George Ervin Perdue III Acquires 1,400 Shares of Smith Douglas Homes Corp. (NYSE:SDHC) Stock

Smith Douglas Homes Corp. (NYSE:SDHC - Get Free Report) Director George Ervin Perdue III bought 1,400 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was purchased at an average price of $18.25 per share, with a total value of $25,550.00. Following the transaction, the director now directly owns 40,384 shares in the company, valued at $737,008. The trade was a 3.59% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, June 12th, George Ervin Perdue III purchased 500 shares of Smith Douglas Homes stock. The shares were acquired at an average cost of $19.40 per share, with a total value of $9,700.00.
• On Wednesday, June 11th, George Ervin Perdue III purchased 3,500 shares of Smith Douglas Homes stock. The stock was acquired at an average cost of $19.74 per share, with a total value of $69,090.00.
• On Wednesday, June 4th, George Ervin Perdue III acquired 2,412 shares of Smith Douglas Homes stock. The stock was bought at an average price of $18.83 per share, with a total value of $45,417.96.
• On Tuesday, June 3rd, George Ervin Perdue III bought 10,000 shares of Smith Douglas Homes stock. The shares were bought at an average cost of $19.09 per share, for a total transaction of $190,900.00.
• On Monday, June 2nd, George Ervin Perdue III acquired 6,840 shares of Smith Douglas Homes stock. The stock was bought at an average price of $18.34 per share, with a total value of $125,445.60.

Smith Douglas Homes Stock Down 8.6%

Shares of SDHC opened at $17.76 on Monday. The company has a market capitalization of $913.34 million, a price-to-earnings ratio of 10.27, a PEG ratio of 6.87 and a beta of 1.05. Smith Douglas Homes Corp. has a 52 week low of $16.28 and a 52 week high of $39.50. The stock's 50-day moving average price is $18.91 and its 200-day moving average price is $22.45.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SDHC. Two Sigma Investments LP lifted its position in Smith Douglas Homes by 366.3% during the fourth quarter. Two Sigma Investments LP now owns 27,550 shares of the company's stock worth $706,000 after buying an additional 21,642 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Smith Douglas Homes in the 4th quarter worth $27,000. Artisan Partners Limited Partnership raised its holdings 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. Bank of New York Mellon Corp acquired a new position in shares of Smith Douglas Homes during the 4th quarter valued at about $328,000. Finally, Jane Street Group LLC grew its holdings in shares of Smith Douglas Homes by 69.9% in the fourth quarter. Jane Street Group LLC now owns 23,837 shares of the company's stock valued at $611,000 after purchasing an additional 9,805 shares during the period.

Analyst Upgrades and Downgrades

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

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.

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