Insider Buying: Smith Douglas Homes Corp. (NYSE:SDHC) Director Purchases 2,412 Shares of Stock

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 that occurred on Wednesday, June 4th. The stock was bought at an average price of $18.83 per share, with a total value of $45,417.96. Following the completion of the acquisition, the director now owns 26,757 shares of the company's stock, valued at $503,834.31. This trade represents a 9.91% increase in their position. 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 Tuesday, June 3rd, George Ervin Perdue III purchased 10,000 shares of Smith Douglas Homes stock. The shares were acquired at an average cost of $19.09 per share, with a total value of $190,900.00.
• On Monday, June 2nd, George Ervin Perdue III purchased 6,840 shares of Smith Douglas Homes stock. The shares were acquired at an average cost of $18.34 per share, with a total value of $125,445.60.

Smith Douglas Homes Stock Performance

SDHC stock traded up $0.21 on Wednesday, reaching $19.15. The company had a trading volume of 35,695 shares, compared to its average volume of 100,647. Smith Douglas Homes Corp. has a 1 year low of $16.28 and a 1 year high of $39.50. The company's fifty day moving average is $18.87 and its 200 day moving average is $23.19. The company has a market cap of $984.83 million, a P/E ratio of 11.07, a PEG ratio of 6.87 and a beta of 1.28.

Smith Douglas Homes (NYSE:SDHC - Get Free Report) last posted its earnings results on Wednesday, March 12th. The company reported $0.46 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.46. The firm had revenue of $287.49 million for the quarter, compared to analyst estimates of $265.85 million. Smith Douglas Homes had a return on equity of 21.01% and a net margin of 4.60%. On average, sell-side analysts predict that Smith Douglas Homes Corp. will post 1.73 earnings per share for the current year.

Smith Douglas Homes declared that its Board of Directors has authorized a stock buyback plan on Wednesday, May 28th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SDHC shares. Wedbush reiterated a "neutral" rating and set a $18.00 target price on shares of Smith Douglas Homes in a research report on Wednesday, May 14th. Royal Bank of Canada set a $16.00 target price on Smith Douglas Homes and gave the stock a "sector perform" rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. cut 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. Finally, Wells Fargo & Company cut their target price on 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. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $18.90.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP increased its holdings in shares of Smith Douglas Homes by 32.7% during the 1st quarter. Wellington Management Group LLP now owns 1,211,274 shares of the company's stock worth $23,644,000 after buying an additional 298,227 shares during the last quarter. Wasatch Advisors LP increased its holdings in shares of Smith Douglas Homes by 438.9% during the 4th quarter. Wasatch Advisors LP now owns 1,156,019 shares of the company's stock worth $29,640,000 after buying an additional 941,511 shares during the last quarter. Beck Mack & Oliver LLC increased its holdings in shares of Smith Douglas Homes by 20.2% during the 1st 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 last quarter. Artisan Partners Limited Partnership increased its holdings in shares of Smith Douglas Homes by 4.6% during the 4th 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 last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Smith Douglas Homes by 11.6% during the 1st 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 last quarter.

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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