SmartRent, Inc. (NYSE:SMRT) Shares Sold by Old West Investment Management LLC

Old West Investment Management LLC decreased its position in SmartRent, Inc. (NYSE:SMRT) by 78.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,000,000 shares of the company’s stock after selling 3,676,165 shares during the quarter. Old West Investment Management LLC owned about 0.52% of SmartRent worth $1,730,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in SmartRent by 18.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 53,177 shares of the company’s stock worth $143,000 after buying an additional 8,169 shares during the last quarter. Legacy Capital Group California Inc. grew its holdings in shares of SmartRent by 104.3% in the 2nd quarter. Legacy Capital Group California Inc. now owns 70,750 shares of the company’s stock worth $169,000 after acquiring an additional 36,123 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of SmartRent by 14.2% during the second quarter. Bank of New York Mellon Corp now owns 707,056 shares of the company’s stock worth $1,690,000 after purchasing an additional 87,728 shares during the period. Rhumbline Advisers lifted its holdings in shares of SmartRent by 2.9% during the second quarter. Rhumbline Advisers now owns 273,810 shares of the company’s stock valued at $654,000 after purchasing an additional 7,597 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of SmartRent by 15.6% in the 2nd quarter. American Century Companies Inc. now owns 247,379 shares of the company’s stock valued at $591,000 after purchasing an additional 33,291 shares during the period. Institutional investors own 59.42% of the company’s stock.

SmartRent Price Performance

SMRT stock opened at $1.83 on Wednesday. The firm has a market capitalization of $351.44 million, a P/E ratio of -14.04 and a beta of 1.96. SmartRent, Inc. has a 52-week low of $1.17 and a 52-week high of $3.47. The company’s 50 day simple moving average is $1.68 and its 200-day simple moving average is $1.91.

SmartRent (NYSE:SMRT) last released its earnings results on Wednesday, November 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The business had revenue of $40.50 million during the quarter, compared to analysts’ expectations of $45.94 million. SmartRent had a negative net margin of 12.77% and a negative return on equity of 6.08%. SmartRent’s revenue for the quarter was down 30.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.04) EPS. Sell-side analysts predict that SmartRent, Inc. will post -0.14 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Frank Martell acquired 48,204 shares of the company’s stock in a transaction on Monday, November 18th. The shares were purchased at an average price of $1.45 per share, for a total transaction of $69,895.80. Following the purchase, the director now owns 248,204 shares in the company, valued at $359,895.80. This represents a 24.10 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 9.00% of the company’s stock.

SmartRent 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.