GSA Capital Partners LLP Sells 462,111 Shares of SmartRent, Inc. $SMRT

GSA Capital Partners LLP reduced its stake in SmartRent, Inc. (NYSE:SMRT) by 36.6% during the 4th quarter, Holdings Channel reports. The firm owned 799,275 shares of the company’s stock after selling 462,111 shares during the period. GSA Capital Partners LLP’s holdings in SmartRent were worth $1,615,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in SMRT. Citigroup Inc. boosted its position in shares of SmartRent by 33.3% in the 3rd quarter. Citigroup Inc. now owns 15,671,673 shares of the company’s stock worth $22,097,000 after purchasing an additional 3,915,817 shares during the last quarter. Mak Capital One LLC bought a new position in SmartRent during the third quarter worth about $4,038,000. Northern Right Capital Management L.P. bought a new position in SmartRent during the third quarter worth about $3,739,000. UBS Group AG lifted its holdings in SmartRent by 28.8% during the third quarter. UBS Group AG now owns 10,448,199 shares of the company’s stock worth $14,732,000 after acquiring an additional 2,335,454 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in SmartRent by 230.4% during the second quarter. Marshall Wace LLP now owns 2,657,531 shares of the company’s stock worth $2,631,000 after acquiring an additional 1,853,247 shares in the last quarter. 59.42% of the stock is currently owned by institutional investors.

SmartRent Trading Up 1.3%

SMRT stock opened at $1.16 on Wednesday. The business’s 50-day moving average price is $1.45 and its two-hundred day moving average price is $1.63. The firm has a market cap of $222.73 million, a PE ratio of -8.88 and a beta of 1.57. SmartRent, Inc. has a 1-year low of $0.78 and a 1-year high of $2.20.

SmartRent (NYSE:SMRT) last posted its earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate of ($0.02). The firm had revenue of $36.63 million for the quarter, compared to analyst estimates of $36.82 million. SmartRent had a negative return on equity of 10.61% and a negative net margin of 16.58%. On average, analysts forecast that SmartRent, Inc. will post -0.1 earnings per share for the current year.

Insider Activity

In other news, Director Thomas N. Bohjalian purchased 150,000 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were purchased at an average price of $1.74 per share, with a total value of $261,000.00. Following the purchase, the director directly owned 500,000 shares of the company’s stock, valued at $870,000. This trade represents a 42.86% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Frank Martell purchased 100,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was purchased at an average cost of $1.18 per share, for a total transaction of $118,000.00. Following the purchase, the chief executive officer directly owned 3,165,266 shares in the company, valued at approximately $3,735,013.88. This trade represents a 3.26% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 300,000 shares of company stock worth $435,000 in the last three months. Company insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on SMRT. Keefe, Bruyette & Woods reduced their target price on SmartRent from $2.00 to $1.40 and set a “market perform” rating on the stock in a report on Monday. Weiss Ratings upgraded SmartRent from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $1.40.

SmartRent Company Profile

SmartRent Inc is a technology company that develops smart home and smart building automation solutions for the residential rental housing industry. Its integrated hardware and software platform enables property managers and owners to remotely monitor, manage and control access, energy use and overall resident experience. The company’s product portfolio includes smart locks, thermostats, leak and flood sensors, door and window sensors, security cameras, and a centralized management dashboard that interfaces with leading property management systems.

SmartRent’s platform is designed to streamline operations for multifamily communities and single-family rental portfolios by automating routine tasks such as digital resident self-showings, remote lease turnovers, package management and preventative maintenance alerts.