Wellington Management Group LLP Sells 99,646 Shares of Smith Douglas Homes Corp. (NYSE:SDHC)

Wellington Management Group LLP lowered its holdings in shares of Smith Douglas Homes Corp. (NYSE:SDHC - Free Report) by 9.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 913,047 shares of the company's stock after selling 99,646 shares during the period. Wellington Management Group LLP owned approximately 1.78% of Smith Douglas Homes worth $23,411,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SDHC. Arcadia Investment Management Corp MI bought a new position in shares of Smith Douglas Homes during the fourth quarter valued at $27,000. Trexquant Investment LP bought a new stake in Smith Douglas Homes during the 4th quarter valued at about $218,000. Yorktown Management & Research Co Inc purchased a new position in Smith Douglas Homes in the fourth quarter worth about $236,000. Bank of New York Mellon Corp bought a new position in shares of Smith Douglas Homes in the fourth quarter worth approximately $328,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Smith Douglas Homes during the fourth quarter valued at approximately $456,000.

Analyst Upgrades and Downgrades

Several brokerages have commented on SDHC. Wedbush reiterated a "neutral" rating and set a $18.00 target price on shares of Smith Douglas Homes in a research note on Wednesday, May 14th. JPMorgan Chase & Co. dropped their price objective on Smith Douglas Homes from $24.00 to $18.50 and set a "neutral" rating on the stock in a research report on Wednesday, May 21st. Wells Fargo & Company decreased their target price on 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 target price on shares of Smith Douglas Homes and gave the company a "sector perform" rating in a research note on Tuesday, May 20th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $18.90.

Smith Douglas Homes Stock Up 1.1%

Shares of Smith Douglas Homes stock traded up $0.21 during trading hours on Wednesday, reaching $19.15. 35,695 shares of the stock traded hands, compared to its average volume of 100,647. Smith Douglas Homes Corp. has a one year low of $16.28 and a one year high of $39.50. The firm has a market capitalization of $984.83 million, a price-to-earnings ratio of 11.07, a P/E/G ratio of 6.87 and a beta of 1.28. The company has a 50 day moving average price of $18.87 and a 200 day moving average price of $23.19.

Smith Douglas Homes (NYSE:SDHC - Get Free Report) last released its quarterly earnings results on Wednesday, March 12th. The company reported $0.46 earnings per share for the quarter, hitting the consensus estimate of $0.46. Smith Douglas Homes had a net margin of 4.60% and a return on equity of 21.01%. The business had revenue of $287.49 million for the quarter, compared to the consensus estimate of $265.85 million. Sell-side analysts anticipate that Smith Douglas Homes Corp. will post 1.73 earnings per share for the current year.

Smith Douglas Homes announced that its Board of Directors has initiated a stock buyback program on Wednesday, May 28th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 5.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Russell Devendorf purchased 3,000 shares of the stock in a transaction on Wednesday, May 21st. The shares were acquired at an average price of $16.80 per share, with a total value of $50,400.00. Following the completion of the acquisition, the insider now directly owns 299,952 shares of the company's stock, valued at $5,039,193.60. This trade represents a 1.01% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director George Ervin Perdue III acquired 10,000 shares of Smith Douglas Homes stock in a transaction dated Tuesday, June 3rd. The stock was purchased at an average cost of $19.09 per share, with a total value of $190,900.00. Following the completion of the purchase, the director now owns 24,345 shares of the company's stock, valued at approximately $464,746.05. This represents a 69.71% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 35,252 shares of company stock valued at $644,624. 82.71% of the stock is owned by company insiders.

Smith Douglas Homes 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.