Virtu Financial LLC Raises Stock Position in SmartRent, Inc. (NYSE:SMRT)

Virtu Financial LLC grew its stake in SmartRent, Inc. (NYSE:SMRT) by 272.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,926 shares of the company’s stock after purchasing an additional 40,927 shares during the quarter. Virtu Financial LLC’s holdings in SmartRent were worth $98,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Avior Wealth Management LLC purchased a new position in shares of SmartRent during the fourth quarter valued at about $31,000. Cibc World Markets Corp purchased a new position in shares of SmartRent during the 4th quarter worth approximately $31,000. SteelPeak Wealth LLC bought a new position in shares of SmartRent in the 4th quarter worth approximately $34,000. Paloma Partners Management Co bought a new position in shares of SmartRent in the 3rd quarter worth approximately $47,000. Finally, Catalyst Funds Management Pty Ltd purchased a new position in shares of SmartRent in the 4th quarter valued at approximately $49,000. 59.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods dropped their target price on shares of SmartRent from $2.00 to $1.60 and set a “market perform” rating on the stock in a report on Thursday, March 6th. Five 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 an average target price of $2.40.

SmartRent Stock Down 3.0 %

Shares of SMRT opened at $1.13 on Monday. SmartRent, Inc. has a 52 week low of $1.07 and a 52 week high of $2.98. The stock has a market cap of $216.79 million, a P/E ratio of -8.65 and a beta of 1.92. The business’s 50 day moving average price is $1.35 and its 200-day moving average price is $1.57.

SmartRent (NYSE:SMRT) last released its earnings results 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 return on equity of 6.08% and a negative net margin of 12.77%. The company had revenue of $35.37 million during the quarter, compared to the consensus estimate of $37.78 million. During the same period last year, the firm posted ($0.02) earnings per share. The company’s revenue was down 41.3% compared to the same quarter last year. On average, equities analysts anticipate that SmartRent, Inc. will post -0.14 EPS for the current year.

Insider Activity at SmartRent

In other SmartRent news, CEO Michael Shane Paladin bought 43,859 shares of SmartRent stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $1.14 per share, with a total value of $49,999.26. Following the acquisition, the chief executive officer now owns 43,859 shares in the company, valued at approximately $49,999.26. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John C. Dorman bought 125,000 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was acquired at an average cost of $1.20 per share, with a total value of $150,000.00. Following the transaction, the director now owns 229,965 shares in the company, valued at $275,958. The trade was 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.