock was bought at an average price of $1.69 per share, with a total value of $48,749.74.
• On Monday, December 1st, Frank Martell purchased 18,432 shares of SmartRent stock. The shares were bought at an average cost of $1.69 per share, with a total value of $31,150.08.
• On Friday, November 21st, Frank Martell purchased 56,236 shares of SmartRent stock. The stock was bought at an average price of $1.44 per share, for a total transaction of $80,979.84.
• On Thursday, November 20th, Frank Martell acquired 93,764 shares of SmartRent stock. The shares were bought at an average cost of $1.47 per share, with a total value of $137,833.08.
• On Monday, September 15th, Frank Martell acquired 50,000 shares of SmartRent stock. The shares were purchased at an average price of $1.53 per share, with a total value of $76,500.00.
• On Friday, September 12th, Frank Martell bought 50,000 shares of SmartRent stock. The stock was purchased at an average cost of $1.44 per share, for a total transaction of $72,000.00.

SmartRent Trading Up 4.5%

SMRT stock opened at $1.96 on Friday. The company has a market cap of $371.59 million, a PE ratio of -5.46 and a beta of 1.82. The stock has a 50-day moving average price of $1.50 and a two-hundred day moving average price of $1.27. SmartRent, Inc. has a 12-month low of $0.67 and a 12-month high of $2.14.

SmartRent (NYSE:SMRT) last issued its earnings results on Wednesday, November 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. The business had revenue of $36.20 million during the quarter, compared to analysts’ expectations of $36.27 million. SmartRent had a negative return on equity of 15.10% and a negative net margin of 45.45%. Equities analysts forecast that SmartRent, Inc. will post -0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On SmartRent

Hedge funds and other institutional investors have recently made changes to their positions in the business. Citigroup Inc. increased its position in SmartRent by 33.3% in the 3rd quarter. Citigroup Inc. now owns 15,671,673 shares of the company’s stock valued at $22,097,000 after acquiring an additional 3,915,817 shares in the last quarter. UBS Group AG grew its stake 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 purchasing an additional 2,335,454 shares during the last quarter. Millennium Management LLC increased its holdings in shares of SmartRent by 24.7% in the third quarter. Millennium Management LLC now owns 3,646,341 shares of the company’s stock valued at $5,141,000 after purchasing an additional 721,846 shares in the last quarter. Mak Capital One LLC bought a new position in SmartRent in the 3rd quarter worth approximately $4,038,000. Finally, Marshall Wace LLP raised its position in SmartRent by 230.4% in the 2nd quarter. Marshall Wace LLP now owns 2,657,531 shares of the company’s stock worth $2,631,000 after purchasing an additional 1,853,247 shares during the last quarter. 59.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Keefe, Bruyette & Woods boosted 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. Zacks Research upgraded SmartRent from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Weiss Ratings restated a “sell (e+)” rating on shares of SmartRent in a research note on Monday. Finally, Wall Street Zen raised shares of SmartRent from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $1.45.

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.