Russell Devendorf Buys 2,000 Shares of Smith Douglas Homes (NYSE:SDHC) Stock

Smith Douglas Homes Corp. (NYSE:SDHC) insider Russell Devendorf acquired 2,000 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was purchased at an average price of $10.88 per share, for a total transaction of $21,760.00. Following the completion of the acquisition, the insider owned 315,461 shares in the company, valued at approximately $3,432,215.68. This trade represents a 0.64% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Russell Devendorf also recently made the following trade(s):

• On Friday, March 13th, Russell Devendorf bought 1,000 shares of Smith Douglas Homes stock. The stock was bought at an average price of $11.56 per share, with a total value of $11,560.00.

Smith Douglas Homes Stock Performance

SDHC stock opened at $11.68 on Friday. Smith Douglas Homes Corp. has a 1 year low of $10.72 and a 1 year high of $23.50. The firm has a market cap of $593.11 million, a P/E ratio of 12.29 and a beta of 1.31. The stock has a 50-day simple moving average of $12.98 and a 200-day simple moving average of $16.36.

Smith Douglas Homes (NYSE:SDHC) last posted its earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. Smith Douglas Homes had a negative return on equity of 0.78% and a net margin of 0.90%.The business had revenue of $206.44 million during the quarter, compared to analyst estimates of $200.70 million. On average, equities research analysts predict that Smith Douglas Homes Corp. will post 0.35 EPS for the current year.

Institutional Investors Weigh In On Smith Douglas Homes

A number of hedge funds have recently bought and sold shares of SDHC. Geode Capital Management LLC grew its stake in Smith Douglas Homes by 8.8% during the 2nd quarter. Geode Capital Management LLC now owns 101,896 shares of the company’s stock valued at $1,980,000 after purchasing an additional 8,201 shares in the last quarter. First Trust Advisors LP grew its stake in Smith Douglas Homes by 5.8% during the 2nd quarter. First Trust Advisors LP now owns 29,025 shares of the company’s stock valued at $564,000 after purchasing an additional 1,583 shares in the last quarter. Marshall Wace LLP acquired a new stake in Smith Douglas Homes during the 2nd quarter valued at approximately $644,000. Raymond James Financial Inc. acquired a new stake in Smith Douglas Homes during the 2nd quarter valued at approximately $34,000. Finally, Wasatch Advisors LP grew its stake 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 valued at $24,845,000 after purchasing an additional 53,358 shares in the last quarter.

Wall Street Analyst Weigh In

SDHC has been the subject of a number of recent research reports. Wells Fargo & Company lowered their target price on Smith Douglas Homes from $18.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, March 12th. Zacks Research upgraded Smith Douglas Homes from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Wall Street Zen upgraded Smith Douglas Homes from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Zelman & Associates initiated coverage on Smith Douglas Homes in a research note on Monday, April 6th. They issued a “neutral” rating and a $13.50 target price for the company. Finally, JPMorgan Chase & Co. lowered their target price on Smith Douglas Homes from $19.00 to $12.00 and set a “neutral” rating for the company in a research note on Monday, March 16th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $13.90.

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.