AQR Capital Management LLC raised its position in SmartRent, Inc. (NYSE:SMRT – Free Report) by 84.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 172,453 shares of the company’s stock after purchasing an additional 79,048 shares during the quarter. AQR Capital Management LLC owned 0.09% of SmartRent worth $412,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Land & Buildings Investment Management LLC grew its stake in SmartRent by 82.0% during the second quarter. Land & Buildings Investment Management LLC now owns 5,658,366 shares of the company’s stock worth $13,523,000 after purchasing an additional 2,549,856 shares during the period. Blue Door Asset Management LLC lifted its position in shares of SmartRent by 41.6% during the 1st quarter. Blue Door Asset Management LLC now owns 4,424,864 shares of the company’s stock valued at $11,859,000 after acquiring an additional 1,299,283 shares during the period. Long Pond Capital LP boosted its position in shares of SmartRent by 26.1% during the 1st quarter. Long Pond Capital LP now owns 3,995,946 shares of the company’s stock worth $10,709,000 after purchasing an additional 826,136 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in SmartRent by 16.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,248,368 shares of the company’s stock worth $7,763,000 after acquiring an additional 468,619 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of SmartRent by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 20,244,087 shares of the company’s stock worth $54,254,000 after purchasing an additional 386,845 shares in the last quarter. 59.42% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other SmartRent news, Director Frank Martell acquired 75,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of $1.63 per share, with a total value of $122,250.00. Following the completion of the purchase, the director now directly owns 150,000 shares in the company, valued at $244,500. The trade was a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Frank Martell acquired 75,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $1.63 per share, with a total value of $122,250.00. Following the transaction, the director now directly owns 150,000 shares in the company, valued at approximately $244,500. This represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Robyn Young acquired 14,793 shares of the stock in a transaction dated Friday, August 30th. The stock was acquired at an average cost of $1.70 per share, with a total value of $25,148.10. Following the transaction, the chief marketing officer now directly owns 52,305 shares in the company, valued at approximately $88,918.50. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 9.00% of the company’s stock.
Analyst Upgrades and Downgrades
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SmartRent Stock Performance
Shares of NYSE:SMRT opened at $1.70 on Wednesday. SmartRent, Inc. has a 52-week low of $1.35 and a 52-week high of $3.47. The stock has a market capitalization of $343.11 million, a price-to-earnings ratio of -11.33 and a beta of 1.97. The stock’s 50-day simple moving average is $1.66 and its two-hundred day simple moving average is $2.14.
SmartRent (NYSE:SMRT – Get Free Report) last posted its quarterly 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 business had revenue of $48.52 million for the quarter, compared to the consensus estimate of $51.33 million. SmartRent had a negative net margin of 10.73% and a negative return on equity of 5.68%. SmartRent’s revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.05) earnings per share. As a group, equities analysts forecast that SmartRent, Inc. will post -0.09 earnings per share for the current fiscal year.
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.
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