Quantbot Technologies LP Buys 2,738 Shares of Smith Douglas Homes Corp. (NYSE:SDHC)

Quantbot Technologies LP raised its stake in Smith Douglas Homes Corp. (NYSE:SDHC) by 287.0% during the third quarter, Holdings Channel reports. The fund owned 3,692 shares of the company’s stock after buying an additional 2,738 shares during the period. Quantbot Technologies LP’s holdings in Smith Douglas Homes were worth $139,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of SDHC. nVerses Capital LLC purchased a new position in Smith Douglas Homes in the third quarter valued at approximately $34,000. RiverPark Advisors LLC purchased a new position in shares of Smith Douglas Homes during the 2nd quarter valued at $120,000. Atria Investments Inc bought a new position in shares of Smith Douglas Homes during the 3rd quarter worth $204,000. Portside Wealth Group LLC purchased a new stake in Smith Douglas Homes in the 3rd quarter worth about $283,000. Finally, Victory Capital Management Inc. bought a new stake in Smith Douglas Homes in the 3rd quarter valued at about $349,000.

Smith Douglas Homes Stock Up 1.4 %

Smith Douglas Homes stock opened at $32.94 on Friday. Smith Douglas Homes Corp. has a fifty-two week low of $20.55 and a fifty-two week high of $39.50. The firm’s fifty day moving average price is $34.53 and its 200-day moving average price is $31.31.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SDHC shares. Wells Fargo & Company increased their target price on shares of Smith Douglas Homes from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. downgraded shares of Smith Douglas Homes from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $41.00 to $36.00 in a report on Monday, November 25th. Wedbush reissued a “neutral” rating and set a $20.00 target price on shares of Smith Douglas Homes in a report on Tuesday, November 12th. Bank of America lifted their price target on Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $26.00 price objective on shares of Smith Douglas Homes in a research note on Thursday, August 15th. Six research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $32.40.

Insiders Place Their Bets

In related news, Director Jeffrey T. Jackson bought 8,605 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was bought at an average cost of $29.77 per share, for a total transaction of $256,170.85. Following the completion of the transaction, the director now 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 filing with the Securities & Exchange Commission, which is available through this hyperlink.

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.