UBS Group AG Has $11.33 Million Stock Holdings in SmartRent, Inc. $SMRT

UBS Group AG decreased its holdings in shares of SmartRent, Inc. (NYSE:SMRT) by 46.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,607,246 shares of the company’s stock after selling 4,840,953 shares during the period. UBS Group AG owned approximately 2.96% of SmartRent worth $11,327,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Kanen Wealth Management LLC bought a new stake in shares of SmartRent in the 3rd quarter worth $26,000. Franklin Resources Inc. bought a new stake in shares of SmartRent in the 3rd quarter worth $43,000. OLIO Financial Planning bought a new stake in shares of SmartRent in the 4th quarter worth $63,000. Jump Financial LLC bought a new stake in shares of SmartRent in the 2nd quarter worth $42,000. Finally, Qube Research & Technologies Ltd bought a new stake in shares of SmartRent in the 2nd quarter worth $43,000. Institutional investors and hedge funds own 59.42% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of SmartRent from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, SmartRent currently has an average rating of “Reduce” and an average target price of $1.45.

SmartRent Price Performance

NYSE SMRT opened at $1.12 on Friday. SmartRent, Inc. has a 1 year low of $0.74 and a 1 year high of $2.20. The firm has a market cap of $215.02 million, a price-to-earnings ratio of -8.58 and a beta of 1.57. The company has a fifty day moving average price of $1.47 and a 200-day moving average price of $1.64.

SmartRent (NYSE:SMRT) last posted its earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.02). SmartRent had a negative net margin of 16.58% and a negative return on equity of 10.61%. The firm had revenue of $36.63 million during the quarter, compared to analyst estimates of $36.82 million. On average, research analysts anticipate that SmartRent, Inc. will post -0.1 EPS for the current fiscal year.

Insider Activity

In related news, CEO Frank Martell purchased 100,000 shares of SmartRent stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average price of $1.18 per share, for a total transaction of $118,000.00. Following the completion of the transaction, the chief executive officer owned 3,165,266 shares in the company, valued at $3,735,013.88. This represents a 3.26% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas N. Bohjalian purchased 150,000 shares of SmartRent stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average price of $1.74 per share, with a total value of $261,000.00. Following the transaction, the director owned 500,000 shares of the company’s stock, valued at $870,000. This trade represents a 42.86% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 300,000 shares of company stock valued at $435,000. 2.30% of the stock is owned by company insiders.

SmartRent Profile

SmartRent Inc is a technology company that develops smart home and smart building automation solutions for the residential rental housing industry. Its integrated hardware and software platform enables property managers and owners to remotely monitor, manage and control access, energy use and overall resident experience. The company’s product portfolio includes smart locks, thermostats, leak and flood sensors, door and window sensors, security cameras, and a centralized management dashboard that interfaces with leading property management systems.

SmartRent’s platform is designed to streamline operations for multifamily communities and single-family rental portfolios by automating routine tasks such as digital resident self-showings, remote lease turnovers, package management and preventative maintenance alerts.