Smith Douglas Homes Corp. (NYSE:SDHC) Director Buys $25,550.00 in Stock

Smith Douglas Homes Corp. (NYSE:SDHC - Get Free Report) Director George Ervin Perdue III acquired 1,400 shares of the firm's stock in a transaction on Friday, June 13th. The stock was bought at an average price of $18.25 per share, with a total value of $25,550.00. Following the purchase, the director now directly owns 40,384 shares of the company's stock, valued at $737,008. This represents a 3.59% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 acquired 500 shares of Smith Douglas Homes stock. The stock was bought at an average price of $19.40 per share, with a total value of $9,700.00.
• On Wednesday, June 11th, George Ervin Perdue III acquired 3,500 shares of Smith Douglas Homes stock. The stock was bought at an average price 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 acquired 10,000 shares of Smith Douglas Homes stock. The stock was bought at an average price of $19.09 per share, with a total value 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 Up 3.1%

NYSE SDHC traded up $0.54 during trading hours on Thursday, hitting $18.14. 249,418 shares of the stock were exchanged, compared to its average volume of 101,497. The company has a market cap of $933.09 million, a price-to-earnings ratio of 10.49, a price-to-earnings-growth ratio of 9.06 and a beta of 1.05. Smith Douglas Homes Corp. has a 12-month low of $16.28 and a 12-month high of $39.50. The stock has a 50-day moving average of $18.90 and a 200 day moving average of $22.28.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings 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 purchasing an additional 298,227 shares in the last quarter. Wasatch Advisors LP raised its holdings 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 in the last quarter. Beck Mack & Oliver LLC grew its position in Smith Douglas Homes by 20.2% during the first quarter. Beck Mack & Oliver LLC now owns 840,975 shares of the company's stock worth $16,416,000 after buying an additional 141,545 shares during the period. Artisan Partners Limited Partnership grew 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 buying an additional 35,702 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in Smith Douglas Homes by 11.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 486,509 shares of the company's stock worth $9,497,000 after buying an additional 50,713 shares during the period.

Wall Street Analyst Weigh In

Several research firms have issued reports on SDHC. Wedbush restated a "neutral" rating and issued a $18.00 price objective on shares of Smith Douglas Homes in a research note on Wednesday, May 14th. Wells Fargo & Company reduced their target price 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. JPMorgan Chase & Co. reduced their target price on shares of Smith Douglas Homes from $24.00 to $18.50 and set a "neutral" rating for the company in a report on Wednesday, May 21st. 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 report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat.com, Smith Douglas Homes has a consensus rating of "Hold" and an average price target of $18.90.

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.