Insider Buying: Smith Douglas Homes (NYSE:SDHC) Insider Buys 1,000 Shares of Stock

Smith Douglas Homes Corp. (NYSE:SDHC) insider Russell Devendorf purchased 1,000 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were acquired at an average price of $11.56 per share, for a total transaction of $11,560.00. Following the purchase, the insider directly owned 286,928 shares in the company, valued at approximately $3,316,887.68. The trade was a 0.35% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Smith Douglas Homes Price Performance

Shares of NYSE:SDHC traded down $0.26 during midday trading on Tuesday, hitting $13.02. The company had a trading volume of 193,190 shares, compared to its average volume of 99,825. Smith Douglas Homes Corp. has a 12-month low of $11.24 and a 12-month high of $23.50. The company has a fifty day moving average of $17.42 and a two-hundred day moving average of $17.95. The company has a market cap of $669.93 million, a price-to-earnings ratio of 10.94 and a beta of 1.04.

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

Institutional Investors Weigh In On Smith Douglas Homes

Several institutional investors have recently modified their holdings of the stock. VARCOV Co. bought a new position in shares of Smith Douglas Homes during the fourth quarter valued at approximately $200,000. Wellington Management Group LLP boosted 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 valued at $19,738,000 after acquiring an additional 24,996 shares during the period. Price T Rowe Associates Inc. MD purchased a new position in Smith Douglas Homes during the 4th quarter valued at $182,000. State Street Corp grew its position in Smith Douglas Homes by 2.7% in the 4th quarter. State Street Corp now owns 42,312 shares of the company’s stock valued at $710,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Smith Douglas Homes by 5.1% in the fourth quarter. Wells Fargo & Company MN now owns 128,597 shares of the company’s stock worth $2,157,000 after purchasing an additional 6,191 shares during the period.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company reduced their target price 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. UBS Group reissued a “positive” rating on shares of Smith Douglas Homes in a research note on Monday, December 1st. Wall Street Zen upgraded shares of Smith Douglas Homes from a “sell” rating to a “hold” rating in a research note on Saturday. Zacks Research cut Smith Douglas Homes from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Smith Douglas Homes from $19.00 to $12.00 and set a “neutral” rating for the company in a report on Monday. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Smith Douglas Homes has an average rating of “Reduce” and an average price target of $14.80.

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.