Massachusetts Financial Services Co. MA Sells 12,330 Shares of Smith Douglas Homes Corp. (NYSE:SDHC)

Massachusetts Financial Services Co. MA lowered its stake in shares of Smith Douglas Homes Corp. (NYSE:SDHC) by 2.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 437,863 shares of the company’s stock after selling 12,330 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Smith Douglas Homes were worth $16,542,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Smith Douglas Homes in the first quarter worth $565,000. Federated Hermes Inc. lifted its position in Smith Douglas Homes by 5.5% during the 2nd quarter. Federated Hermes Inc. now owns 527,300 shares of the company’s stock worth $12,328,000 after acquiring an additional 27,300 shares during the last quarter. Vanguard Group Inc. bought a new stake in Smith Douglas Homes during the first quarter valued at about $13,451,000. Renaissance Technologies LLC grew its position 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 during the last quarter. Finally, Seven Grand Managers LLC increased its stake 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 period.

Smith Douglas Homes Stock Down 1.3 %

Shares of SDHC stock opened at $33.14 on Tuesday. Smith Douglas Homes Corp. has a one year low of $20.55 and a one year high of $39.50. The stock has a fifty day moving average price of $35.06 and a 200 day moving average price of $31.10.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wells Fargo & Company increased their target price on Smith Douglas Homes from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $26.00 price objective on shares of Smith Douglas Homes in a research report on Thursday, August 15th. Bank of America boosted their target price on shares of Smith Douglas Homes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Wedbush reissued a “neutral” rating and issued a $20.00 price target on shares of Smith Douglas Homes in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. lowered shares of Smith Douglas Homes from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $41.00 to $36.00 in a research report on Monday. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat, Smith Douglas Homes presently has an average rating of “Hold” and a consensus target price of $32.40.

Insider Activity

In related news, Director Jeffrey T. Jackson acquired 8,605 shares of the stock in a transaction dated Tuesday, November 19th. The shares were bought at an average cost of $29.77 per share, for a total transaction of $256,170.85. Following the purchase, the director now owns 15,748 shares in the company, valued at approximately $468,817.96. This trade represents a 120.47 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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.