Voya Investment Management LLC Sells 76,078 Shares of SmartRent, Inc. $SMRT

Voya Investment Management LLC lowered its position in SmartRent, Inc. (NYSE:SMRT) by 58.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,061 shares of the company’s stock after selling 76,078 shares during the quarter. Voya Investment Management LLC’s holdings in SmartRent were worth $67,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SMRT. Wealth Enhancement Advisory Services LLC lifted its position in shares of SmartRent by 101.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 34,597 shares of the company’s stock worth $42,000 after acquiring an additional 17,444 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of SmartRent in the 4th quarter worth approximately $46,000. CWM LLC lifted its position in shares of SmartRent by 944.4% in the 1st quarter. CWM LLC now owns 37,746 shares of the company’s stock worth $46,000 after acquiring an additional 34,132 shares during the period. Cerity Partners LLC bought a new stake in shares of SmartRent in the 1st quarter worth approximately $50,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of SmartRent in the 1st quarter worth approximately $69,000. Institutional investors own 59.42% of the company’s stock.

Analyst Ratings Changes

SMRT has been the subject of a number of research reports. Keefe, Bruyette & Woods raised their price objective on SmartRent from $1.30 to $1.45 and gave the stock a “market perform” rating in a research report on Tuesday, August 12th. Wall Street Zen downgraded SmartRent from a “hold” rating to a “sell” rating in a research report on Friday, September 26th. Finally, Zacks Research upgraded SmartRent to a “hold” rating in a research report on Friday, August 8th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $1.45.

Insiders Place Their Bets

In other news, Director Thomas N. Bohjalian bought 100,000 shares of the stock in a transaction dated Tuesday, August 19th. The stock was bought at an average cost of $1.50 per share, with a total value of $150,000.00. Following the purchase, the director owned 300,000 shares of the company’s stock, valued at approximately $450,000. This represents a 50.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Frank Martell bought 50,000 shares of the stock in a transaction dated Monday, September 15th. The stock was purchased at an average cost of $1.53 per share, with a total value of $76,500.00. Following the completion of the purchase, the chief executive officer directly owned 898,204 shares in the company, valued at approximately $1,374,252.12. This trade represents a 5.89% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 725,000 shares of company stock valued at $989,350 over the last ninety days. Insiders own 1.90% of the company’s stock.

SmartRent Price Performance

SMRT stock opened at $1.40 on Thursday. The business has a fifty day moving average price of $1.37 and a 200 day moving average price of $1.10. SmartRent, Inc. has a fifty-two week low of $0.67 and a fifty-two week high of $1.99. The stock has a market capitalization of $262.36 million, a price-to-earnings ratio of -3.67 and a beta of 1.84.

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