Smith Douglas Homes (NYSE:SDHC) Trading Down 3.6% – Here’s Why

Smith Douglas Homes Corp. (NYSE:SDHC)’s share price fell 3.6% during mid-day trading on Thursday . The stock traded as low as $26.45 and last traded at $26.51. 74,076 shares were traded during mid-day trading, a decline of 42% from the average session volume of 128,754 shares. The stock had previously closed at $27.50.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SDHC shares. Wells Fargo & Company lifted their target price on shares of Smith Douglas Homes from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Bank of America increased their target price on Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. reduced 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 report on Friday, December 13th. Finally, Wedbush reaffirmed a “neutral” rating and set a $20.00 price target on shares of Smith Douglas Homes in a report on Tuesday, November 12th. Six research analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $32.20.

Smith Douglas Homes Trading Down 0.2 %

The company’s fifty day simple moving average is $32.70 and its two-hundred day simple moving average is $31.81.

Insider Activity

In related news, Director Jeffrey T. Jackson acquired 8,605 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were acquired at an average cost of $29.77 per share, for a total transaction of $256,170.85. Following the completion of the purchase, the director now directly owns 15,748 shares in the company, valued at $468,817.96. This trade represents a 120.47 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Federated Hermes Inc. grew its holdings in shares of Smith Douglas Homes by 5.5% during the 2nd quarter. Federated Hermes Inc. now owns 527,300 shares of the company’s stock valued at $12,328,000 after acquiring an additional 27,300 shares in the last quarter. Renaissance Technologies LLC increased its position in Smith Douglas Homes by 260.2% in 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 last quarter. Atria Investments Inc purchased a new stake in shares of Smith Douglas Homes during the 3rd quarter worth about $204,000. BNP Paribas Financial Markets bought a new stake in shares of Smith Douglas Homes in the 3rd quarter valued at approximately $591,000. Finally, Seven Grand Managers LLC increased its holdings in 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 buying an additional 25,000 shares during the last quarter.

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.