Smith Douglas Homes Corp. (NYSE:SDHC) Short Interest Up 13.3% in April

Smith Douglas Homes Corp. (NYSE:SDHC - Get Free Report) was the target of a significant growth in short interest during the month of April. As of April 15th, there was short interest totaling 1,120,777 shares, a growth of 13.3% from the March 31st total of 988,984 shares. Currently, 12.6% of the shares of the company are short sold. Based on an average daily trading volume, of 130,829 shares, the short-interest ratio is currently 8.6 days.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wall Street Zen cut shares of Smith Douglas Homes from a "hold" rating to a "sell" rating in a research note on Sunday, March 22nd. Zelman & Associates assumed coverage on shares of Smith Douglas Homes in a research note on Monday, April 6th. They issued a "neutral" rating and a $13.50 target price on the stock. Wells Fargo & Company lowered their target price on shares of Smith Douglas Homes from $18.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 12th. Citizens Jmp initiated coverage on shares of Smith Douglas Homes in a research note on Tuesday, March 24th. They issued a "market perform" rating on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Smith Douglas Homes from $19.00 to $12.00 and set a "neutral" rating on the stock in a research note on Monday, March 16th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Smith Douglas Homes presently has a consensus rating of "Reduce" and an average target price of $14.58.

Insider Activity at Smith Douglas Homes

In related news, Director George Ervin Perdue III acquired 20,300 shares of the business's stock in a transaction dated Friday, March 13th. The stock was acquired at an average price of $12.27 per share, with a total value of $249,081.00. Following the completion of the transaction, the director owned 60,684 shares of the company's stock, valued at approximately $744,592.68. This represents a 50.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have bought a total of 22,000 shares of company stock worth $268,607 over the last three months. 82.71% of the stock is currently owned by corporate insiders.

Institutional Trading of Smith Douglas Homes

Several hedge funds have recently modified their holdings of the stock. Conifer Management L.L.C. grew its stake in shares of Smith Douglas Homes by 68.3% during the fourth quarter. Conifer Management L.L.C. now owns 1,433,350 shares of the company's stock valued at $24,037,000 after purchasing an additional 581,794 shares during the last quarter. Wasatch Advisors LP lifted its holdings in Smith Douglas Homes by 4.4% in the second quarter. Wasatch Advisors LP now owns 1,279,357 shares of the company's stock valued at $24,845,000 after buying an additional 53,358 shares during the period. Wellington Management Group LLP lifted its holdings in Smith Douglas Homes by 2.2% in the fourth quarter. Wellington Management Group LLP now owns 1,176,973 shares of the company's stock valued at $19,738,000 after buying an additional 24,996 shares during the period. Beck Mack & Oliver LLC lifted its holdings in Smith Douglas Homes by 0.4% in the fourth quarter. Beck Mack & Oliver LLC now owns 816,447 shares of the company's stock valued at $13,692,000 after buying an additional 3,605 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Smith Douglas Homes by 0.9% in the third quarter. Vanguard Group Inc. now owns 450,993 shares of the company's stock valued at $7,965,000 after buying an additional 3,884 shares during the period.

Smith Douglas Homes Price Performance

SDHC opened at $14.17 on Friday. Smith Douglas Homes has a one year low of $11.13 and a one year high of $23.50. The company's 50 day simple moving average is $13.83 and its 200-day simple moving average is $16.85. The stock has a market capitalization of $729.57 million, a P/E ratio of 14.92 and a beta of 1.29.

Smith Douglas Homes (NYSE:SDHC - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. Smith Douglas Homes had a net margin of 0.90% and a negative return on equity of 0.78%. The business had revenue of $206.44 million for the quarter, compared to analysts' expectations of $200.70 million. As a group, analysts anticipate that Smith Douglas Homes will post 0.4 EPS for the current year.

About Smith Douglas Homes

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. was founded in 2008 and is headquartered in Woodstock, Georgia.

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