Pekin Hardy Strauss Inc. Buys Shares of 95,200 SmartRent, Inc. (NYSE:SMRT)

Pekin Hardy Strauss Inc. acquired a new stake in shares of SmartRent, Inc. (NYSE:SMRT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 95,200 shares of the company’s stock, valued at approximately $304,000.

Other large investors have also added to or reduced their stakes in the company. JGP Wealth Management LLC raised its holdings in SmartRent by 13.3% in the 4th quarter. JGP Wealth Management LLC now owns 40,392 shares of the company’s stock worth $129,000 after acquiring an additional 4,748 shares during the last quarter. Simon Quick Advisors LLC lifted its holdings in shares of SmartRent by 36.2% during the fourth quarter. Simon Quick Advisors LLC now owns 25,326 shares of the company’s stock valued at $81,000 after purchasing an additional 6,738 shares in the last quarter. Boston Partners boosted its position in shares of SmartRent by 1.4% during the third quarter. Boston Partners now owns 494,223 shares of the company’s stock valued at $1,290,000 after buying an additional 7,046 shares during the last quarter. Principal Financial Group Inc. increased its holdings in SmartRent by 39.2% in the 3rd quarter. Principal Financial Group Inc. now owns 27,239 shares of the company’s stock worth $71,000 after buying an additional 7,670 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new position in SmartRent in the 3rd quarter worth about $42,000. Hedge funds and other institutional investors own 59.42% of the company’s stock.

SmartRent Trading Up 0.9 %

SMRT stock opened at $2.34 on Thursday. SmartRent, Inc. has a 52 week low of $2.24 and a 52 week high of $4.12. The company has a fifty day simple moving average of $2.62 and a two-hundred day simple moving average of $2.85.

SmartRent (NYSE:SMRT) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The firm had revenue of $60.25 million for the quarter, compared to the consensus estimate of $57.88 million. SmartRent had a negative net margin of 14.60% and a negative return on equity of 9.97%. The company’s revenue was up 48.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.09) EPS. On average, equities analysts predict that SmartRent, Inc. will post -0.03 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of SmartRent in a research note on Friday, January 12th. Keefe, Bruyette & Woods reduced their price target on shares of SmartRent from $4.50 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, March 6th. Finally, BTIG Research began coverage on shares of SmartRent in a research report on Friday, January 19th. They issued a “buy” rating and a $4.50 price target on the stock.

About SmartRent

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.