Insider Buying: Smith Douglas Homes (NYSE:SDHC) Director Purchases 20,300 Shares of Stock

Smith Douglas Homes Corp. (NYSE:SDHC) Director George Ervin Perdue III purchased 20,300 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average price of $12.27 per share, for a total transaction of $249,081.00. Following the completion of the transaction, the director owned 60,684 shares in the company, valued at $744,592.68. The trade was a 50.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Smith Douglas Homes Stock Down 2.0%

SDHC traded down $0.26 during trading on Tuesday, hitting $13.02. The company’s stock had a trading volume of 193,190 shares, compared to its average volume of 98,836. The firm’s 50 day moving average price is $17.42 and its two-hundred day moving average price is $17.95. Smith Douglas Homes Corp. has a 12 month low of $11.24 and a 12 month high of $23.50. The stock has a market capitalization of $669.93 million, a price-to-earnings ratio of 10.94 and a beta of 1.04.

Smith Douglas Homes (NYSE:SDHC) last announced its earnings results on Wednesday, March 11th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.20). Smith Douglas Homes had a negative return on equity of 1.03% and a net margin of 1.10%.The business had revenue of $260.43 million for the quarter, compared to the consensus estimate of $251.09 million. On average, sell-side analysts forecast that Smith Douglas Homes Corp. will post 1.73 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Conifer Management L.L.C. boosted its stake in shares of Smith Douglas Homes by 68.3% in the 4th 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 grew its holdings in Smith Douglas Homes by 4.4% during the 2nd quarter. Wasatch Advisors LP now owns 1,279,357 shares of the company’s stock worth $24,845,000 after acquiring an additional 53,358 shares during the period. Wellington Management Group LLP grew its holdings in Smith Douglas Homes by 2.2% during the 4th quarter. Wellington Management Group LLP now owns 1,176,973 shares of the company’s stock worth $19,738,000 after acquiring an additional 24,996 shares during the period. Beck Mack & Oliver LLC lifted its stake in shares of Smith Douglas Homes by 0.4% in the 4th quarter. Beck Mack & Oliver LLC now owns 816,447 shares of the company’s stock valued at $13,692,000 after purchasing an additional 3,605 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Smith Douglas Homes by 0.9% during the third quarter. Vanguard Group Inc. now owns 450,993 shares of the company’s stock worth $7,965,000 after purchasing an additional 3,884 shares during the period.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Smith Douglas Homes in a research report on Thursday, January 22nd. JPMorgan Chase & Co. reduced their target price on shares of Smith Douglas Homes from $19.00 to $12.00 and set a “neutral” rating on the stock in a research report on Monday. Wells Fargo & Company lowered their price target on shares of Smith Douglas Homes from $18.00 to $14.00 and set an “equal weight” rating for the company in a report on Thursday, March 12th. BTIG Research began coverage on shares of Smith Douglas Homes in a research report on Monday, December 1st. They issued a “neutral” rating for the company. Finally, Zacks Research downgraded Smith Douglas Homes from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $14.80.

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.