Insider Buying: Smith Douglas Homes (NYSE:SDHC) Director Purchases $249,081.00 in Stock

Smith Douglas Homes Corp. (NYSE:SDHC) Director George Ervin Perdue III bought 20,300 shares of the company’s stock in a transaction on Friday, March 13th. The shares were acquired at an average price of $12.27 per share, with a total value of $249,081.00. Following the completion of the acquisition, the director directly owned 60,684 shares in the company, valued at $744,592.68. This represents a 50.27% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Smith Douglas Homes Trading Down 13.4%

Shares of SDHC opened at $11.60 on Friday. Smith Douglas Homes Corp. has a 12-month low of $11.24 and a 12-month high of $23.50. The stock has a market cap of $596.87 million, a P/E ratio of 9.75 and a beta of 1.04. The company has a 50-day moving average of $17.13 and a two-hundred day moving average of $17.83.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on SDHC. Zacks Research downgraded Smith Douglas Homes from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. BTIG Research began coverage on Smith Douglas Homes in a research report on Monday, December 1st. They issued a “neutral” rating on the stock. Wall Street Zen raised Smith Douglas Homes from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. JPMorgan Chase & Co. dropped their price objective on Smith Douglas Homes from $19.00 to $12.00 and set a “neutral” rating for the company in a research report on Monday. Finally, UBS Group reissued a “positive” rating on shares of Smith Douglas Homes in a research note on Monday, December 1st. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $14.80.

Institutional Trading of Smith Douglas Homes

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in Smith Douglas Homes by 8.8% in the 2nd quarter. Geode Capital Management LLC now owns 101,896 shares of the company’s stock valued at $1,980,000 after acquiring an additional 8,201 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Smith Douglas Homes by 5.8% during the second quarter. First Trust Advisors LP now owns 29,025 shares of the company’s stock worth $564,000 after purchasing an additional 1,583 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Smith Douglas Homes in the second quarter valued at $644,000. Raymond James Financial Inc. purchased a new stake in shares of Smith Douglas Homes in the second quarter valued at $34,000. Finally, Wasatch Advisors LP increased its stake in Smith Douglas Homes by 4.4% in the second quarter. Wasatch Advisors LP now owns 1,279,357 shares of the company’s stock valued at $24,845,000 after purchasing an additional 53,358 shares during the last quarter.

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.