Public Employees Retirement System of Ohio Increases Position in SmartRent, Inc. $SMRT

Public Employees Retirement System of Ohio raised its holdings in shares of SmartRent, Inc. (NYSE:SMRT) by 1,230.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 143,680 shares of the company’s stock after buying an additional 132,879 shares during the period. Public Employees Retirement System of Ohio owned about 0.08% of SmartRent worth $142,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Pallas Capital Advisors LLC boosted its position in shares of SmartRent by 128.5% during the second quarter. Pallas Capital Advisors LLC now owns 30,788 shares of the company’s stock valued at $30,000 after buying an additional 17,312 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of 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 buying an additional 17,444 shares during the period. Bank of New York Mellon Corp boosted its position in shares of 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 buying an additional 18,880 shares during the period. Brighton Jones LLC boosted its position in shares of SmartRent by 76.5% during the first quarter. Brighton Jones LLC now owns 72,742 shares of the company’s stock valued at $88,000 after buying an additional 31,530 shares during the period. Finally, CWM LLC boosted its position in shares of SmartRent by 944.4% during the first quarter. CWM LLC now owns 37,746 shares of the company’s stock valued at $46,000 after buying an additional 34,132 shares during the period. Hedge funds and other institutional investors own 59.42% of the company’s stock.

Insiders Place Their Bets

In related news, Director Thomas N. Bohjalian bought 100,000 shares of the stock in a transaction on Tuesday, August 19th. The stock was bought at an average price of $1.50 per share, for a total transaction of $150,000.00. Following the completion of the acquisition, the director directly owned 300,000 shares in the company, valued at approximately $450,000. This represents a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Frank Martell bought 50,000 shares of the stock in a transaction on Monday, September 15th. The shares were bought at an average price of $1.53 per share, with a total value of $76,500.00. Following the acquisition, the chief executive officer owned 898,204 shares of the company’s stock, valued at $1,374,252.12. This trade represents a 5.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 725,000 shares of company stock valued at $989,350. 9.00% of the stock is owned by company insiders.

SmartRent Stock Up 0.4%

SmartRent stock opened at $1.38 on Wednesday. The business has a fifty day moving average of $1.39 and a two-hundred day moving average of $1.10. The firm has a market cap of $258.60 million, a P/E ratio of -3.62 and a beta of 1.84. SmartRent, Inc. has a twelve month low of $0.67 and a twelve month high of $1.99.

SmartRent (NYSE:SMRT) last posted its 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). The company had revenue of $38.31 million for the quarter, compared to analysts’ expectations of $38.85 million. SmartRent had a negative return on equity of 14.94% and a negative net margin of 46.54%. Equities analysts expect that SmartRent, Inc. will post -0.14 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on SMRT shares. Keefe, Bruyette & Woods boosted their target price on SmartRent from $1.30 to $1.45 and gave the company a “market perform” rating in a research report on Tuesday, August 12th. Wall Street Zen lowered SmartRent from a “hold” rating to a “sell” rating in a report on Friday, September 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SmartRent in a report on Saturday, September 27th. Finally, Zacks Research upgraded SmartRent to a “hold” rating in a report on Friday, August 8th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $1.45.

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.