Smith Douglas Homes Corp. (NYSE:SDHC) Director George Ervin Perdue III Purchases 1,400 Shares

Smith Douglas Homes Corp. (NYSE:SDHC) Director George Ervin Perdue III bought 1,400 shares of the company’s stock in a transaction on Friday, June 13th. The stock was purchased at an average cost of $18.25 per share, for a total transaction of $25,550.00. Following the completion of the transaction, the director now owns 40,384 shares in the company, valued at approximately $737,008. The trade was a 3.59% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

George Ervin Perdue III also recently made the following trade(s):

• On Thursday, June 12th, George Ervin Perdue III purchased 500 shares of Smith Douglas Homes stock. The shares were purchased at an average price of $19.40 per share, with a total value of $9,700.00.
• On Wednesday, June 11th, George Ervin Perdue III acquired 3,500 shares of Smith Douglas Homes stock. The stock was purchased at an average price of $19.74 per share, for a total transaction of $69,090.00.
• On Wednesday, June 4th, George Ervin Perdue III bought 2,412 shares of Smith Douglas Homes stock. The stock was acquired at an average price of $18.83 per share, with a total value of $45,417.96.
• On Tuesday, June 3rd, George Ervin Perdue III bought 10,000 shares of Smith Douglas Homes stock. The stock was acquired at an average cost of $19.09 per share, with a total value of $190,900.00.
• On Monday, June 2nd, George Ervin Perdue III purchased 6,840 shares of Smith Douglas Homes stock. The shares were acquired at an average price of $18.34 per share, for a total transaction of $125,445.60.

Smith Douglas Homes Trading Down 4.9%

NYSE SDHC opened at $17.62 on Wednesday. Smith Douglas Homes Corp. has a 1 year low of $16.28 and a 1 year high of $39.50. The company has a fifty day simple moving average of $18.90 and a 200 day simple moving average of $22.31. The company has a market cap of $906.20 million, a P/E ratio of 10.19, a P/E/G ratio of 9.54 and a beta of 1.05.

Smith Douglas Homes declared that its board has authorized a share buyback program on Wednesday, May 28th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to buy up to 5.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Smith Douglas Homes

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of Smith Douglas Homes by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 90,038 shares of the company’s stock valued at $2,310,000 after acquiring an additional 457 shares during the period. M&T Bank Corp raised its stake in Smith Douglas Homes by 8.4% during the 1st quarter. M&T Bank Corp now owns 11,001 shares of the company’s stock valued at $215,000 after purchasing an additional 848 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in Smith Douglas Homes in the 4th quarter valued at $27,000. PDT Partners LLC grew its position in Smith Douglas Homes by 10.7% in the 1st quarter. PDT Partners LLC now owns 13,988 shares of the company’s stock worth $273,000 after purchasing an additional 1,349 shares during the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of Smith Douglas Homes by 1.0% during the 1st quarter. New York State Common Retirement Fund now owns 185,119 shares of the company’s stock worth $3,614,000 after purchasing an additional 1,744 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Royal Bank Of Canada set a $16.00 price objective on shares of Smith Douglas Homes and gave the stock a “sector perform” rating in a report on Tuesday, May 20th. Wells Fargo & Company decreased their price target on Smith Douglas Homes from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. lowered their price objective on Smith Douglas Homes from $24.00 to $18.50 and set a “neutral” rating on the stock in a report on Wednesday, May 21st. Finally, Wedbush reissued a “neutral” rating and issued a $18.00 price objective on shares of Smith Douglas Homes in a research note on Wednesday, May 14th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, Smith Douglas Homes currently has a consensus rating of “Hold” and a consensus price target of $18.90.

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.