Smith Douglas Homes Corp. (NYSE:SDHC) Director Jeffrey T. Jackson Purchases 8,605 Shares

Smith Douglas Homes Corp. (NYSE:SDHC) Director Jeffrey T. Jackson acquired 8,605 shares of the company’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 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Smith Douglas Homes Price Performance

Shares of NYSE:SDHC traded up $0.90 during midday trading on Friday, hitting $32.42. The stock had a trading volume of 9,234 shares, compared to its average volume of 133,186. The business’s 50-day simple moving average is $35.18 and its 200-day simple moving average is $31.03. Smith Douglas Homes Corp. has a 12 month low of $20.55 and a 12 month high of $39.50.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SDHC. Wedbush reiterated a “neutral” rating and set a $20.00 price objective on shares of Smith Douglas Homes in a report on Tuesday, November 12th. Wells Fargo & Company lifted 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. Royal Bank of Canada reissued a “sector perform” rating and set a $26.00 price objective on shares of Smith Douglas Homes in a research report on Thursday, August 15th. Finally, Bank of America boosted their price objective on shares of Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $31.50.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Federated Hermes Inc. increased its position in Smith Douglas Homes by 5.5% during the second quarter. Federated Hermes Inc. now owns 527,300 shares of the company’s stock worth $12,328,000 after acquiring an additional 27,300 shares during the period. Hood River Capital Management LLC acquired a new stake in shares of Smith Douglas Homes during the 1st quarter worth approximately $14,321,000. Vanguard Group Inc. bought a new stake in shares of Smith Douglas Homes during the 1st quarter worth $13,451,000. Massachusetts Financial Services Co. MA grew its position in Smith Douglas Homes by 1.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 450,193 shares of the company’s stock valued at $10,526,000 after acquiring an additional 8,193 shares during the last quarter. Finally, Long Pond Capital LP acquired a new stake in shares of Smith Douglas Homes in the 1st quarter valued at approximately $12,388,000.

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.