SmartRent (NYSE:SMRT) CEO Frank Martell Acquires 50,000 Shares

Key Points

• SmartRent CEO Frank Martell purchased 50,000 shares of the company's stock at an average price of $1.44 per share, increasing his total ownership to approximately 798,204 shares, valued at around $1.15 million.
• SmartRent's stock performance recently saw shares trading at $1.52, while the company also reported a negative earnings per share of ($0.06) for the last quarter, missing analyst expectations.
• Wall Street analysts have generally rated SmartRent as a "hold," with analyst price targets ranging around $1.45 following recent changes in ratings from several firms.

SmartRent, Inc. (NYSE:SMRT - Get Free Report) CEO Frank Martell purchased 50,000 shares of SmartRent stock in a transaction dated Friday, September 12th. The stock was acquired at an average price of $1.44 per share, with a total value of $72,000.00. Following the acquisition, the chief executive officer owned 798,204 shares in the company, valued at approximately $1,149,413.76. This represents a 6.68% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Frank Martell also recently made the following trade(s):

• On Monday, September 15th, Frank Martell purchased 50,000 shares of SmartRent stock. The stock was acquired at an average price of $1.53 per share, with a total value of $76,500.00.
• On Friday, August 15th, Frank Martell bought 120,000 shares of SmartRent stock. The shares were bought at an average cost of $1.35 per share, for a total transaction of $162,000.00.
• On Tuesday, August 12th, Frank Martell bought 130,000 shares of SmartRent stock. The shares were bought at an average cost of $1.37 per share, for a total transaction of $178,100.00.
• On Monday, August 11th, Frank Martell acquired 100,000 shares of SmartRent stock. The shares were acquired at an average price of $1.26 per share, with a total value of $126,000.00.
• On Friday, August 8th, Frank Martell acquired 150,000 shares of SmartRent stock. The shares were acquired at an average price of $1.25 per share, with a total value of $187,500.00.

SmartRent Stock Performance

Shares of SMRT traded up $0.07 during trading hours on Monday, hitting $1.52. The stock had a trading volume of 1,680,503 shares, compared to its average volume of 1,844,836. The firm has a 50-day moving average price of $1.24 and a 200 day moving average price of $1.07. The firm has a market capitalization of $284.93 million, a price-to-earnings ratio of -3.99 and a beta of 1.85. SmartRent, Inc. has a fifty-two week low of $0.67 and a fifty-two week high of $1.99.

SmartRent (NYSE:SMRT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.02). SmartRent had a negative return on equity of 14.94% and a negative net margin of 46.54%.The company had revenue of $38.31 million for the quarter, compared to analyst estimates of $38.85 million. As a group, analysts predict that SmartRent, Inc. will post -0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SMRT has been the subject of a number of analyst reports. Wall Street Zen raised shares of SmartRent from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Zacks Research raised shares of SmartRent to a "hold" rating in a report on Friday, August 8th. Finally, Keefe, Bruyette & Woods increased their price target on shares of SmartRent from $1.30 to $1.45 and gave the company a "market perform" rating in a research note on Tuesday, August 12th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $1.45.

Institutional Investors Weigh In On SmartRent

Several institutional investors and hedge funds have recently made changes to their positions in SMRT. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of SmartRent in the 2nd quarter worth about $27,000. Pallas Capital Advisors LLC increased its stake in shares of SmartRent by 128.5% during the 2nd quarter. Pallas Capital Advisors LLC now owns 30,788 shares of the company's stock valued at $30,000 after acquiring an additional 17,312 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in SmartRent by 101.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 34,597 shares of the company's stock worth $42,000 after purchasing an additional 17,444 shares in the last quarter. Jump Financial LLC acquired a new stake in SmartRent during the 2nd quarter worth approximately $42,000. Finally, Qube Research & Technologies Ltd purchased a new position in SmartRent in the 2nd quarter worth approximately $43,000. 59.42% of the stock is currently owned by hedge funds and other institutional investors.

SmartRent Company 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.

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