UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 70,959 Shares of SmartRent, Inc. (NYSE:SMRT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in shares of SmartRent, Inc. (NYSE:SMRT) by 23.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 232,676 shares of the company’s stock after selling 70,959 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in SmartRent were worth $403,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its position in shares of SmartRent by 2.9% in the second quarter. Rhumbline Advisers now owns 273,810 shares of the company’s stock valued at $654,000 after acquiring an additional 7,597 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in SmartRent by 12.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 76,918 shares of the company’s stock valued at $184,000 after purchasing an additional 8,532 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in SmartRent in the 3rd quarter worth $30,000. Algert Global LLC bought a new position in shares of SmartRent during the 2nd quarter worth about $42,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of SmartRent by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,515,124 shares of the company’s stock valued at $2,621,000 after buying an additional 27,662 shares during the last quarter. Institutional investors and hedge funds own 59.42% of the company’s stock.

SmartRent Stock Down 0.6 %

Shares of SMRT opened at $1.58 on Friday. The stock’s 50-day moving average price is $1.69 and its 200 day moving average price is $1.88. The firm has a market capitalization of $304.26 million, a price-to-earnings ratio of -12.15 and a beta of 1.96. SmartRent, Inc. has a 12-month low of $1.17 and a 12-month high of $3.47.

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

Insider Buying and Selling

In other news, Director Frank Martell bought 50,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average price of $1.49 per share, for a total transaction of $74,500.00. Following the transaction, the director now directly owns 200,000 shares of the company’s stock, valued at $298,000. This trade represents a 33.33 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 9.00% of the stock is owned by corporate insiders.

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.