Smith Douglas Homes Corp. (NYSE:SDHC) Receives Average Recommendation of “Hold” from Brokerages

Smith Douglas Homes Corp. (NYSE:SDHC) has received an average recommendation of “Hold” from the six brokerages that are covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $29.00.

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Smith Douglas Homes from $33.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. cut their target price on shares of Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Finally, Wedbush reissued a “neutral” rating and issued a $20.00 price objective on shares of Smith Douglas Homes in a research note on Tuesday, November 12th.

Insider Buying and Selling at Smith Douglas Homes

In other Smith Douglas Homes news, Director Jeffrey T. Jackson bought 8,605 shares of the stock in a transaction dated Tuesday, November 19th. The stock was purchased at an average cost of $29.77 per share, for a total transaction of $256,170.85. Following the completion of the acquisition, the director now owns 15,748 shares of the company’s stock, valued at approximately $468,817.96. This trade represents a 120.47 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Investors Weigh In On Smith Douglas Homes

Several institutional investors and hedge funds have recently made changes to their positions in SDHC. Wasatch Advisors LP purchased a new position in shares of Smith Douglas Homes in the third quarter worth approximately $8,104,000. Seven Grand Managers LLC increased its holdings in shares of Smith Douglas Homes by 100.0% in the third quarter. Seven Grand Managers LLC now owns 50,000 shares of the company’s stock worth $1,889,000 after purchasing an additional 25,000 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Smith Douglas Homes by 260.2% in the second quarter. Renaissance Technologies LLC now owns 33,500 shares of the company’s stock valued at $783,000 after purchasing an additional 24,200 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Smith Douglas Homes by 1,551.9% during the third quarter. JPMorgan Chase & Co. now owns 21,343 shares of the company’s stock worth $806,000 after acquiring an additional 20,051 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in Smith Douglas Homes during the third quarter valued at $591,000.

Smith Douglas Homes Stock Down 0.5 %

Smith Douglas Homes stock opened at $24.29 on Monday. The stock’s 50 day moving average is $28.57 and its 200 day moving average is $31.98. Smith Douglas Homes has a one year low of $20.55 and a one year high of $39.50.

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.