Pollock Investment Advisors LLC Invests $102,000 in SmartRent, Inc. (NYSE:SMRT)

Pollock Investment Advisors LLC acquired a new position in shares of SmartRent, Inc. (NYSE:SMRT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 58,330 shares of the company’s stock, valued at approximately $102,000.

Several other large investors have also bought and sold shares of the business. Virtu Financial LLC bought a new position in shares of SmartRent in the third quarter worth about $26,000. Avior Wealth Management LLC bought a new stake in shares of SmartRent during the 4th quarter valued at approximately $31,000. SteelPeak Wealth LLC acquired a new position in SmartRent during the 4th quarter worth approximately $34,000. Paloma Partners Management Co bought a new position in SmartRent in the 3rd quarter valued at approximately $47,000. Finally, Catalyst Funds Management Pty Ltd acquired a new stake in SmartRent in the fourth quarter valued at approximately $49,000. 59.42% of the stock is owned by institutional investors and hedge funds.

SmartRent Price Performance

SmartRent stock opened at $1.19 on Friday. The business has a 50 day moving average of $1.45 and a 200-day moving average of $1.61. The company has a market capitalization of $228.35 million, a P/E ratio of -9.12 and a beta of 1.92. SmartRent, Inc. has a 1 year low of $1.07 and a 1 year high of $2.98.

SmartRent (NYSE:SMRT) last announced its quarterly earnings results on Wednesday, March 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.04). The business had revenue of $35.37 million during the quarter, compared to analyst estimates of $37.78 million. SmartRent had a negative net margin of 12.77% and a negative return on equity of 6.08%. The company’s revenue was down 41.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.02) earnings per share. Equities analysts anticipate that SmartRent, Inc. will post -0.14 EPS for the current year.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lowered their price target on shares of SmartRent from $2.00 to $1.60 and set a “market perform” rating for the company in a report on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, SmartRent presently has a consensus rating of “Hold” and a consensus price target of $2.40.

Insider Activity at SmartRent

In other news, CEO Michael Shane Paladin purchased 43,859 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were purchased at an average price of $1.14 per share, for a total transaction of $49,999.26. Following the transaction, the chief executive officer now owns 43,859 shares of the company’s stock, valued at approximately $49,999.26. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John C. Dorman acquired 125,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were purchased at an average price of $1.20 per share, with a total value of $150,000.00. Following the completion of the transaction, the director now owns 229,965 shares of the company’s stock, valued at $275,958. This trade represents a 119.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 9.00% of the stock is currently owned by company insiders.

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.