Smith Douglas Homes Corp. (NYSE:SDHC) Director Purchases $121,520.00 in Stock

Smith Douglas Homes Corp. (NYSE:SDHC - Get Free Report) Director Neill B. Faucett acquired 7,000 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were acquired at an average cost of $17.36 per share, for a total transaction of $121,520.00. Following the acquisition, the director now directly owns 14,505 shares of the company's stock, valued at $251,806.80. This trade represents a 93.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Smith Douglas Homes Stock Performance

SDHC stock traded down $0.47 on Friday, reaching $18.71. The company had a trading volume of 142,687 shares, compared to its average volume of 100,407. The company's fifty day moving average is $18.92 and its 200 day moving average is $23.38. The company has a market cap of $962.20 million, a P/E ratio of 10.82, a PEG ratio of 6.87 and a beta of 1.28. Smith Douglas Homes Corp. has a 1 year low of $16.28 and a 1 year high of $39.50.

Smith Douglas Homes (NYSE:SDHC - Get Free Report) last issued its quarterly earnings data on Wednesday, March 12th. The company reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. The business had revenue of $287.49 million for the quarter, compared to the consensus estimate 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 has authorized a share repurchase plan on Wednesday, May 28th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to reacquire up to 5.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Smith Douglas Homes

Several institutional investors and hedge funds have recently modified their holdings of SDHC. PDT Partners LLC raised its holdings in Smith Douglas Homes by 10.7% in the 1st quarter. PDT Partners LLC now owns 13,988 shares of the company's stock valued at $273,000 after acquiring an additional 1,349 shares during the last quarter. Beck Mack & Oliver LLC grew its position in shares of Smith Douglas Homes by 20.2% in the first quarter. Beck Mack & Oliver LLC now owns 840,975 shares of the company's stock valued at $16,416,000 after purchasing an additional 141,545 shares during the period. Trexquant Investment LP grew its position in shares of Smith Douglas Homes by 93.1% in the first quarter. Trexquant Investment LP now owns 16,420 shares of the company's stock valued at $321,000 after purchasing an additional 7,916 shares during the period. Wellington Management Group LLP increased its stake in Smith Douglas Homes by 32.7% in the first quarter. Wellington Management Group LLP now owns 1,211,274 shares of the company's stock valued at $23,644,000 after purchasing an additional 298,227 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Smith Douglas Homes by 80.2% during the first quarter. Victory Capital Management Inc. now owns 14,395 shares of the company's stock worth $281,000 after buying an additional 6,406 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SDHC shares. Wedbush restated a "neutral" rating and set a $18.00 target price on shares of Smith Douglas Homes in a research report on Wednesday, May 14th. Wells Fargo & Company decreased their price target on Smith Douglas Homes from $21.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. dropped their price objective on Smith Douglas Homes from $24.00 to $18.50 and set a "neutral" rating for the company in a research note on Wednesday, May 21st. Finally, Royal Bank of Canada set a $16.00 price objective on Smith Douglas Homes and gave the stock a "sector perform" rating in a report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus 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.