Conifer Management L.L.C. Boosts Stake in Smith Douglas Homes Corp. $SDHC

Conifer Management L.L.C. boosted its stake in shares of Smith Douglas Homes Corp. (NYSE:SDHC) by 68.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,433,350 shares of the company’s stock after acquiring an additional 581,794 shares during the period. Smith Douglas Homes accounts for about 4.0% of Conifer Management L.L.C.’s portfolio, making the stock its 4th biggest position. Conifer Management L.L.C.’s holdings in Smith Douglas Homes were worth $24,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC increased its stake in Smith Douglas Homes by 38.0% during the 3rd quarter. First Eagle Investment Management LLC now owns 331,674 shares of the company’s stock worth $5,857,000 after acquiring an additional 91,292 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in Smith Douglas Homes by 13.9% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 37,859 shares of the company’s stock worth $635,000 after purchasing an additional 4,608 shares during the last quarter. Quent Capital LLC bought a new stake in Smith Douglas Homes during the fourth quarter worth $386,000. Marshall Wace LLP bought a new stake in Smith Douglas Homes during the second quarter worth $644,000. Finally, Geode Capital Management LLC lifted its stake in Smith Douglas Homes by 8.8% during the second quarter. Geode Capital Management LLC now owns 101,896 shares of the company’s stock worth $1,980,000 after purchasing an additional 8,201 shares during the last quarter.

Smith Douglas Homes Stock Performance

Shares of SDHC opened at $13.67 on Friday. Smith Douglas Homes Corp. has a 52 week low of $10.72 and a 52 week high of $23.50. The stock has a market capitalization of $694.16 million, a price-to-earnings ratio of 14.39 and a beta of 1.13. The stock has a fifty day moving average of $13.10 and a 200-day moving average of $15.90.

Smith Douglas Homes (NYSE:SDHC) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 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 company had revenue of $206.44 million during the quarter, compared to analysts’ expectations of $200.70 million. As a group, equities analysts forecast that Smith Douglas Homes Corp. will post 0.47 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. cut 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. Weiss Ratings restated a “sell (d+)” rating on shares of Smith Douglas Homes in a research note on Tuesday, April 21st. Citizens Jmp assumed coverage on Smith Douglas Homes in a research note on Tuesday, March 24th. They set a “market perform” rating for the company. Zelman & Associates assumed coverage on Smith Douglas Homes in a research note on Monday, April 6th. They set a “neutral” rating and a $13.50 target price for the company. Finally, Wells Fargo & Company cut 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. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $13.90.

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