17,884 Shares in SmartRent, Inc. (NYSE:SMRT) Acquired by Cibc World Markets Corp

Cibc World Markets Corp acquired a new stake in SmartRent, Inc. (NYSE:SMRT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 17,884 shares of the company’s stock, valued at approximately $31,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Virtu Financial LLC acquired a new stake in SmartRent in the third quarter valued at $26,000. State Street Corp raised its position in shares of SmartRent by 0.4% during the 3rd quarter. State Street Corp now owns 4,206,322 shares of the company’s stock worth $7,277,000 after acquiring an additional 15,642 shares in the last quarter. SG Americas Securities LLC lifted its stake in SmartRent by 18.6% during the fourth quarter. SG Americas Securities LLC now owns 106,992 shares of the company’s stock worth $187,000 after purchasing an additional 16,745 shares during the last quarter. Avior Wealth Management LLC acquired a new position in SmartRent in the fourth quarter valued at approximately $31,000. Finally, SteelPeak Wealth LLC acquired a new position in SmartRent in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 59.42% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods cut their target price on SmartRent from $2.00 to $1.60 and set a “market perform” rating on the stock in a research report on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $2.40.

SmartRent Price Performance

SMRT stock opened at $1.13 on Friday. The company has a market cap of $216.79 million, a price-to-earnings ratio of -8.65 and a beta of 1.92. The company has a fifty day moving average price of $1.35 and a 200 day moving average price of $1.57. SmartRent, Inc. has a 12 month low of $1.07 and a 12 month high of $2.98.

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

Insider Activity at SmartRent

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

About SmartRent

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.