SmartRent, Inc. (NYSE:SMRT) Position Trimmed by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP decreased its holdings in SmartRent, Inc. (NYSE:SMRT - Free Report) by 20.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,137,024 shares of the company's stock after selling 549,964 shares during the period. Dimensional Fund Advisors LP owned approximately 1.11% of SmartRent worth $3,739,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd purchased a new position in SmartRent in the fourth quarter valued at approximately $27,000. Cibc World Markets Corp acquired a new position in shares of SmartRent during the fourth quarter worth $31,000. Avior Wealth Management LLC acquired a new position in shares of SmartRent during the fourth quarter worth $31,000. SteelPeak Wealth LLC acquired a new position in shares of SmartRent during the fourth quarter worth $34,000. Finally, Orion Portfolio Solutions LLC acquired a new position in shares of SmartRent during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 59.42% of the company's stock.

SmartRent Trading Up 13.4%

SmartRent stock traded up $0.10 during mid-day trading on Friday, reaching $0.85. The company's stock had a trading volume of 3,136,328 shares, compared to its average volume of 1,559,133. The firm has a market cap of $160.33 million, a price-to-earnings ratio of -6.55 and a beta of 1.86. The business has a 50 day moving average price of $0.98 and a 200-day moving average price of $1.37. SmartRent, Inc. has a twelve month low of $0.67 and a twelve month high of $2.77.

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

SmartRent announced that its Board of Directors has authorized a share repurchase program on Wednesday, May 7th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 27.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

SMRT has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reduced their target price on shares of SmartRent from $1.60 to $1.30 and set a "market perform" rating on the stock in a research report on Thursday, May 8th. Cantor Fitzgerald raised shares of SmartRent to a "hold" rating in a research report on Tuesday, April 22nd. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, SmartRent presently has a consensus rating of "Hold" and a consensus price target of $2.33.

Insider Transactions at SmartRent

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