Charles Schwab Investment Management Inc. Has $2.62 Million Holdings in SmartRent, Inc. (NYSE:SMRT)

Charles Schwab Investment Management Inc. grew its position in shares of SmartRent, Inc. (NYSE:SMRT) by 1.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,515,124 shares of the company’s stock after purchasing an additional 27,662 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in SmartRent were worth $2,621,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SMRT. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of SmartRent during the third quarter valued at about $30,000. Algert Global LLC acquired a new position in shares of SmartRent in the second quarter worth approximately $42,000. Intech Investment Management LLC acquired a new position in shares of SmartRent in the third quarter worth approximately $106,000. Price T Rowe Associates Inc. MD lifted its stake in shares of SmartRent by 18.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 53,177 shares of the company’s stock worth $143,000 after acquiring an additional 8,169 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of SmartRent by 250.1% in the third quarter. SG Americas Securities LLC now owns 90,247 shares of the company’s stock worth $156,000 after acquiring an additional 64,471 shares during the period. 59.42% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Frank Martell acquired 50,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was purchased at an average price of $1.49 per share, for a total transaction of $74,500.00. Following the completion of the acquisition, the director now directly owns 200,000 shares in the company, valued at $298,000. The trade was a 33.33 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 9.00% of the stock is currently owned by corporate insiders.

SmartRent Price Performance

SmartRent stock opened at $1.83 on Monday. The stock’s 50 day moving average is $1.69 and its 200 day moving average is $1.89. The firm has a market cap of $352.40 million, a P/E ratio of -14.08 and a beta of 1.96. SmartRent, Inc. has a one year low of $1.17 and a one year high of $3.47.

SmartRent (NYSE:SMRT) last issued its earnings results on Wednesday, November 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The business had revenue of $40.50 million during the quarter, compared to the consensus estimate of $45.94 million. SmartRent had a negative return on equity of 6.08% and a negative net margin of 12.77%. The company’s revenue for the quarter was down 30.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. Equities analysts anticipate that SmartRent, Inc. will post -0.14 earnings per share for the current fiscal year.

SmartRent Company 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.