Smith Douglas Homes Corp. (NYSE:SDHC) Short Interest Up 18.7% in December

Smith Douglas Homes Corp. (NYSE:SDHC) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 516,800 shares, an increase of 18.7% from the November 30th total of 435,400 shares. Approximately 6.1% of the shares of the stock are short sold. Based on an average daily volume of 67,700 shares, the days-to-cover ratio is presently 7.6 days.

Smith Douglas Homes Stock Performance

NYSE SDHC traded down $0.35 during trading on Tuesday, hitting $25.64. The stock had a trading volume of 302,847 shares, compared to its average volume of 131,805. Smith Douglas Homes has a twelve month low of $20.55 and a twelve month high of $39.50. The firm has a 50 day moving average price of $31.96 and a 200 day moving average price of $31.89.

Insider Activity at Smith Douglas Homes

In related news, Director Jeffrey T. Jackson bought 8,605 shares of the company’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 acquisition, the director now directly owns 15,748 shares in the company, valued at $468,817.96. This represents a 120.47 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Institutional Investors Weigh In On Smith Douglas Homes

Several large investors have recently added to or reduced their stakes in SDHC. Wasatch Advisors LP purchased a new position in Smith Douglas Homes in the 3rd quarter valued at approximately $8,104,000. Thornburg Investment Management Inc. purchased a new position in Smith Douglas Homes in the second quarter valued at $4,975,000. Federated Hermes Inc. grew its stake in Smith Douglas Homes by 5.5% during the 2nd quarter. Federated Hermes Inc. now owns 527,300 shares of the company’s stock worth $12,328,000 after purchasing an additional 27,300 shares in the last quarter. Seven Grand Managers LLC increased its holdings in 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 during the period. Finally, Renaissance Technologies LLC increased its holdings in Smith Douglas Homes by 260.2% during the 2nd quarter. Renaissance Technologies LLC now owns 33,500 shares of the company’s stock worth $783,000 after purchasing an additional 24,200 shares during the period.

Analysts Set New Price Targets

Several research firms have weighed in on SDHC. Wells Fargo & Company boosted their target price on shares of Smith Douglas Homes from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Wedbush reiterated a “neutral” rating and issued a $20.00 price objective on shares of Smith Douglas Homes in a report on Tuesday, November 12th. Bank of America raised their target price on Smith Douglas Homes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Finally, JPMorgan Chase & Co. decreased their price target on Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating on the stock 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 currently has a consensus rating of “Hold” and a consensus target price of $32.20.

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.