MetLife Investment Management LLC Has $153,000 Stock Position in SmartRent, Inc. (NYSE:SMRT)

MetLife Investment Management LLC grew its holdings in SmartRent, Inc. (NYSE:SMRT) by 20.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 87,149 shares of the company’s stock after acquiring an additional 14,879 shares during the quarter. MetLife Investment Management LLC’s holdings in SmartRent were worth $153,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Royce & Associates LP boosted its holdings in SmartRent by 64.2% in the 4th quarter. Royce & Associates LP now owns 1,283,325 shares of the company’s stock valued at $2,246,000 after purchasing an additional 501,890 shares during the period. Crossingbridge Advisors LLC acquired a new stake in shares of SmartRent in the fourth quarter valued at approximately $569,000. Norges Bank bought a new stake in shares of SmartRent in the fourth quarter valued at approximately $438,000. Barclays PLC grew its position in SmartRent by 317.1% during the third quarter. Barclays PLC now owns 292,017 shares of the company’s stock worth $504,000 after buying an additional 221,998 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in SmartRent by 250.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 288,176 shares of the company’s stock worth $499,000 after acquiring an additional 205,843 shares during the period. 59.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SMRT has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods cut their target price on SmartRent from $1.60 to $1.30 and set a “market perform” rating for the company in a research report on Thursday. Cantor Fitzgerald raised shares of SmartRent to a “hold” rating in a report on Tuesday, April 22nd. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $2.33.

SmartRent Stock Performance

Shares of NYSE:SMRT opened at $0.88 on Friday. SmartRent, Inc. has a 52 week low of $0.67 and a 52 week high of $2.98. The firm has a market cap of $169.63 million, a PE ratio of -6.78 and a beta of 1.86. The firm’s fifty day moving average is $1.03 and its 200-day moving average is $1.41.

SmartRent (NYSE:SMRT) last announced its earnings results on Wednesday, May 7th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The firm had revenue of $41.34 million for the quarter, compared to the consensus estimate of $40.10 million. SmartRent had a negative return on equity of 6.08% and a negative net margin of 12.77%. Sell-side analysts forecast that SmartRent, Inc. will post -0.14 EPS for the current year.

SmartRent declared that its Board of Directors has authorized a share repurchase program on Wednesday, May 7th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to buy up to 27.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at SmartRent

In other SmartRent news, CEO Michael Shane Paladin acquired 43,859 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were acquired at an average price of $1.14 per share, with a total value of $49,999.26. Following the completion of the transaction, 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John C. Dorman purchased 125,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average cost of $1.20 per share, for a total transaction of $150,000.00. Following the completion of the acquisition, the director now directly 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. 1.90% of the stock is currently owned by insiders.

SmartRent Company 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.