Punch & Associates Investment Management Inc. Makes New $3.85 Million Investment in SmartRent, Inc. $SMRT

Posted by George Bondi on Jun 17th, 2026

Punch & Associates Investment Management Inc. bought a new position in SmartRent, Inc. (NYSE:SMRT – Free Report) in the fourth quarter, Holdings Channel.com reports. The fund bought 1,907,285 shares of the company’s stock, valued at approximately $3,853,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Citigroup Inc. lifted its position in SmartRent by 33.3% in 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. UBS Group AG lifted its position in shares of SmartRent by 28.8% during the 3rd quarter. UBS Group AG now owns 10,448,199 shares of the company’s stock valued at $14,732,000 after acquiring an additional 2,335,454 shares during the last quarter. Marshall Wace LLP lifted its position in shares of SmartRent by 34.0% during the 4th quarter. Marshall Wace LLP now owns 3,964,108 shares of the company’s stock valued at $8,008,000 after acquiring an additional 1,006,267 shares during the last quarter. Millennium Management LLC lifted its position in shares of SmartRent by 24.7% during the 3rd quarter. Millennium Management LLC now owns 3,646,341 shares of the company’s stock valued at $5,141,000 after acquiring an additional 721,846 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of SmartRent by 18.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,884,418 shares of the company’s stock valued at $5,827,000 after acquiring an additional 447,529 shares during the last quarter. 59.42% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Thomas N. Bohjalian purchased 75,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were acquired at an average cost of $1.11 per share, with a total value of $83,250.00. Following the completion of the purchase, the director owned 721,062 shares of the company’s stock, valued at $800,378.82. The trade was a 11.61% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frank Martell purchased 100,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was bought at an average cost of $1.18 per share, for a total transaction of $118,000.00. Following the completion of the purchase, the chief executive officer directly owned 3,165,266 shares of the company’s stock, valued at $3,735,013.88. The trade was a 3.26% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 295,260 shares of company stock worth $339,044 over the last ninety days. 2.30% of the stock is currently owned by company insiders.

SmartRent Stock Down 4.0%

SMRT opened at $1.09 on Wednesday. The stock has a fifty day moving average of $1.28 and a 200-day moving average of $1.60. The firm has a market capitalization of $209.23 million, a P/E ratio of -8.35 and a beta of 1.53. SmartRent, Inc. has a 12-month low of $0.87 and a 12-month high of $2.20.

SmartRent (NYSE:SMRT – Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.02). The company had revenue of $36.63 million during the quarter, compared to analyst estimates of $36.82 million. SmartRent had a negative return on equity of 10.61% and a negative net margin of 16.58%. On average, analysts expect that SmartRent, Inc. will post -0.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SMRT shares. Weiss Ratings upgraded SmartRent from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday. Keefe, Bruyette & Woods cut their price objective on SmartRent from $2.00 to $1.40 and set a “market perform” rating for the company in a research report on Monday, May 18th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, SmartRent currently has an average rating of “Reduce” and an average price target of $1.40.

Read Our Latest Stock Analysis on SMRT

About SmartRent

(Free Report)

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.