Smith Douglas Homes Corp. (NYSE:SDHC) Given Consensus Rating of “Hold” by Brokerages

Smith Douglas Homes Corp. (NYSE:SDHC) has earned a consensus recommendation of “Hold” from the six brokerages that are presently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $29.00.

SDHC has been the subject of a number of research reports. Wells Fargo & Company decreased their price objective on Smith Douglas Homes from $33.00 to $24.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Wedbush reissued a “neutral” rating and issued a $20.00 price objective on shares of Smith Douglas Homes in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. decreased 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 report on Friday, December 13th.

Insiders Place Their Bets

In related news, Director Jeffrey T. Jackson acquired 8,605 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were 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 directly owns 15,748 shares in the company, valued at approximately $468,817.96. This trade represents a 120.47 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Institutional Investors Weigh In On Smith Douglas Homes

A number of institutional investors have recently made changes to their positions in SDHC. Atria Investments Inc acquired a new stake in shares of Smith Douglas Homes during the 3rd quarter worth $204,000. Renaissance Technologies LLC increased its stake in shares of Smith Douglas Homes by 260.2% in the 2nd 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. BNP Paribas Financial Markets acquired a new position in Smith Douglas Homes during the 3rd quarter worth approximately $591,000. Seven Grand Managers LLC grew its position in Smith Douglas Homes by 100.0% during the 3rd quarter. Seven Grand Managers LLC now owns 50,000 shares of the company’s stock worth $1,889,000 after acquiring an additional 25,000 shares during the last quarter. Finally, Marshall Wace LLP raised its position in Smith Douglas Homes by 17.0% in the second quarter. Marshall Wace LLP now owns 89,770 shares of the company’s stock valued at $2,099,000 after purchasing an additional 13,036 shares during the last quarter.

Smith Douglas Homes Stock Down 0.5 %

Shares of NYSE SDHC opened at $24.29 on Monday. The company has a fifty day moving average price of $28.57 and a 200 day moving average price of $31.98. Smith Douglas Homes has a 1-year low of $20.55 and a 1-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.