SmartRent, Inc. (NYSE:SMRT) Shares Acquired by Royce & Associates LP

Royce & Associates LP lifted its stake in SmartRent, Inc. (NYSE:SMRT) by 64.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,283,325 shares of the company’s stock after purchasing an additional 501,890 shares during the quarter. Royce & Associates LP owned about 0.67% of SmartRent worth $2,246,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Pollock Investment Advisors LLC acquired a new stake in shares of SmartRent in the 4th quarter worth $102,000. Catalyst Funds Management Pty Ltd acquired a new stake in SmartRent during the fourth quarter worth about $49,000. Crossingbridge Advisors LLC purchased a new position in SmartRent during the fourth quarter worth about $569,000. SteelPeak Wealth LLC acquired a new position in SmartRent in the 4th quarter valued at about $34,000. Finally, Avior Wealth Management LLC purchased a new stake in shares of SmartRent in the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 59.42% of the company’s stock.

Insider Transactions at SmartRent

In other SmartRent news, Director John C. Dorman purchased 125,000 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was bought at an average price of $1.20 per share, with a total value of $150,000.00. Following the transaction, the director now directly owns 229,965 shares of the company’s stock, valued at approximately $275,958. This represents a 119.09 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Shane Paladin purchased 43,859 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $1.14 per share, with a total value of $49,999.26. Following the purchase, the chief executive officer now owns 43,859 shares of the company’s stock, valued at approximately $49,999.26. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 9.00% of the company’s stock.

Wall Street Analyst Weigh In

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

SmartRent Price Performance

NYSE SMRT opened at $1.19 on Friday. SmartRent, Inc. has a 12 month low of $1.07 and a 12 month high of $2.98. The stock has a market capitalization of $228.35 million, a P/E ratio of -9.12 and a beta of 1.92. The firm’s 50-day moving average is $1.40 and its two-hundred day moving average is $1.59.

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

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.