Insider Buying: United Homes Group, Inc. (NASDAQ:UHG) Major Shareholder Purchases 50,000 Shares of Stock

United Homes Group, Inc. (NASDAQ:UHG - Get Free Report) major shareholder Patrick Michael Nieri bought 50,000 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was purchased at an average price of $1.95 per share, with a total value of $97,500.00. Following the completion of the purchase, the insider now directly owns 50,000 shares of the company's stock, valued at approximately $97,500. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

Patrick Michael Nieri also recently made the following trade(s):

• On Tuesday, May 27th, Patrick Michael Nieri bought 33,330 shares of United Homes Group stock. The shares were bought at an average cost of $2.00 per share, for a total transaction of $66,660.00.
• On Friday, May 23rd, Patrick Michael Nieri bought 31,151 shares of United Homes Group stock. The stock was purchased at an average price of $2.01 per share, with a total value of $62,613.51.

United Homes Group Stock Performance

Shares of NASDAQ:UHG traded up $0.30 during trading on Friday, reaching $2.90. The stock had a trading volume of 435,323 shares, compared to its average volume of 88,629. United Homes Group, Inc. has a 52 week low of $1.60 and a 52 week high of $7.80. The firm has a market capitalization of $169.95 million, a price-to-earnings ratio of -4.92 and a beta of 0.97. The company has a quick ratio of 1.58, a current ratio of 6.62 and a debt-to-equity ratio of 7.16. The stock has a fifty day simple moving average of $2.26 and a two-hundred day simple moving average of $3.64.

United Homes Group (NASDAQ:UHG - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported $0.03 earnings per share for the quarter. The business had revenue of $87.00 million for the quarter. United Homes Group had a negative net margin of 4.58% and a positive return on equity of 1,250.34%.

Hedge Funds Weigh In On United Homes Group

Several hedge funds have recently made changes to their positions in UHG. AQR Capital Management LLC bought a new position in United Homes Group during the first quarter worth $34,000. Wolverine Asset Management LLC raised its stake in United Homes Group by 157.9% during the fourth quarter. Wolverine Asset Management LLC now owns 10,265 shares of the company's stock worth $43,000 after acquiring an additional 6,285 shares in the last quarter. JPMorgan Chase & Co. raised its stake in United Homes Group by 189.0% during the third quarter. JPMorgan Chase & Co. now owns 8,998 shares of the company's stock worth $55,000 after acquiring an additional 5,884 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of United Homes Group by 34.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 23,396 shares of the company's stock worth $66,000 after purchasing an additional 6,000 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in United Homes Group by 432.0% in the fourth quarter. Rhumbline Advisers now owns 26,596 shares of the company's stock valued at $112,000 after acquiring an additional 21,597 shares during the last quarter. 88.85% of the stock is owned by institutional investors.

About United Homes Group

United Homes Group, Inc, a homebuilding company, engages in the design, building, and sale of homes in South Carolina, North Carolina, and Georgia. It provides detached single-family houses, as well as attached single-family houses, including duplex and town houses for entry-level buyers, first time move-ups, second time move-ups, third time move-ups, and custom builds.