Insider Buying: Smith Douglas Homes Corp. (NYSE:SDHC) Director Buys 3,500 Shares of Stock

Smith Douglas Homes Corp. (NYSE:SDHC - Get Free Report) Director George Ervin Perdue III purchased 3,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was bought at an average cost of $19.74 per share, for a total transaction of $69,090.00. Following the completion of the purchase, the director now directly owns 38,484 shares in the company, valued at $759,674.16. This represents a 10.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, June 13th, George Ervin Perdue III bought 1,400 shares of Smith Douglas Homes stock. The stock was acquired at an average cost of $18.25 per share, for a total transaction of $25,550.00.
• On Thursday, June 12th, George Ervin Perdue III bought 500 shares of Smith Douglas Homes stock. The stock was acquired at an average cost of $19.40 per share, for a total transaction of $9,700.00.
• On Wednesday, June 4th, George Ervin Perdue III purchased 2,412 shares of Smith Douglas Homes stock. The shares were purchased 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 shares were purchased 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 purchased 6,840 shares of Smith Douglas Homes stock. The shares were purchased at an average cost of $18.34 per share, for a total transaction of $125,445.60.

Smith Douglas Homes Stock Performance

Shares of NYSE:SDHC traded up $0.54 during trading on Thursday, hitting $18.14. The company's stock had a trading volume of 249,418 shares, compared to its average volume of 101,497. The business has a 50 day moving average price of $18.90 and a two-hundred day moving average price of $22.28. The company has a market capitalization of $933.09 million, a PE ratio of 10.49, a P/E/G ratio of 9.06 and a beta of 1.05. Smith Douglas Homes Corp. has a fifty-two week low of $16.28 and a fifty-two week high of $39.50.

Smith Douglas Homes declared that its board has approved a stock buyback program on Wednesday, May 28th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to reacquire up to 5.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have recently commented on SDHC. Wells Fargo & Company reduced their price target on shares of Smith Douglas Homes from $21.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. reduced 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. Wedbush reaffirmed a "neutral" rating and set a $18.00 price target on shares of Smith Douglas Homes in a research report on Wednesday, May 14th. Finally, Royal Bank Of Canada set a $16.00 price target on shares of Smith Douglas Homes and gave the company a "sector perform" rating in a research report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $18.90.

Hedge Funds Weigh In On Smith Douglas Homes

Several institutional investors have recently modified their holdings of SDHC. Arcadia Investment Management Corp MI acquired a new position in shares of Smith Douglas Homes during the fourth quarter worth $27,000. Trexquant Investment LP acquired a new position in shares of Smith Douglas Homes during the fourth quarter worth $218,000. M&T Bank Corp grew its stake in shares of Smith Douglas Homes by 8.4% during the first quarter. M&T Bank Corp now owns 11,001 shares of the company's stock worth $215,000 after purchasing an additional 848 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Smith Douglas Homes during the fourth quarter worth $328,000. Finally, PDT Partners LLC grew its stake in shares of Smith Douglas Homes by 10.7% during the first quarter. PDT Partners LLC now owns 13,988 shares of the company's stock worth $273,000 after purchasing an additional 1,349 shares in the last quarter.

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.