UBS Group AG Sells 4,840,953 Shares of SmartRent, Inc. $SMRT

UBS Group AG lowered its stake in shares of SmartRent, Inc. (NYSE:SMRT) by 46.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,607,246 shares of the company’s stock after selling 4,840,953 shares during the quarter. UBS Group AG’s holdings in SmartRent were worth $11,327,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Citigroup Inc. grew its position in SmartRent by 33.3% during the third 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 during the period. Northern Right Capital Management L.P. bought a new position in SmartRent during the third quarter worth about $3,739,000. Mak Capital One LLC bought a new position in SmartRent during the third quarter worth about $4,038,000. GatePass Capital LLC boosted its position in SmartRent by 280.5% during the third quarter. GatePass Capital LLC now owns 529,022 shares of the company’s stock worth $746,000 after purchasing an additional 390,000 shares during the period. Finally, Royce & Associates LP boosted its position in SmartRent by 58.0% during the third quarter. Royce & Associates LP now owns 1,369,571 shares of the company’s stock worth $1,931,000 after purchasing an additional 502,994 shares during the period. Institutional investors own 59.42% of the company’s stock.

SmartRent Stock Down 4.7%

Shares of NYSE:SMRT opened at $1.12 on Friday. The firm has a market capitalization of $215.02 million, a PE ratio of -8.58 and a beta of 1.57. SmartRent, Inc. has a twelve month low of $0.74 and a twelve month high of $2.20. The company has a 50-day moving average price of $1.47 and a two-hundred day moving average price of $1.64.

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

Insider Transactions at SmartRent

In other SmartRent news, CEO Frank Martell bought 100,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was purchased at an average price of $1.18 per share, for a total transaction of $118,000.00. Following the completion of the transaction, the chief executive officer directly owned 3,165,266 shares of the company’s stock, valued at $3,735,013.88. This trade represents a 3.26% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas N. Bohjalian bought 150,000 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were acquired at an average price of $1.74 per share, with a total value of $261,000.00. Following the transaction, the director directly owned 500,000 shares of the company’s stock, valued at approximately $870,000. This trade represents a 42.86% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 300,000 shares of company stock valued at $435,000 in the last quarter. Company insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of SmartRent from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, SmartRent currently has a consensus rating of “Reduce” and an average price target of $1.45.

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.