Frank Martell Buys 50,000 Shares of SmartRent (NYSE:SMRT) Stock

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 bought 50,000 shares of the business's stock in a transaction dated Friday, September 12th. The stock was purchased at an average price of $1.44 per share, with a total value of $72,000.00. Following the purchase, the chief executive officer directly owned 798,204 shares of the company's stock, valued at $1,149,413.76. The trade was a 6.68% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

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

SmartRent Stock Performance

Shares of SmartRent stock traded down $0.02 during midday trading on Friday, reaching $1.59. The company had a trading volume of 1,035,007 shares, compared to its average volume of 993,048. The stock has a fifty day simple moving average of $1.29 and a 200 day simple moving average of $1.08. SmartRent, Inc. has a 1-year low of $0.67 and a 1-year 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 (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The firm had revenue of $38.31 million for the quarter, compared to analyst estimates of $38.85 million. SmartRent had a negative return on equity of 14.94% and a negative net margin of 46.54%. Sell-side analysts predict that SmartRent, Inc. will post -0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SmartRent

Several hedge funds and other institutional investors have recently made changes to their positions in SMRT. Marshall Wace LLP increased its position in SmartRent by 230.4% during the 2nd quarter. Marshall Wace LLP now owns 2,657,531 shares of the company's stock worth $2,631,000 after purchasing an additional 1,853,247 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of SmartRent by 6.6% during the fourth quarter. Ameriprise Financial Inc. now owns 2,627,954 shares of the company's stock worth $4,599,000 after buying an additional 163,648 shares during the period. Northern Trust Corp increased its position in shares of SmartRent by 3.5% during the fourth quarter. Northern Trust Corp now owns 1,678,310 shares of the company's stock worth $2,937,000 after buying an additional 55,977 shares during the period. Jane Street Group LLC increased its position in shares of SmartRent by 430.2% during the second quarter. Jane Street Group LLC now owns 1,596,146 shares of the company's stock worth $1,580,000 after buying an additional 1,295,098 shares during the period. Finally, Royce & Associates LP increased its position in shares of SmartRent by 5.4% during the first quarter. Royce & Associates LP now owns 1,352,017 shares of the company's stock worth $1,636,000 after buying an additional 68,692 shares during the period. 59.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SMRT. Zacks Research upgraded SmartRent to a "hold" rating in a research report on Friday, August 8th. Keefe, Bruyette & Woods lifted their price target on shares of SmartRent from $1.30 to $1.45 and gave the stock a "market perform" rating in a research report on Tuesday, August 12th. Finally, Wall Street Zen raised shares of SmartRent from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $1.45.

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.