Russell Devendorf Acquires 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 stock in a transaction dated Friday, March 13th. The shares were bought at an average cost of $11.56 per share, with a total value of $11,560.00. Following the completion of the acquisition, the insider directly owned 286,928 shares of the company’s stock, valued at approximately $3,316,887.68. The trade was a 0.35% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Smith Douglas Homes Trading Up 2.7%

Shares of Smith Douglas Homes stock opened at $13.44 on Thursday. The stock has a market capitalization of $691.49 million, a price-to-earnings ratio of 11.29 and a beta of 1.04. Smith Douglas Homes Corp. has a twelve month low of $11.24 and a twelve month high of $23.50. The business’s 50 day simple moving average is $17.25 and its 200-day simple moving average is $17.87.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SDHC. Zacks Research downgraded shares of Smith Douglas Homes from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. BTIG Research initiated coverage on shares of Smith Douglas Homes in a research report on Monday, December 1st. They issued a “neutral” rating on the stock. Wall Street Zen raised shares of Smith Douglas Homes from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. JPMorgan Chase & Co. decreased their target price on shares of Smith Douglas Homes from $19.00 to $12.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Smith Douglas Homes in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $14.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. acquired a new position in shares of Smith Douglas Homes during the second quarter valued at $34,000. Tower Research Capital LLC TRC acquired a new stake in Smith Douglas Homes in the second quarter worth about $90,000. GSA Capital Partners LLP bought a new position in Smith Douglas Homes in the 3rd quarter valued at about $188,000. Price T Rowe Associates Inc. MD bought a new position in Smith Douglas Homes in the 4th quarter valued at about $182,000. Finally, AlphaQuest LLC acquired a new position in Smith Douglas Homes during the 3rd quarter valued at about $195,000.

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.