Mak Capital One LLC Purchases New Position in SmartRent, Inc. $SMRT

Mak Capital One LLC purchased a new stake in SmartRent, Inc. (NYSE:SMRT) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,863,923 shares of the company’s stock, valued at approximately $4,038,000. SmartRent comprises about 0.6% of Mak Capital One LLC’s investment portfolio, making the stock its 12th largest position. Mak Capital One LLC owned 1.51% of SmartRent as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Citigroup Inc. boosted its holdings in shares of SmartRent by 33.3% in the 3rd quarter. Citigroup Inc. now owns 15,671,673 shares of the company’s stock valued at $22,097,000 after buying an additional 3,915,817 shares in the last quarter. UBS Group AG raised its stake in SmartRent by 28.8% during the 3rd 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. Millennium Management LLC lifted its position in SmartRent by 24.7% in the third quarter. Millennium Management LLC now owns 3,646,341 shares of the company’s stock valued at $5,141,000 after acquiring an additional 721,846 shares during the last quarter. Marshall Wace LLP boosted its stake in SmartRent by 230.4% in the second quarter. Marshall Wace LLP now owns 2,657,531 shares of the company’s stock valued at $2,631,000 after acquiring an additional 1,853,247 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in SmartRent by 430.2% in the second quarter. Jane Street Group LLC now owns 1,596,146 shares of the company’s stock valued at $1,580,000 after acquiring an additional 1,295,098 shares in the last quarter. Hedge funds and other institutional investors own 59.42% of the company’s stock.

SmartRent Trading Up 2.7%

Shares of SMRT opened at $1.72 on Tuesday. The company’s 50 day simple moving average is $1.71 and its 200-day simple moving average is $1.65. The firm has a market cap of $329.66 million, a PE ratio of -5.36 and a beta of 1.79. SmartRent, Inc. has a 12-month low of $0.67 and a 12-month high of $2.20.

SmartRent (NYSE:SMRT) last released its quarterly earnings results on Wednesday, March 4th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). SmartRent had a negative net margin of 39.76% and a negative return on equity of 12.81%. The business had revenue of $33.78 million during the quarter, compared to analysts’ expectations of $36.31 million. As a group, equities research analysts forecast that SmartRent, Inc. will post -0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of SmartRent in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $1.45.

Insider Activity at SmartRent

In other SmartRent news, Director Thomas N. Bohjalian bought 150,000 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was acquired at an average price of $1.74 per share, for a total transaction of $261,000.00. Following the completion of the purchase, the director owned 500,000 shares of the company’s stock, valued at approximately $870,000. This represents a 42.86% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.00% of the company’s stock.

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.