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

Smith Douglas Homes Corp. (NYSE:SDHC) insider Russell Devendorf purchased 1,000 shares of Smith Douglas Homes stock in a transaction that occurred on Friday, March 13th. The stock was bought at an average cost 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 $3,316,887.68. This trade represents a 0.35% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Smith Douglas Homes Stock Performance

Smith Douglas Homes stock traded down $0.26 during trading hours on Tuesday, hitting $13.02. The company had a trading volume of 193,190 shares, compared to its average volume of 99,825. The firm has a market cap of $669.93 million, a P/E ratio of 10.94 and a beta of 1.04. The company has a 50-day moving average price of $17.42 and a two-hundred day moving average price of $17.95. Smith Douglas Homes Corp. has a 1 year low of $11.24 and a 1 year high of $23.50.

Smith Douglas Homes (NYSE:SDHC) last posted its quarterly 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 the consensus estimate of $251.09 million. Smith Douglas Homes had a net margin of 1.10% and a negative return on equity of 1.03%. As a group, equities research analysts anticipate that Smith Douglas Homes Corp. will post 1.73 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Smith Douglas Homes

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