George Ervin Perdue III Purchases 6,840 Shares of Smith Douglas Homes Corp. (NYSE:SDHC) Stock

Smith Douglas Homes Corp. (NYSE:SDHC - Get Free Report) Director George Ervin Perdue III bought 6,840 shares of Smith Douglas Homes stock in a transaction dated Monday, June 2nd. The stock was acquired at an average cost of $18.34 per share, with a total value of $125,445.60. Following the completion of the acquisition, the director now owns 14,345 shares of the company's stock, valued at $263,087.30. This represents a 91.14% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 cost of $18.83 per share, for a total transaction of $45,417.96.
• On Tuesday, June 3rd, George Ervin Perdue III purchased 10,000 shares of Smith Douglas Homes stock. The stock was bought at an average cost of $19.09 per share, for a total transaction of $190,900.00.

Smith Douglas Homes Stock Up 1.1%

NYSE:SDHC traded up $0.21 during trading hours on Wednesday, reaching $19.15. 35,695 shares of the company's stock were exchanged, compared to its average volume of 100,647. Smith Douglas Homes Corp. has a 12 month low of $16.28 and a 12 month high of $39.50. The company has a market capitalization of $984.83 million, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 6.87 and a beta of 1.28. The business's 50-day simple moving average is $18.87 and its two-hundred day simple moving average is $23.19.

Smith Douglas Homes (NYSE:SDHC - Get Free Report) last issued its earnings results on Wednesday, March 12th. The company reported $0.46 earnings per share for the quarter, meeting 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 analyst estimates of $265.85 million. As a group, sell-side analysts anticipate that Smith Douglas Homes Corp. will post 1.73 earnings per share for the current fiscal year.

Smith Douglas Homes declared that its Board of Directors has approved a stock buyback plan on Wednesday, May 28th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to buy up to 5.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Smith Douglas Homes

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in shares of Smith Douglas Homes by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 90,038 shares of the company's stock valued at $2,310,000 after buying an additional 457 shares in the last quarter. M&T Bank Corp grew its stake in Smith Douglas Homes by 8.4% in the 1st quarter. M&T Bank Corp now owns 11,001 shares of the company's stock worth $215,000 after buying an additional 848 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Smith Douglas Homes in the 4th quarter worth approximately $27,000. PDT Partners LLC boosted its position in Smith Douglas Homes by 10.7% during the 1st quarter. PDT Partners LLC now owns 13,988 shares of the company's stock valued at $273,000 after buying an additional 1,349 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in shares of Smith Douglas Homes by 1.0% during the 1st quarter. New York State Common Retirement Fund now owns 185,119 shares of the company's stock valued at $3,614,000 after purchasing an additional 1,744 shares in the last quarter.

Analyst Ratings Changes

SDHC has been the subject of several analyst reports. 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 price target on Smith Douglas Homes from $21.00 to $20.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Royal Bank of Canada set a $16.00 price target on Smith Douglas Homes and gave the company a "sector perform" rating in a report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. lowered 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. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat.com, the stock presently 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.

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