Russell Devendorf Purchases 2,000 Shares of Smith Douglas Homes (NYSE:SDHC) Stock

Smith Douglas Homes Corp. (NYSE:SDHC) insider Russell Devendorf purchased 2,000 shares of Smith Douglas Homes stock in a transaction on Wednesday, May 20th. The shares were acquired at an average price of $10.88 per share, for a total transaction of $21,760.00. Following the completion of the transaction, the insider directly owned 315,461 shares of the company’s stock, valued at approximately $3,432,215.68. The trade was a 0.64% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Russell Devendorf also recently made the following trade(s):

• On Friday, March 13th, Russell Devendorf purchased 1,000 shares of Smith Douglas Homes stock. The shares were acquired at an average cost of $11.56 per share, for a total transaction of $11,560.00.

Smith Douglas Homes Trading Up 0.8%

Shares of SDHC traded up $0.09 during mid-day trading on Friday, reaching $11.72. The company’s stock had a trading volume of 52,633 shares, compared to its average volume of 116,257. Smith Douglas Homes Corp. has a 52 week low of $10.72 and a 52 week high of $23.50. The stock has a market cap of $595.18 million, a PE ratio of 12.34 and a beta of 1.31. The company’s fifty day moving average price is $12.98 and its two-hundred day moving average price is $16.39.

Smith Douglas Homes (NYSE:SDHC) last released its earnings results on Wednesday, April 29th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. The company had revenue of $206.44 million for the quarter, compared to analyst estimates of $200.70 million. Smith Douglas Homes had a net margin of 0.90% and a negative return on equity of 0.78%. Research analysts anticipate that Smith Douglas Homes Corp. will post 0.35 EPS for the current year.

Hedge Funds Weigh In On Smith Douglas Homes

A number of hedge funds have recently modified their holdings of the company. First Eagle Investment Management LLC raised its stake in shares of Smith Douglas Homes by 38.0% during the third quarter. First Eagle Investment Management LLC now owns 331,674 shares of the company’s stock valued at $5,857,000 after acquiring an additional 91,292 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Smith Douglas Homes by 5.8% in the second quarter. First Trust Advisors LP now owns 29,025 shares of the company’s stock worth $564,000 after purchasing an additional 1,583 shares during the last quarter. Marshall Wace LLP purchased a new position in Smith Douglas Homes during the 2nd quarter valued at about $644,000. Wasatch Advisors LP increased its holdings in Smith Douglas Homes by 4.4% during the 2nd quarter. Wasatch Advisors LP now owns 1,279,357 shares of the company’s stock valued at $24,845,000 after purchasing an additional 53,358 shares during the period. Finally, Wells Fargo & Company MN raised its position in Smith Douglas Homes by 5.1% during the 4th quarter. Wells Fargo & Company MN now owns 128,597 shares of the company’s stock valued at $2,157,000 after purchasing an additional 6,191 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SDHC. Wells Fargo & Company decreased their price objective on Smith Douglas Homes from $18.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, March 12th. JPMorgan Chase & Co. dropped their target price on Smith Douglas Homes from $19.00 to $12.00 and set a “neutral” rating for the company in a report on Monday, March 16th. Zacks Research upgraded Smith Douglas Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Smith Douglas Homes in a research note on Tuesday, April 21st. Finally, Citizens Jmp started coverage on Smith Douglas Homes in a research report on Tuesday, March 24th. They issued a “market perform” rating for the company. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $13.90.

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. was founded in 2008 and is headquartered in Woodstock, Georgia.