Arcadia Investment Management Corp MI Takes Position in Smith Douglas Homes Corp. (NYSE:SDHC)

Arcadia Investment Management Corp MI purchased a new position in shares of Smith Douglas Homes Corp. (NYSE:SDHC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,038 shares of the company’s stock, valued at approximately $27,000.

A number of other institutional investors have also recently added to or reduced their stakes in SDHC. Quantbot Technologies LP increased its position in shares of Smith Douglas Homes by 287.0% during the third quarter. Quantbot Technologies LP now owns 3,692 shares of the company’s stock worth $139,000 after acquiring an additional 2,738 shares during the last quarter. US Bancorp DE grew its stake in Smith Douglas Homes by 68.6% during the 3rd quarter. US Bancorp DE now owns 9,896 shares of the company’s stock valued at $374,000 after purchasing an additional 4,027 shares in the last quarter. Atria Investments Inc purchased a new stake in Smith Douglas Homes during the 3rd quarter worth approximately $204,000. XTX Topco Ltd acquired a new position in shares of Smith Douglas Homes in the 3rd quarter valued at approximately $246,000. Finally, Daiwa Securities Group Inc. raised its position in shares of Smith Douglas Homes by 31.2% in the 3rd quarter. Daiwa Securities Group Inc. now owns 29,487 shares of the company’s stock valued at $1,114,000 after purchasing an additional 7,015 shares in the last quarter.

Wall Street Analysts Forecast Growth

SDHC has been the subject of a number of research analyst reports. Bank of America lowered shares of Smith Douglas Homes from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $33.00 to $22.00 in a research note on Monday, January 27th. Wedbush reissued a “neutral” rating and issued a $20.00 target price on shares of Smith Douglas Homes in a research report on Tuesday, November 12th. 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, Wells Fargo & Company decreased their price target on Smith Douglas Homes from $33.00 to $24.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $25.40.

Smith Douglas Homes Stock Performance

NYSE:SDHC opened at $23.63 on Friday. The company has a 50-day moving average of $25.10 and a 200-day moving average of $31.36. Smith Douglas Homes Corp. has a twelve month low of $20.55 and a twelve month high of $39.50.

Smith Douglas Homes 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.