Smith Douglas Homes Corp. (NYSE:SDHC) Director George Ervin Perdue III Buys 2,412 Shares

Smith Douglas Homes Corp. (NYSE:SDHC - Get Free Report) Director George Ervin Perdue III bought 2,412 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were bought at an average cost of $18.83 per share, with a total value of $45,417.96. Following the purchase, the director now directly owns 26,757 shares in the company, valued at approximately $503,834.31. This trade represents a 9.91% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• 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.
• On Monday, June 2nd, George Ervin Perdue III acquired 6,840 shares of Smith Douglas Homes stock. The shares were purchased at an average price of $18.34 per share, with a total value of $125,445.60.

Smith Douglas Homes Price Performance

Shares of SDHC stock traded down $0.37 during trading on Friday, reaching $19.50. The company had a trading volume of 38,051 shares, compared to its average volume of 100,753. Smith Douglas Homes Corp. has a one year low of $16.28 and a one year high of $39.50. The firm's 50 day simple moving average is $18.88 and its two-hundred day simple moving average is $22.94. The company has a market capitalization of $1.00 billion, a PE ratio of 11.27, a PEG ratio of 6.87 and a beta of 1.05.

Smith Douglas Homes (NYSE:SDHC - Get Free Report) last posted its quarterly earnings data on Wednesday, March 12th. The company reported $0.46 earnings per share (EPS) for the quarter, hitting 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 during the quarter, compared to the consensus estimate of $265.85 million. Analysts forecast that Smith Douglas Homes Corp. will post 1.73 earnings per share for the current year.

Smith Douglas Homes announced that its Board of Directors has initiated a stock buyback plan 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 plans are typically an indication that the company's board believes its stock is undervalued.

Institutional Investors Weigh In On Smith Douglas Homes

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its stake in Smith Douglas Homes by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 90,038 shares of the company's stock valued at $2,310,000 after purchasing an additional 457 shares during the last quarter. M&T Bank Corp boosted its holdings 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 valued at $215,000 after purchasing an additional 848 shares during the period. Arcadia Investment Management Corp MI bought a new position in shares of Smith Douglas Homes during the 4th quarter worth about $27,000. PDT Partners LLC raised its position 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 valued at $273,000 after buying an additional 1,349 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in shares of Smith Douglas Homes by 1.0% during the first quarter. New York State Common Retirement Fund now owns 185,119 shares of the company's stock valued at $3,614,000 after buying an additional 1,744 shares during the last quarter.

Analyst Ratings Changes

SDHC has been the topic of several research reports. JPMorgan Chase & Co. dropped 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. Wells Fargo & Company dropped their price objective 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. Wedbush reiterated a "neutral" rating and issued 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 shares of Smith Douglas Homes and gave the stock a "sector perform" rating in a research note 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, Smith Douglas Homes currently has a consensus rating of "Hold" and an average target price 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.