JPMorgan Chase & Co. Grows Stock Position in Smith Douglas Homes Corp. (NYSE:SDHC)

JPMorgan Chase & Co. raised its stake in Smith Douglas Homes Corp. (NYSE:SDHC) by 1,551.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,343 shares of the company’s stock after purchasing an additional 20,051 shares during the quarter. JPMorgan Chase & Co.’s holdings in Smith Douglas Homes were worth $806,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SDHC. Wasatch Advisors LP bought a new position in Smith Douglas Homes during the 3rd quarter valued at $8,104,000. Seven Grand Managers LLC grew its stake in Smith Douglas Homes by 100.0% in the 3rd quarter. Seven Grand Managers LLC now owns 50,000 shares of the company’s stock valued at $1,889,000 after buying an additional 25,000 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Smith Douglas Homes by 260.2% during the 2nd quarter. Renaissance Technologies LLC now owns 33,500 shares of the company’s stock worth $783,000 after purchasing an additional 24,200 shares during the period. BNP Paribas Financial Markets bought a new stake in Smith Douglas Homes in the 3rd quarter valued at $591,000. Finally, Jane Street Group LLC bought a new stake in shares of Smith Douglas Homes in the 3rd quarter valued at approximately $530,000.

Insider Activity at Smith Douglas Homes

In related news, Director Jeffrey T. Jackson acquired 8,605 shares of the stock in a transaction dated Tuesday, November 19th. The stock was bought at an average price of $29.77 per share, with a total value of $256,170.85. Following the completion of the transaction, the director now directly owns 15,748 shares of the company’s stock, valued at approximately $468,817.96. The trade was a 120.47 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SDHC shares. JPMorgan Chase & Co. cut their target price on shares of Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Wedbush reaffirmed a “neutral” rating and issued a $20.00 target price on shares of Smith Douglas Homes in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company decreased 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 note on Monday, January 13th. Six analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $29.00.

Smith Douglas Homes Trading Down 0.5 %

Shares of NYSE:SDHC opened at $24.29 on Monday. The company has a 50 day moving average of $28.57 and a 200-day moving average of $32.05. Smith Douglas Homes Corp. has a one year low of $20.55 and a one year high of $39.50.

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.