Mirae Asset Global Investments Co. Ltd. Has $1.12 Million Stock Holdings in SmartRent, Inc. (NYSE:SMRT)

Mirae Asset Global Investments Co. Ltd. trimmed its position in SmartRent, Inc. (NYSE:SMRT) by 5.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 352,175 shares of the company’s stock after selling 19,865 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.17% of SmartRent worth $1,123,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. SG Americas Securities LLC acquired a new position in SmartRent during the 3rd quarter worth $112,000. Garrison Point Advisors LLC acquired a new stake in SmartRent in the 3rd quarter valued at approximately $26,000. Bank of New York Mellon Corp increased its position in SmartRent by 8.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 616,660 shares of the company’s stock worth $1,609,000 after buying an additional 45,481 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of SmartRent by 39.2% during the third 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 during the last quarter. Finally, Versor Investments LP boosted its position in shares of SmartRent by 57.6% in the third quarter. Versor Investments LP now owns 53,654 shares of the company’s stock valued at $140,000 after acquiring an additional 19,600 shares during the period. 59.42% of the stock is owned by institutional investors.

SmartRent Stock Down 0.4 %

NYSE SMRT opened at $2.28 on Tuesday. The stock has a market cap of $464.82 million, a P/E ratio of -12.67 and a beta of 2.00. SmartRent, Inc. has a twelve month low of $2.15 and a twelve month high of $4.12. The company’s 50-day simple moving average is $2.70 and its 200 day simple moving average is $2.87.

SmartRent (NYSE:SMRT) last issued its earnings results on Tuesday, March 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). SmartRent had a negative return on equity of 9.97% and a negative net margin of 14.60%. The company had revenue of $60.25 million during the quarter, compared to analyst estimates of $57.88 million. During the same period in the previous year, the company posted ($0.09) earnings per share. The company’s quarterly revenue was up 48.6% on a year-over-year basis. Research analysts anticipate that SmartRent, Inc. will post -0.03 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SMRT shares. 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 report on Wednesday, March 6th. Cantor Fitzgerald restated an “overweight” rating on shares of SmartRent in a research note on Friday, January 12th. Finally, BTIG Research began coverage on SmartRent in a research report on Friday, January 19th. They issued a “buy” rating and a $4.50 price objective for the company.

SmartRent 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.