Smith Douglas Homes (NYSE:SDHC) Trading Down 3.6% – Time to Sell?

Smith Douglas Homes Corp. (NYSE:SDHC) shares were down 3.6% during trading on Thursday . The stock traded as low as $26.45 and last traded at $26.51. Approximately 74,076 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 128,754 shares. The stock had previously closed at $27.50.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective 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 boosted their price objective on Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. cut their target price on 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. Finally, Wedbush reiterated a “neutral” rating and set a $20.00 price target on shares of Smith Douglas Homes in a research report on Tuesday, November 12th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $32.20.

Smith Douglas Homes Stock Performance

The company has a 50 day moving average of $32.29 and a 200-day moving average of $31.79.

Insider Activity

In related news, Director Jeffrey T. Jackson purchased 8,605 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were purchased at an average price of $29.77 per share, with a total value of $256,170.85. Following the acquisition, the director now directly 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SDHC. Federated Hermes Inc. lifted its stake 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 purchasing an additional 27,300 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Smith Douglas Homes by 1.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 450,193 shares of the company’s stock worth $10,526,000 after buying an additional 8,193 shares during the last quarter. Wasatch Advisors LP purchased a new stake in Smith Douglas Homes in the third quarter worth approximately $8,104,000. Thornburg Investment Management Inc. purchased a new stake in Smith Douglas Homes in the second quarter worth approximately $4,975,000. Finally, Marshall Wace LLP raised its stake in shares of Smith Douglas Homes by 17.0% during the second quarter. Marshall Wace LLP now owns 89,770 shares of the company’s stock worth $2,099,000 after acquiring an additional 13,036 shares in the last quarter.

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.