SmartRent, Inc. $SMRT Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP trimmed its holdings in shares of SmartRent, Inc. (NYSE:SMRT) by 25.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,261,386 shares of the company’s stock after selling 427,981 shares during the quarter. GSA Capital Partners LLP owned approximately 0.67% of SmartRent worth $1,779,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Marshall Wace LLP grew its holdings in shares of 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 buying an additional 1,853,247 shares in the last quarter. Jane Street Group LLC increased its stake in shares of SmartRent by 430.2% in the 2nd quarter. Jane Street Group LLC now owns 1,596,146 shares of the company’s stock worth $1,580,000 after acquiring an additional 1,295,098 shares during the last quarter. Dimension Capital Management LLC purchased a new position in shares of SmartRent during the 2nd quarter worth $1,148,000. AQR Capital Management LLC boosted its position in shares of SmartRent by 245.9% during the 1st quarter. AQR Capital Management LLC now owns 973,783 shares of the company’s stock valued at $1,178,000 after acquiring an additional 692,268 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of SmartRent by 81.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 634,066 shares of the company’s stock valued at $767,000 after purchasing an additional 285,478 shares during the period. Institutional investors and hedge funds own 59.42% of the company’s stock.

SmartRent Price Performance

Shares of SMRT stock opened at $1.63 on Wednesday. SmartRent, Inc. has a 1-year low of $0.67 and a 1-year high of $2.20. The firm has a market cap of $307.45 million, a P/E ratio of -4.51 and a beta of 1.79. The firm’s 50-day simple moving average is $1.85 and its 200-day simple moving average is $1.61.

Insider Activity at SmartRent

In related news, CEO Frank Martell bought 19,466 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was purchased at an average price of $2.07 per share, for a total transaction of $40,294.62. Following the transaction, the chief executive officer directly owned 2,113,796 shares of the company’s stock, valued at approximately $4,375,557.72. This represents a 0.93% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas N. Bohjalian acquired 50,000 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was acquired at an average cost of $1.68 per share, for a total transaction of $84,000.00. Following the purchase, the director directly owned 350,000 shares in the company, valued at approximately $588,000. The trade was a 16.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 574,086 shares of company stock worth $1,014,225 in the last 90 days. 9.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SMRT shares. Zacks Research raised shares of SmartRent from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SmartRent in a research note on Monday, December 29th. Finally, Wall Street Zen raised shares of SmartRent from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average 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.