SmartRent, Inc. (NYSE:SMRT) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lowered its stake in shares of SmartRent, Inc. (NYSE:SMRT - Free Report) by 20.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,137,024 shares of the company's stock after selling 549,964 shares during the quarter. Dimensional Fund Advisors LP owned about 1.11% of SmartRent worth $3,739,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Barclays PLC grew its holdings in shares of SmartRent by 317.1% during the 3rd quarter. Barclays PLC now owns 292,017 shares of the company's stock worth $504,000 after purchasing an additional 221,998 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of SmartRent by 250.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 288,176 shares of the company's stock worth $499,000 after purchasing an additional 205,843 shares during the period. SG Americas Securities LLC grew its holdings in shares of SmartRent by 18.6% during the 4th quarter. SG Americas Securities LLC now owns 106,992 shares of the company's stock worth $187,000 after purchasing an additional 16,745 shares during the period. Avior Wealth Management LLC purchased a new stake in shares of SmartRent during the 4th quarter worth about $31,000. Finally, SteelPeak Wealth LLC purchased a new stake in shares of SmartRent during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 59.42% of the company's stock.

SmartRent Price Performance

NYSE SMRT traded up $0.00 on Monday, reaching $0.86. The company had a trading volume of 2,166,584 shares, compared to its average volume of 1,562,405. The firm has a market capitalization of $162.40 million, a PE ratio of -6.64 and a beta of 1.86. SmartRent, Inc. has a 1 year low of $0.67 and a 1 year high of $2.70. The firm has a 50-day moving average of $0.97 and a 200-day moving average of $1.36.

SmartRent (NYSE:SMRT - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.03). The company had revenue of $41.34 million during the quarter, compared to analysts' expectations of $40.10 million. SmartRent had a negative return on equity of 6.08% and a negative net margin of 12.77%. As a group, sell-side analysts expect that SmartRent, Inc. will post -0.14 EPS for the current fiscal year.

SmartRent announced that its board has initiated a stock buyback plan on Wednesday, May 7th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 27.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

SMRT has been the subject of a number of research reports. Cantor Fitzgerald upgraded SmartRent to a "hold" rating in a report on Tuesday, April 22nd. Keefe, Bruyette & Woods decreased their target price on SmartRent from $1.60 to $1.30 and set a "market perform" rating for the company in a report on Thursday, May 8th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $2.33.

Insider Activity

In other SmartRent news, Director John C. Dorman bought 125,000 shares of SmartRent stock in a transaction dated Monday, March 10th. The stock was bought at an average cost of $1.20 per share, for a total transaction of $150,000.00. Following the purchase, the director now owns 229,965 shares in the company, valued at $275,958. This represents a 119.09% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Shane Paladin bought 43,859 shares of SmartRent stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $1.14 per share, with a total value of $49,999.26. Following the completion of the purchase, the chief executive officer now owns 43,859 shares in the company, valued at approximately $49,999.26. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company's stock.

SmartRent 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.