Insider Buying: Smith Douglas Homes Corp. (NYSE:SDHC) Director Purchases 7,000 Shares of Stock

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

Smith Douglas Homes Stock Down 1.9%

Shares of SDHC traded down $0.34 during mid-day trading on Wednesday, hitting $17.66. 27,103 shares of the company's stock were exchanged, compared to its average volume of 99,667. The firm has a market cap of $908.20 million, a price-to-earnings ratio of 10.21, a price-to-earnings-growth ratio of 6.87 and a beta of 1.28. The stock's 50-day simple moving average is $19.02 and its 200-day simple moving average is $23.69. Smith Douglas Homes Corp. has a 52 week low of $16.28 and a 52 week high of $39.50.

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 for the quarter, hitting analysts' consensus estimates of $0.46. The company had revenue of $287.49 million for the quarter, compared to analyst estimates of $265.85 million. Smith Douglas Homes had a net margin of 4.60% and a return on equity of 21.01%. Analysts forecast that Smith Douglas Homes Corp. will post 1.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on SDHC shares. Wells Fargo & Company reduced their target price on shares of 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 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. JPMorgan Chase & Co. reduced their price objective on Smith Douglas Homes from $24.00 to $18.50 and set a "neutral" rating on the stock in a research note on Wednesday, May 21st. 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 research report on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company's stock. Based on data from MarketBeat.com, Smith Douglas Homes currently has an average rating of "Hold" and an average target price of $18.90.

Institutional Trading of Smith Douglas Homes

Institutional investors and hedge funds have recently modified their holdings of the business. PDT Partners LLC lifted its holdings in shares of 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 increased its stake in shares of Smith Douglas Homes by 20.2% in the 1st 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 in the last quarter. Trexquant Investment LP raised its stake in Smith Douglas Homes by 93.1% in the 1st 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 last quarter. Wellington Management Group LLP increased its position in Smith Douglas Homes by 32.7% during the first quarter. Wellington Management Group LLP now owns 1,211,274 shares of the company's stock worth $23,644,000 after purchasing an additional 298,227 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Smith Douglas Homes by 80.2% in the 1st quarter. Victory Capital Management Inc. now owns 14,395 shares of the company's stock valued at $281,000 after purchasing an additional 6,406 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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