American Century Companies Inc. Purchases 33,291 Shares of SmartRent, Inc. (NYSE:SMRT)

American Century Companies Inc. boosted its position in shares of SmartRent, Inc. (NYSE:SMRT) by 15.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 247,379 shares of the company’s stock after buying an additional 33,291 shares during the quarter. American Century Companies Inc. owned approximately 0.12% of SmartRent worth $591,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Rhumbline Advisers boosted its holdings in shares of SmartRent by 2.9% during the second quarter. Rhumbline Advisers now owns 273,810 shares of the company’s stock worth $654,000 after purchasing an additional 7,597 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of SmartRent by 18.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 53,177 shares of the company’s stock valued at $143,000 after acquiring an additional 8,169 shares in the last quarter. Blue Door Asset Management LLC lifted its stake in SmartRent by 0.5% in the fourth quarter. Blue Door Asset Management LLC now owns 3,125,581 shares of the company’s stock worth $9,971,000 after acquiring an additional 16,150 shares during the period. Virtu Financial LLC bought a new stake in SmartRent in the first quarter valued at $84,000. Finally, Legacy Capital Group California Inc. increased its position in shares of SmartRent by 104.3% during the second quarter. Legacy Capital Group California Inc. now owns 70,750 shares of the company’s stock valued at $169,000 after buying an additional 36,123 shares during the period. Institutional investors own 59.42% of the company’s stock.

SmartRent Stock Up 1.8 %

Shares of NYSE SMRT opened at $1.67 on Thursday. The firm’s 50-day moving average price is $1.74 and its 200-day moving average price is $2.21. SmartRent, Inc. has a 52-week low of $1.35 and a 52-week high of $3.47. The company has a market cap of $337.05 million, a PE ratio of -11.28 and a beta of 1.97.

SmartRent (NYSE:SMRT) last posted its earnings results on Wednesday, August 7th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The company had revenue of $48.52 million during the quarter, compared to the consensus estimate of $51.33 million. SmartRent had a negative return on equity of 5.68% and a negative net margin of 10.73%. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same period last year, the firm posted ($0.05) EPS. As a group, equities research analysts anticipate that SmartRent, Inc. will post -0.09 EPS for the current fiscal year.

Insider Activity at SmartRent

In other SmartRent news, Director Frank Martell acquired 75,000 shares of the stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $1.63 per share, for a total transaction of $122,250.00. Following the purchase, the director now directly owns 150,000 shares of the company’s stock, valued at $244,500. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other news, CMO Robyn Young purchased 14,793 shares of the stock in a transaction on Friday, August 30th. The shares were acquired at an average price of $1.70 per share, with a total value of $25,148.10. Following the completion of the acquisition, the chief marketing officer now directly owns 52,305 shares of the company’s stock, valued at $88,918.50. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frank Martell purchased 75,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $1.63 per share, with a total value of $122,250.00. Following the completion of the transaction, the director now owns 150,000 shares of the company’s stock, valued at $244,500. The disclosure for this purchase can be found here. 9.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. DA Davidson downgraded SmartRent from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $3.25 to $2.00 in a report on Wednesday, July 31st. BTIG Research downgraded shares of SmartRent from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Cantor Fitzgerald downgraded SmartRent from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $4.00 to $2.00 in a research note on Thursday, August 8th. Colliers Securities cut SmartRent from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods cut SmartRent from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $3.50 to $2.00 in a research note on Thursday, August 8th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat, SmartRent currently has an average rating of “Hold” and an average target price of $2.64.

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.