SmartRent, Inc. $SMRT Shares Bought by Citigroup Inc.

Citigroup Inc. grew its holdings in SmartRent, Inc. (NYSE:SMRT) by 33.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,671,673 shares of the company’s stock after acquiring an additional 3,915,817 shares during the quarter. Citigroup Inc. owned 8.28% of SmartRent worth $22,097,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. GatePass Capital LLC boosted its stake in SmartRent by 280.5% in the 3rd quarter. GatePass Capital LLC now owns 529,022 shares of the company’s stock worth $746,000 after purchasing an additional 390,000 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of SmartRent during the second quarter worth $266,000. Dimension Capital Management LLC purchased a new stake in shares of SmartRent during the second quarter valued at $1,148,000. Catalyst Funds Management Pty Ltd increased its position in shares of SmartRent by 232.5% in the 2nd quarter. Catalyst Funds Management Pty Ltd now owns 51,300 shares of the company’s stock valued at $51,000 after acquiring an additional 35,872 shares during the period. Finally, Savant Capital LLC raised its stake in SmartRent by 416.2% in the 2nd quarter. Savant Capital LLC now owns 170,786 shares of the company’s stock worth $169,000 after acquiring an additional 137,700 shares during the last quarter. Institutional investors and hedge funds own 59.42% of the company’s stock.

Insider Buying and Selling at SmartRent

In other news, Director Thomas N. Bohjalian acquired 50,000 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was bought at an average price of $1.68 per share, with a total value of $84,000.00. Following the completion of the acquisition, the director owned 350,000 shares of the company’s stock, valued at approximately $588,000. This represents a 16.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Frank Martell purchased 19,466 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was acquired at an average price of $2.07 per share, with a total value of $40,294.62. Following the purchase, the chief executive officer owned 2,113,796 shares in the company, valued at $4,375,557.72. This represents a 0.93% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 424,086 shares of company stock worth $795,412. 1.90% of the stock is owned by company insiders.

Analyst Ratings Changes

SMRT has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of SmartRent in a research note on Monday, December 29th. Wall Street Zen upgraded shares of SmartRent from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Zacks Research upgraded shares of SmartRent from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, SmartRent presently has a consensus rating of “Reduce” and an average price target of $1.45.

SmartRent Stock Up 0.3%

SmartRent stock opened at $1.64 on Friday. SmartRent, Inc. has a 52 week low of $0.67 and a 52 week high of $2.20. The firm has a market cap of $309.34 million, a price-to-earnings ratio of -4.54 and a beta of 1.79. The business’s 50-day moving average price is $1.79 and its 200 day moving average price is $1.63.

About SmartRent

SmartRent Inc is a technology company that develops smart home and smart building automation solutions for the residential rental housing industry. Its integrated hardware and software platform enables property managers and owners to remotely monitor, manage and control access, energy use and overall resident experience. The company’s product portfolio includes smart locks, thermostats, leak and flood sensors, door and window sensors, security cameras, and a centralized management dashboard that interfaces with leading property management systems.

SmartRent’s platform is designed to streamline operations for multifamily communities and single-family rental portfolios by automating routine tasks such as digital resident self-showings, remote lease turnovers, package management and preventative maintenance alerts.