Smith Douglas Homes (NYSE:SDHC) Insider Russell Devendorf Acquires 2,000 Shares

Smith Douglas Homes Corp. (NYSE:SDHC) insider Russell Devendorf bought 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $10.88 per share, for a total transaction of $21,760.00. Following the transaction, the insider owned 315,461 shares in the company, valued at $3,432,215.68. The trade was a 0.64% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

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

Smith Douglas Homes Stock Performance

Shares of Smith Douglas Homes stock opened at $11.68 on Friday. The business’s 50 day simple moving average is $12.98 and its 200 day simple moving average is $16.36. Smith Douglas Homes Corp. has a 52-week low of $10.72 and a 52-week high of $23.50. The firm has a market cap of $593.11 million, a PE ratio of 12.29 and a beta of 1.31.

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

Institutional Investors Weigh In On Smith Douglas Homes

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of Smith Douglas Homes during the 2nd quarter valued at $34,000. Tower Research Capital LLC TRC bought a new stake in shares of Smith Douglas Homes during the 2nd quarter valued at $90,000. Hsbc Holdings PLC bought a new stake in shares of Smith Douglas Homes during the 1st quarter worth $168,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Smith Douglas Homes during the 4th quarter worth $182,000. Finally, Ruane Cunniff & Goldfarb L.P. lifted its position in shares of Smith Douglas Homes by 18.7% during the 1st quarter. Ruane Cunniff & Goldfarb L.P. now owns 14,490 shares of the company’s stock worth $185,000 after buying an additional 2,281 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SDHC. Wall Street Zen raised Smith Douglas Homes from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Citizens Jmp began coverage on Smith Douglas Homes in a research report on Tuesday, March 24th. They set a “market perform” rating on the stock. Zacks Research raised Smith Douglas Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Wells Fargo & Company lowered their price target on Smith Douglas Homes from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 12th. Finally, JPMorgan Chase & Co. lowered their price target on Smith Douglas Homes from $19.00 to $12.00 and set a “neutral” rating on the stock in a research report on Monday, March 16th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $13.90.

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