Insider Buying: Smith Douglas Homes Corp. (NYSE:SDHC) Director Buys 8,605 Shares of Stock

Smith Douglas Homes Corp. (NYSE:SDHC) Director Jeffrey T. Jackson acquired 8,605 shares of the business’s stock in a transaction 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 directly owns 15,748 shares of the company’s stock, valued at $468,817.96. This trade represents a 120.47 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Smith Douglas Homes Price Performance

SDHC opened at $33.59 on Friday. The company has a 50-day moving average of $35.12 and a 200-day moving average of $31.05. Smith Douglas Homes Corp. has a 1-year low of $20.55 and a 1-year high of $39.50.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. 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. Royal Bank of Canada restated a “sector perform” rating and set a $26.00 target price on shares of Smith Douglas Homes in a research note on Thursday, August 15th. Wedbush reaffirmed a “neutral” rating and set a $20.00 target price on shares of Smith Douglas Homes in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company increased their price target on Smith Douglas Homes from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $31.50.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. nVerses Capital LLC bought a new position in shares of Smith Douglas Homes during the third quarter valued at approximately $34,000. RiverPark Advisors LLC bought a new position in shares of Smith Douglas Homes during the second quarter worth about $120,000. Quantbot Technologies LP increased its holdings in shares of Smith Douglas Homes by 287.0% in the 3rd 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 period. Sandia Investment Management LP bought a new stake in Smith Douglas Homes in the 1st quarter valued at about $178,000. Finally, Atria Investments Inc acquired a new position in Smith Douglas Homes during the 3rd quarter valued at about $204,000.

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.