Smith Douglas Homes (NYSE:SDHC) Shares Down 4.9% – What’s Next?

Smith Douglas Homes Corp. (NYSE:SDHC) shares fell 4.9% on Thursday . The stock traded as low as $29.50 and last traded at $29.50. 86,516 shares changed hands during trading, a decline of 33% from the average session volume of 128,505 shares. The stock had previously closed at $31.01.

Analyst Ratings Changes

A number of research analysts recently weighed in on SDHC shares. Wells Fargo & Company raised their price target on shares of Smith Douglas Homes from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Bank of America raised their price objective on Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Wedbush reissued a “neutral” rating and issued a $20.00 price target on shares of Smith Douglas Homes in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat, Smith Douglas Homes presently has an average rating of “Hold” and an average target price of $32.20.

Smith Douglas Homes Price Performance

The stock’s 50-day simple moving average is $33.27 and its 200 day simple moving average is $31.73.

Insiders Place Their Bets

In other Smith Douglas Homes news, Director Jeffrey T. Jackson bought 8,605 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was acquired at an average price of $29.77 per share, for a total transaction of $256,170.85. Following the completion of the purchase, the director now owns 15,748 shares of the company’s stock, valued at approximately $468,817.96. This represents a 120.47 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SDHC. Wasatch Advisors LP acquired a new stake in shares of Smith Douglas Homes in the 3rd quarter worth $8,104,000. Thornburg Investment Management Inc. acquired a new position in Smith Douglas Homes during the second quarter worth about $4,975,000. Federated Hermes Inc. lifted its holdings in shares of Smith Douglas Homes by 5.5% in the second quarter. Federated Hermes Inc. now owns 527,300 shares of the company’s stock valued at $12,328,000 after purchasing an additional 27,300 shares in the last quarter. Seven Grand Managers LLC increased its stake in shares of 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 purchasing an additional 25,000 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in 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 buying an additional 24,200 shares in the last quarter.

About Smith Douglas Homes

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.