Smith Douglas Homes Corp. (NYSE:SDHC) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lifted its position in shares of Smith Douglas Homes Corp. (NYSE:SDHC - Free Report) by 11.6% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 486,509 shares of the company's stock after buying an additional 50,713 shares during the period. Massachusetts Financial Services Co. MA owned 0.95% of Smith Douglas Homes worth $9,497,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SDHC. Wasatch Advisors LP increased its position in Smith Douglas Homes by 438.9% during the fourth quarter. Wasatch Advisors LP now owns 1,156,019 shares of the company's stock worth $29,640,000 after purchasing an additional 941,511 shares during the last quarter. Artisan Partners Limited Partnership increased its position in Smith Douglas Homes by 4.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 813,082 shares of the company's stock worth $20,847,000 after purchasing an additional 35,702 shares during the last quarter. Beck Mack & Oliver LLC increased its position in Smith Douglas Homes by 58.1% during the fourth quarter. Beck Mack & Oliver LLC now owns 699,430 shares of the company's stock worth $17,933,000 after purchasing an additional 256,950 shares during the last quarter. New York State Common Retirement Fund increased its position in Smith Douglas Homes by 1.0% during the first quarter. New York State Common Retirement Fund now owns 185,119 shares of the company's stock worth $3,614,000 after purchasing an additional 1,744 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Smith Douglas Homes by 31.9% during the fourth quarter. Renaissance Technologies LLC now owns 99,200 shares of the company's stock worth $2,543,000 after purchasing an additional 24,000 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SDHC. JPMorgan Chase & Co. dropped their price objective on shares of Smith Douglas Homes from $24.00 to $18.50 and set a "neutral" rating for the company in a research report on Wednesday, May 21st. Wedbush reissued a "neutral" rating and issued a $18.00 price objective on shares of Smith Douglas Homes in a research report on Wednesday, May 14th. Wells Fargo & Company dropped their price objective on shares of Smith Douglas Homes from $21.00 to $20.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. Finally, Royal Bank Of Canada set a $16.00 price objective on shares of Smith Douglas Homes and gave the stock a "sector perform" rating in a research report on Tuesday, May 20th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $18.90.

Smith Douglas Homes Price Performance

SDHC traded down $0.51 during trading hours on Friday, reaching $19.36. 57,110 shares of the stock traded hands, compared to its average volume of 94,386. The firm's fifty day simple moving average is $19.09 and its two-hundred day simple moving average is $20.59. The company has a market cap of $995.68 million, a price-to-earnings ratio of 11.19, a PEG ratio of 9.96 and a beta of 1.06. Smith Douglas Homes Corp. has a fifty-two week low of $16.28 and a fifty-two week high of $39.50.

Smith Douglas Homes declared that its board has approved a stock buyback plan on Wednesday, May 28th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 5.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at Smith Douglas Homes

In other Smith Douglas Homes news, Director Jeffrey T. Jackson purchased 6,000 shares of Smith Douglas Homes stock in a transaction dated Friday, May 16th. The shares were bought at an average cost of $18.49 per share, for a total transaction of $110,940.00. Following the transaction, the director owned 25,682 shares in the company, valued at $474,860.18. This represents a 30.48% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Russell Devendorf acquired 3,000 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was purchased at an average price of $16.80 per share, for a total transaction of $50,400.00. Following the completion of the transaction, the insider owned 299,952 shares in the company, valued at $5,039,193.60. The trade was a 1.01% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 40,652 shares of company stock valued at $748,964. Corporate insiders own 82.71% of the company's stock.

Smith Douglas Homes Company Profile

Smith Douglas Homes Corp., together with its subsidiaries, engages in the design, construction, and sale of single-family homes in the southeastern United States. It also provides closing, escrow, and title insurance services. The company sells its products to entry-level and empty-nest homebuyers. Smith Douglas Homes Corp.