Russell Devendorf Purchases 1,000 Shares of Smith Douglas Homes (NYSE:SDHC) Stock

Smith Douglas Homes Corp. (NYSE:SDHC) insider Russell Devendorf acquired 1,000 shares of the stock in a transaction dated Tuesday, August 25th. The shares were bought at an average price of $12.34 per share, with a total value of $12,340.00. Following the completion of the purchase, the insider directly owned 317,461 shares of the company’s stock, valued at approximately $3,917,468.74. This trade represents a 0.32% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link.

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

• On Thursday, August 20th, Russell Devendorf bought 1,000 shares of Smith Douglas Homes stock. The stock was purchased at an average cost of $12.68 per share, for a total transaction of $12,680.00.

Smith Douglas Homes Price Performance

Shares of SDHC stock opened at $12.08 on Friday. The business has a fifty day moving average of $14.52 and a 200 day moving average of $14.04. Smith Douglas Homes Corp. has a 1 year low of $10.72 and a 1 year high of $23.49. The firm has a market capitalization of $614.00 million, a price-to-earnings ratio of 16.78 and a beta of 0.88.

Smith Douglas Homes (NYSE:SDHC) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.08). The firm had revenue of $273.03 million for the quarter, compared to analysts’ expectations of $258.10 million. Smith Douglas Homes had a net margin of 0.64% and a negative return on equity of 0.19%. As a group, equities research analysts expect that Smith Douglas Homes Corp. will post 0.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SDHC has been the subject of several analyst reports. Zacks Research raised Smith Douglas Homes from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Smith Douglas Homes in a report on Friday, July 17th. Finally, Wall Street Zen upgraded Smith Douglas Homes from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Smith Douglas Homes has an average rating of “Reduce” and a consensus target price of $13.90.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SDHC. State Street Corp boosted its holdings in Smith Douglas Homes by 2.7% in the 4th quarter. State Street Corp now owns 42,312 shares of the company’s stock worth $710,000 after buying an additional 1,100 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Smith Douglas Homes by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 104,422 shares of the company’s stock valued at $1,752,000 after acquiring an additional 1,406 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Smith Douglas Homes by 5.8% in the second quarter. First Trust Advisors LP now owns 29,025 shares of the company’s stock worth $564,000 after acquiring an additional 1,583 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Smith Douglas Homes in the second quarter worth approximately $34,000. Finally, Ruane Cunniff & Goldfarb L.P. raised its stake in Smith Douglas Homes by 18.7% in the 1st quarter. Ruane Cunniff & Goldfarb L.P. now owns 14,490 shares of the company’s stock valued at $185,000 after purchasing an additional 2,281 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. was founded in 2008 and is headquartered in Woodstock, Georgia.