Mak Capital One LLC Makes New $4.04 Million Investment in SmartRent, Inc. $SMRT

Mak Capital One LLC bought a new stake in SmartRent, Inc. (NYSE:SMRT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,863,923 shares of the company’s stock, valued at approximately $4,038,000. SmartRent accounts for approximately 0.6% of Mak Capital One LLC’s investment portfolio, making the stock its 12th largest holding.

Several other large investors have also modified their holdings of SMRT. Citigroup Inc. lifted its holdings in shares of SmartRent by 33.3% during the third quarter. Citigroup Inc. now owns 15,671,673 shares of the company’s stock worth $22,097,000 after purchasing an additional 3,915,817 shares during the period. GatePass Capital LLC increased its stake in SmartRent by 280.5% in the 3rd quarter. GatePass Capital LLC now owns 529,022 shares of the company’s stock valued at $746,000 after buying an additional 390,000 shares during the period. Dimension Capital Management LLC purchased a new position in SmartRent during the 2nd quarter worth $1,148,000. Catalyst Funds Management Pty Ltd raised its position in SmartRent by 232.5% during the 2nd quarter. Catalyst Funds Management Pty Ltd now owns 51,300 shares of the company’s stock worth $51,000 after buying an additional 35,872 shares during the last quarter. Finally, Savant Capital LLC lifted its stake in shares of 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 period. Hedge funds and other institutional investors own 59.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SmartRent in a report on Monday, December 29th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $1.45.

Insider Buying and Selling at SmartRent

In related news, Director Thomas N. Bohjalian purchased 150,000 shares of the stock in a transaction dated Thursday, March 12th. The shares were acquired at an average cost of $1.74 per share, with a total value of $261,000.00. Following the purchase, the director directly owned 500,000 shares in the company, valued at $870,000. This trade represents a 42.86% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 9.00% of the stock is currently owned by company insiders.

SmartRent Price Performance

SmartRent stock opened at $1.72 on Tuesday. SmartRent, Inc. has a 1-year low of $0.67 and a 1-year high of $2.20. The company has a market cap of $329.66 million, a PE ratio of -5.36 and a beta of 1.79. The stock’s 50 day moving average price is $1.71 and its 200 day moving average price is $1.65.

SmartRent (NYSE:SMRT) last released its quarterly earnings data on Wednesday, March 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). SmartRent had a negative return on equity of 12.81% and a negative net margin of 39.76%.The business had revenue of $33.78 million during the quarter, compared to analysts’ expectations of $36.31 million. On average, equities research analysts anticipate that SmartRent, Inc. will post -0.14 EPS for the current fiscal year.

SmartRent Profile

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.