Nuveen LLC Takes $498,000 Position in SmartRent, Inc. $SMRT

Nuveen LLC bought a new stake in shares of SmartRent, Inc. (NYSE:SMRT) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 411,632 shares of the company’s stock, valued at approximately $498,000. Nuveen LLC owned approximately 0.22% of SmartRent at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its position in shares of SmartRent by 15.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 71,641 shares of the company’s stock worth $126,000 after acquiring an additional 9,827 shares during the period. MetLife Investment Management LLC boosted its position in SmartRent by 20.6% during the fourth quarter. MetLife Investment Management LLC now owns 87,149 shares of the company’s stock valued at $153,000 after purchasing an additional 14,879 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in SmartRent by 101.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 34,597 shares of the company’s stock valued at $42,000 after purchasing an additional 17,444 shares in the last quarter. ProShare Advisors LLC boosted its position in SmartRent by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 53,820 shares of the company’s stock valued at $94,000 after purchasing an additional 17,710 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in SmartRent by 3.4% during the first quarter. Bank of New York Mellon Corp now owns 567,514 shares of the company’s stock valued at $687,000 after purchasing an additional 18,880 shares in the last quarter. Hedge funds and other institutional investors own 59.42% of the company’s stock.

Insider Transactions at SmartRent

In other news, CEO Frank Martell purchased 150,000 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were acquired at an average cost of $1.25 per share, for a total transaction of $187,500.00. Following the completion of the purchase, the chief executive officer directly owned 398,204 shares in the company, valued at $497,755. The trade was a 60.43% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas N. Bohjalian purchased 100,000 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average price of $1.50 per share, for a total transaction of $150,000.00. Following the completion of the purchase, the director owned 300,000 shares of the company’s stock, valued at approximately $450,000. This trade represents a 50.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 625,000 shares of company stock worth $840,850. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SMRT. Zacks Research upgraded shares of SmartRent to a “hold” rating in a research note on Friday, August 8th. Wall Street Zen raised shares of SmartRent from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Finally, Keefe, Bruyette & Woods upped their price target on shares of SmartRent from $1.30 to $1.45 and gave the stock a “market perform” rating in a research report on Tuesday, August 12th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, SmartRent presently has an average rating of “Hold” and an average target price of $1.45.

SmartRent Stock Down 1.7%

Shares of SMRT stock opened at $1.42 on Friday. The stock has a market capitalization of $266.12 million, a PE ratio of -3.72 and a beta of 1.86. The firm has a 50 day moving average of $1.19 and a two-hundred day moving average of $1.07. SmartRent, Inc. has a 52 week low of $0.67 and a 52 week high of $1.99.

SmartRent (NYSE:SMRT) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). SmartRent had a negative return on equity of 14.94% and a negative net margin of 46.54%.The business had revenue of $38.31 million for the quarter, compared to analyst estimates of $38.85 million. Analysts expect that SmartRent, Inc. will post -0.14 EPS 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.