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

Smith Douglas Homes Corp. (NYSE:SDHC - Get Free Report) Director George Ervin Perdue III acquired 3,500 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were acquired at an average cost of $19.74 per share, for a total transaction of $69,090.00. Following the purchase, the director now directly owns 38,484 shares of the company's stock, valued at $759,674.16. This represents a 10.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, 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 acquired 1,400 shares of Smith Douglas Homes stock. The shares were bought at an average price of $18.25 per share, with a total value of $25,550.00.
• On Thursday, June 12th, George Ervin Perdue III bought 500 shares of Smith Douglas Homes stock. The stock was bought 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 stock was purchased at an average price 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 price of $19.09 per share, for a total transaction of $190,900.00.
• On Monday, June 2nd, George Ervin Perdue III bought 6,840 shares of Smith Douglas Homes stock. The shares were acquired at an average price of $18.34 per share, for a total transaction of $125,445.60.

Smith Douglas Homes Price Performance

Shares of NYSE:SDHC opened at $17.76 on Monday. The company has a market capitalization of $913.34 million, a P/E ratio of 10.27, a P/E/G ratio of 6.87 and a beta of 1.05. Smith Douglas Homes Corp. has a 1-year low of $16.28 and a 1-year high of $39.50. The firm's 50 day simple moving average is $18.91 and its two-hundred day simple moving average is $22.45.

Smith Douglas Homes declared that its board has authorized a share repurchase plan on Wednesday, May 28th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to buy up to 5.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

Institutional Investors Weigh In On Smith Douglas Homes

A number of institutional investors have recently bought and sold shares of the business. Arcadia Investment Management Corp MI bought a new position in shares of Smith Douglas Homes in the fourth quarter worth about $27,000. Bank of New York Mellon Corp bought a new position in Smith Douglas Homes in the 4th quarter worth approximately $328,000. First Eagle Investment Management LLC grew its holdings in Smith Douglas Homes by 52.8% during the 4th quarter. First Eagle Investment Management LLC now owns 148,882 shares of the company's stock valued at $3,817,000 after buying an additional 51,419 shares in the last quarter. Artisan Partners Limited Partnership raised its position in shares of Smith Douglas Homes by 4.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 813,082 shares of the company's stock valued at $20,847,000 after buying an additional 35,702 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Smith Douglas Homes by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 90,038 shares of the company's stock worth $2,310,000 after acquiring an additional 457 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages 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 for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. cut 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 research report on Wednesday, May 21st. Wedbush reiterated a "neutral" rating and set a $18.00 target price on shares of Smith Douglas Homes in a research note on Wednesday, May 14th. Finally, 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. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, Smith Douglas Homes presently has an average rating of "Hold" and a consensus 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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