Smith Douglas Homes Corp. (NYSE:SDHC) Director Acquires $190,900.00 in Stock

Smith Douglas Homes Corp. (NYSE:SDHC) Director George Ervin Perdue III acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were purchased at an average cost of $19.09 per share, for a total transaction of $190,900.00. Following the completion of the transaction, the director now directly owns 24,345 shares in the company, valued at $464,746.05. The trade was a 69.71% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

George Ervin Perdue III also recently made the following trade(s):

• On Wednesday, June 4th, George Ervin Perdue III acquired 2,412 shares of Smith Douglas Homes stock. The shares were purchased at an average cost of $18.83 per share, for a total transaction of $45,417.96.
• On Monday, June 2nd, George Ervin Perdue III acquired 6,840 shares of Smith Douglas Homes stock. The shares were purchased at an average cost of $18.34 per share, for a total transaction of $125,445.60.

Smith Douglas Homes Stock Down 1.8%

Shares of NYSE SDHC opened at $19.50 on Friday. The firm’s 50-day moving average price is $18.88 and its 200-day moving average price is $23.05. The company has a market cap of $1.00 billion, a PE ratio of 11.27, a PEG ratio of 6.87 and a beta of 1.05. Smith Douglas Homes Corp. has a 52-week low of $16.28 and a 52-week high of $39.50.

Smith Douglas Homes (NYSE:SDHC) last posted its quarterly earnings data on Wednesday, March 12th. The company reported $0.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.46. The company had revenue of $287.49 million for the quarter, compared to the consensus estimate of $265.85 million. Smith Douglas Homes had a net margin of 4.60% and a return on equity of 21.01%. As a group, equities research analysts anticipate that Smith Douglas Homes Corp. will post 1.73 EPS for the current fiscal year.

Smith Douglas Homes declared that its board has initiated a share repurchase program on Wednesday, May 28th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 5.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Smith Douglas Homes

A number of institutional investors and hedge funds have recently made changes to their positions in SDHC. Geode Capital Management LLC lifted its holdings in Smith Douglas Homes by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 90,038 shares of the company’s stock valued at $2,310,000 after purchasing an additional 457 shares in the last quarter. M&T Bank Corp lifted its holdings in Smith Douglas Homes by 8.4% during the first quarter. M&T Bank Corp now owns 11,001 shares of the company’s stock valued at $215,000 after purchasing an additional 848 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in Smith Douglas Homes during the fourth quarter valued at approximately $27,000. PDT Partners LLC lifted its holdings in Smith Douglas Homes by 10.7% during the first quarter. PDT Partners LLC now owns 13,988 shares of the company’s stock valued at $273,000 after purchasing an additional 1,349 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in Smith Douglas Homes by 1.0% during the first quarter. New York State Common Retirement Fund now owns 185,119 shares of the company’s stock valued at $3,614,000 after purchasing an additional 1,744 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SDHC. Wedbush reissued a “neutral” rating and set a $18.00 price objective on shares of Smith Douglas Homes in a research report on Wednesday, May 14th. Wells Fargo & Company cut their price objective on shares of Smith Douglas Homes from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Monday, April 14th. Royal Bank of Canada set a $16.00 price objective on shares of Smith Douglas Homes and gave the company a “sector perform” rating in a research report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Smith Douglas Homes from $24.00 to $18.50 and set a “neutral” rating on the stock in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $18.90.

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.