George Ervin Perdue III Acquires 10,000 Shares of Smith Douglas Homes Corp. (NYSE:SDHC) Stock

Smith Douglas Homes Corp. (NYSE:SDHC - Get Free Report) Director George Ervin Perdue III acquired 10,000 shares of the stock in a transaction on Tuesday, June 3rd. The stock was bought at an average cost of $19.09 per share, with a total value of $190,900.00. Following the completion of the transaction, the director now owns 24,345 shares in the company, valued at $464,746.05. This trade represents a 69.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

George Ervin Perdue III also recently made the following trade(s):

• On Wednesday, June 4th, George Ervin Perdue III acquired 2,412 shares of Smith Douglas Homes stock. The shares were bought at an average price of $18.83 per share, with a total value of $45,417.96.
• On Monday, June 2nd, George Ervin Perdue III purchased 6,840 shares of Smith Douglas Homes stock. The stock was acquired at an average price of $18.34 per share, with a total value of $125,445.60.

Smith Douglas Homes Stock Up 1.1%

SDHC traded up $0.21 on Wednesday, reaching $19.15. The company had a trading volume of 35,695 shares, compared to its average volume of 100,647. Smith Douglas Homes Corp. has a 1 year low of $16.28 and a 1 year high of $39.50. The stock has a market capitalization of $984.83 million, a PE ratio of 11.07, a P/E/G ratio of 6.87 and a beta of 1.28. The stock 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 posted its quarterly earnings data on Wednesday, March 12th. The company reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. Smith Douglas Homes had a return on equity of 21.01% and a net margin of 4.60%. The firm had revenue of $287.49 million during the quarter, compared to the consensus estimate of $265.85 million. As a group, analysts expect that Smith Douglas Homes Corp. will post 1.73 earnings per share for the current fiscal year.

Smith Douglas Homes declared that its board has authorized a stock repurchase plan on Wednesday, May 28th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to purchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SDHC. Wedbush reaffirmed a "neutral" rating and issued a $18.00 price objective on shares of Smith Douglas Homes in a report on Wednesday, May 14th. JPMorgan Chase & Co. dropped their price target on 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. Royal Bank of Canada set a $16.00 price objective on shares of Smith Douglas Homes and gave the company a "sector perform" rating in a research note on Tuesday, May 20th. Finally, 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 report on Monday, April 14th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $18.90.

Hedge Funds Weigh In On Smith Douglas Homes

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP increased its position in Smith Douglas Homes by 32.7% during the first quarter. Wellington Management Group LLP now owns 1,211,274 shares of the company's stock worth $23,644,000 after buying an additional 298,227 shares in the last quarter. Wasatch Advisors LP boosted its position in shares of Smith Douglas Homes by 438.9% in the fourth quarter. Wasatch Advisors LP now owns 1,156,019 shares of the company's stock worth $29,640,000 after buying an additional 941,511 shares during the period. Beck Mack & Oliver LLC boosted its holdings in Smith Douglas Homes by 20.2% in the 1st quarter. Beck Mack & Oliver LLC now owns 840,975 shares of the company's stock worth $16,416,000 after acquiring an additional 141,545 shares during the period. Artisan Partners Limited Partnership boosted its stake in shares of Smith Douglas Homes by 4.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 813,082 shares of the company's stock valued at $20,847,000 after purchasing an additional 35,702 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in Smith Douglas Homes by 11.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 486,509 shares of the company's stock valued at $9,497,000 after buying an additional 50,713 shares during the last quarter.

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.

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