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

SmartRent, Inc. (NYSE:SMRT) CEO Frank Martell bought 124,086 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was purchased at an average price of $1.91 per share, with a total value of $237,004.26. Following the completion of the purchase, the chief executive officer directly 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 purchased at an average price of $1.88 per share, for a total transaction of $188,000.00.
• On Wednesday, December 3rd, Frank Martell acquired 27,722 shares of SmartRent stock. The stock was purchased at an average cost of $1.86 per share, with a total value of $51,562.92.
• On Tuesday, December 2nd, Frank Martell bought 28,846 shares of SmartRent stock. The shares were acquired 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 stock was acquired at an average price of $1.69 per share, for a total transaction of $31,150.08.
• On Friday, November 21st, Frank Martell purchased 56,236 shares of SmartRent stock. The stock was acquired at an average cost of $1.44 per share, with a total value of $80,979.84.
• On Thursday, November 20th, Frank Martell acquired 93,764 shares of SmartRent stock. The shares were acquired at an average price 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 acquired at an average price of $1.53 per share, for a total transaction of $76,500.00.
• On Friday, September 12th, Frank Martell bought 50,000 shares of SmartRent stock. The stock was acquired 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. SmartRent, Inc. has a twelve month low of $0.67 and a twelve month high of $2.14. The company has a market capitalization of $371.59 million, a P/E ratio of -5.46 and a beta of 1.82. The firm has a 50 day simple moving average of $1.50 and a 200-day simple moving average of $1.27.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on SMRT shares. Zacks Research raised shares of SmartRent from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Keefe, Bruyette & Woods increased their target price on SmartRent from $1.30 to $1.45 and gave the stock a “market perform” rating in a report on Tuesday, August 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of SmartRent in a research report on Monday. Finally, Wall Street Zen upgraded SmartRent from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Three 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 stock presently has an average rating of “Reduce” and a consensus target price of $1.45.

Hedge Funds Weigh In On SmartRent

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

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.