Insider Buying: Smith Douglas Homes Corp. (NYSE:SDHC) Director Acquires 8,605 Shares of Stock

Smith Douglas Homes Corp. (NYSE:SDHC) Director Jeffrey T. Jackson bought 8,605 shares of Smith Douglas Homes stock in a transaction dated 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 completion of the purchase, the director now directly owns 15,748 shares of the company’s stock, valued at approximately $468,817.96. This trade represents a 120.47 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Smith Douglas Homes Trading Up 0.9 %

Shares of NYSE SDHC traded up $0.28 during mid-day trading on Thursday, reaching $31.52. The company had a trading volume of 61,977 shares, compared to its average volume of 133,742. Smith Douglas Homes Corp. has a 52 week low of $20.55 and a 52 week high of $39.50. The business’s 50-day moving average is $35.28 and its 200-day moving average is $31.03.

Analyst Ratings Changes

A number of research firms have recently weighed in on SDHC. Wedbush reaffirmed a “neutral” rating and issued a $20.00 target price on shares of Smith Douglas Homes in a research report on Tuesday, November 12th. Bank of America boosted their target price on Smith Douglas Homes from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Wells Fargo & Company increased 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 report on Monday, October 7th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $26.00 target price on shares of Smith Douglas Homes in a research note on Thursday, August 15th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $31.50.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in Smith Douglas Homes in the third quarter worth about $344,000. M&T Bank Corp purchased a new stake in shares of Smith Douglas Homes in the 3rd quarter worth approximately $436,000. XTX Topco Ltd purchased a new position in Smith Douglas Homes during the third quarter valued at approximately $246,000. Jane Street Group LLC purchased a new stake in shares of Smith Douglas Homes during the 3rd quarter worth $530,000. Finally, Stifel Financial Corp grew its stake in Smith Douglas Homes by 39.0% in the third quarter. Stifel Financial Corp now owns 26,074 shares of the company’s stock valued at $985,000 after purchasing an additional 7,310 shares during the last quarter.

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.