Russell Devendorf Purchases 1,000 Shares of Smith Douglas Homes (NYSE:SDHC) Stock

Smith Douglas Homes Corp. (NYSE:SDHC) insider Russell Devendorf bought 1,000 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was purchased at an average cost of $12.68 per share, for a total transaction of $12,680.00. Following the completion of the acquisition, the insider owned 316,461 shares in the company, valued at approximately $4,012,725.48. This trade represents a 0.32% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Smith Douglas Homes Trading Up 1.4%

Shares of NYSE:SDHC opened at $12.60 on Wednesday. The firm has a 50 day moving average of $14.57 and a 200-day moving average of $14.12. Smith Douglas Homes Corp. has a 12 month low of $10.72 and a 12 month high of $23.49. The stock has a market capitalization of $640.46 million, a PE ratio of 17.50 and a beta of 0.88.

Smith Douglas Homes (NYSE:SDHC) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.08). Smith Douglas Homes had a negative return on equity of 0.19% and a net margin of 0.64%.The firm had revenue of $273.03 million for the quarter, compared to analyst estimates of $258.10 million. On average, research analysts predict that Smith Douglas Homes Corp. will post 0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Smith Douglas Homes

Several large investors have recently bought and sold shares of SDHC. State Street Corp increased its holdings in Smith Douglas Homes by 2.7% in the fourth quarter. State Street Corp now owns 42,312 shares of the company’s stock valued at $710,000 after purchasing an additional 1,100 shares during the period. Geode Capital Management LLC lifted its holdings in Smith Douglas Homes by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 104,422 shares of the company’s stock worth $1,752,000 after buying an additional 1,406 shares during the period. First Trust Advisors LP grew its position in shares of Smith Douglas Homes by 5.8% in the 2nd quarter. First Trust Advisors LP now owns 29,025 shares of the company’s stock valued at $564,000 after buying an additional 1,583 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Smith Douglas Homes in the second quarter valued at about $34,000. Finally, Ruane Cunniff & Goldfarb L.P. increased its stake in shares of Smith Douglas Homes by 18.7% in the first quarter. Ruane Cunniff & Goldfarb L.P. now owns 14,490 shares of the company’s stock valued at $185,000 after buying an additional 2,281 shares during the period.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SDHC shares. Wall Street Zen raised Smith Douglas Homes from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Smith Douglas Homes in a report on Friday, July 17th. Finally, Zacks Research upgraded shares of Smith Douglas Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Smith Douglas Homes currently has a consensus 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.