SmartRent, Inc. (NYSE:SMRT) CEO Michael Shane Paladin Acquires 43,859 Shares

SmartRent, Inc. (NYSE:SMRT) CEO Michael Shane Paladin acquired 43,859 shares of the stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $1.14 per share, with a total value of $49,999.26. Following the transaction, the chief executive officer now directly owns 43,859 shares of the company’s stock, valued at approximately $49,999.26. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

SmartRent Price Performance

NYSE SMRT opened at $1.09 on Friday. SmartRent, Inc. has a 1 year low of $1.07 and a 1 year high of $2.98. The stock has a market capitalization of $209.08 million, a PE ratio of -8.35 and a beta of 1.92. The business’s 50-day moving average is $1.46 and its 200 day moving average is $1.61.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SMRT. Price T Rowe Associates Inc. MD lifted its position in shares of SmartRent by 15.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 71,641 shares of the company’s stock worth $126,000 after purchasing an additional 9,827 shares during the period. MetLife Investment Management LLC raised its stake in SmartRent by 20.6% in the fourth quarter. MetLife Investment Management LLC now owns 87,149 shares of the company’s stock worth $153,000 after buying an additional 14,879 shares in the last quarter. Virtu Financial LLC purchased a new stake in SmartRent in the third quarter worth about $26,000. Dynamic Technology Lab Private Ltd purchased a new stake in SmartRent in the fourth quarter worth about $27,000. Finally, State Street Corp boosted its position in SmartRent by 0.4% during the 3rd quarter. State Street Corp now owns 4,206,322 shares of the company’s stock valued at $7,277,000 after acquiring an additional 15,642 shares in the last quarter. 59.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.