Cibc World Markets Corp Buys Shares of 17,884 SmartRent, Inc. (NYSE:SMRT)

Cibc World Markets Corp purchased a new stake in SmartRent, Inc. (NYSE:SMRT) in the fourth quarter, HoldingsChannel reports. The firm purchased 17,884 shares of the company’s stock, valued at approximately $31,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SMRT. Jane Street Group LLC lifted its stake in SmartRent by 21.9% in the 3rd quarter. Jane Street Group LLC now owns 310,672 shares of the company’s stock valued at $537,000 after buying an additional 55,809 shares in the last quarter. Barclays PLC boosted its stake in shares of SmartRent by 317.1% during the third quarter. Barclays PLC now owns 292,017 shares of the company’s stock valued at $504,000 after acquiring an additional 221,998 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of SmartRent by 250.0% during the third quarter. JPMorgan Chase & Co. now owns 288,176 shares of the company’s stock valued at $499,000 after acquiring an additional 205,843 shares during the last quarter. Clearline Capital LP increased its position in SmartRent by 788.5% during the 3rd quarter. Clearline Capital LP now owns 2,242,696 shares of the company’s stock worth $3,880,000 after purchasing an additional 1,990,285 shares in the last quarter. Finally, State Street Corp raised its stake in SmartRent by 0.4% in the 3rd quarter. State Street Corp now owns 4,206,322 shares of the company’s stock valued at $7,277,000 after purchasing an additional 15,642 shares during the last quarter. Institutional investors and hedge funds own 59.42% of the company’s stock.

Insiders Place Their Bets

In other news, Director John C. Dorman bought 125,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was acquired at an average price of $1.20 per share, for a total transaction of $150,000.00. Following the acquisition, the director now owns 229,965 shares of the company’s stock, valued at $275,958. This trade represents a 119.09 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael Shane Paladin purchased 43,859 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $1.14 per share, for a total transaction of $49,999.26. Following the acquisition, the chief executive officer now directly owns 43,859 shares of the company’s stock, valued at $49,999.26. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 9.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lowered their price target on shares of SmartRent from $2.00 to $1.60 and set a “market perform” rating for the company in a report on Thursday, March 6th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $2.40.

SmartRent Trading Down 3.0 %

SmartRent stock opened at $1.13 on Friday. The stock has a fifty day moving average price of $1.35 and a 200 day moving average price of $1.57. SmartRent, Inc. has a 52 week low of $1.07 and a 52 week high of $2.98. The firm has a market capitalization of $216.79 million, a P/E ratio of -8.65 and a beta of 1.92.

SmartRent (NYSE:SMRT) last announced its quarterly earnings data on Wednesday, March 5th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.04). SmartRent had a negative return on equity of 6.08% and a negative net margin of 12.77%. The company had revenue of $35.37 million for the quarter, compared to analysts’ expectations of $37.78 million. During the same quarter in the previous year, the company earned ($0.02) earnings per share. The company’s revenue was down 41.3% on a year-over-year basis. As a group, equities analysts predict that SmartRent, Inc. will post -0.14 EPS for the current year.

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.