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

Wellington Management Group LLP lowered its stake in Smith Douglas Homes Corp. (NYSE:SDHC - Free Report) by 9.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 913,047 shares of the company's stock after selling 99,646 shares during the quarter. Wellington Management Group LLP owned approximately 1.78% of Smith Douglas Homes worth $23,411,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wasatch Advisors LP increased its stake in shares of Smith Douglas Homes by 438.9% during the 4th 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. Beck Mack & Oliver LLC lifted its position in shares of Smith Douglas Homes by 58.1% in the fourth quarter. Beck Mack & Oliver LLC now owns 699,430 shares of the company's stock valued at $17,933,000 after buying an additional 256,950 shares during the last quarter. First Eagle Investment Management LLC lifted its position in shares of Smith Douglas Homes by 52.8% in the fourth quarter. First Eagle Investment Management LLC now owns 148,882 shares of the company's stock valued at $3,817,000 after buying an additional 51,419 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Smith Douglas Homes by 4.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 813,082 shares of the company's stock worth $20,847,000 after acquiring an additional 35,702 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Smith Douglas Homes by 31.9% during the 4th quarter. Renaissance Technologies LLC now owns 99,200 shares of the company's stock worth $2,543,000 after acquiring an additional 24,000 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SDHC shares. Wedbush reaffirmed a "neutral" rating and set a $18.00 price objective on shares of Smith Douglas Homes in a research report on Wednesday, May 14th. 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. Wells Fargo & Company reduced their price target on Smith Douglas Homes from $21.00 to $20.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. lowered their price target on shares of 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. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $18.90.

Insider Buying and Selling at Smith Douglas Homes

In other Smith Douglas Homes news, Director Jeffrey T. Jackson bought 6,000 shares of the stock in a transaction on Friday, May 16th. The stock was purchased at an average price of $18.49 per share, with a total value of $110,940.00. Following the completion of the purchase, the director now owns 25,682 shares in the company, valued at $474,860.18. The trade was a 30.48% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Neill B. Faucett purchased 7,000 shares of Smith Douglas Homes stock in a transaction dated Friday, May 23rd. The stock was bought at an average price of $17.36 per share, for a total transaction of $121,520.00. Following the completion of the purchase, the director now owns 14,505 shares in the company, valued at $251,806.80. This represents a 93.27% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 16,000 shares of company stock valued at $282,860. 82.71% of the stock is currently owned by corporate insiders.

Smith Douglas Homes Price Performance

SDHC traded up $0.16 on Monday, hitting $18.94. 118,102 shares of the stock were exchanged, compared to its average volume of 100,477. The firm has a market capitalization of $974.23 million, a price-to-earnings ratio of 10.95, a PEG ratio of 6.87 and a beta of 1.28. Smith Douglas Homes Corp. has a 12 month low of $16.28 and a 12 month high of $39.50. The business has a 50-day moving average of $18.92 and a two-hundred day moving average of $23.33.

Smith Douglas Homes (NYSE:SDHC - Get Free Report) last issued its earnings results on Wednesday, March 12th. The company reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. The company had revenue of $287.49 million during the quarter, compared to analysts' expectations of $265.85 million. Smith Douglas Homes had a net margin of 4.60% and a return on equity of 21.01%. Equities research analysts expect that Smith Douglas Homes Corp. will post 1.73 earnings per share for the current fiscal year.

Smith Douglas Homes announced that its Board of Directors has authorized a share repurchase plan on Wednesday, May 28th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 5.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

About Smith Douglas Homes

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.