Smith Douglas Homes Corp. $SDHC Position Reduced by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC decreased its position in shares of Smith Douglas Homes Corp. (NYSE:SDHC) by 0.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,797,091 shares of the company’s stock after selling 5,974 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 3.49% of Smith Douglas Homes worth $35,079,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SDHC. Geode Capital Management LLC raised its holdings in Smith Douglas Homes by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 90,038 shares of the company’s stock worth $2,310,000 after purchasing an additional 457 shares in the last quarter. Jane Street Group LLC raised its holdings in Smith Douglas Homes by 69.9% during the fourth quarter. Jane Street Group LLC now owns 23,837 shares of the company’s stock worth $611,000 after purchasing an additional 9,805 shares in the last quarter. Corton Capital Inc. raised its holdings in Smith Douglas Homes by 61.8% during the fourth quarter. Corton Capital Inc. now owns 25,229 shares of the company’s stock worth $647,000 after purchasing an additional 9,640 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Smith Douglas Homes during the fourth quarter worth approximately $456,000. Finally, Millennium Management LLC increased its holdings in shares of Smith Douglas Homes by 50.0% in the fourth quarter. Millennium Management LLC now owns 56,459 shares of the company’s stock valued at $1,448,000 after buying an additional 18,810 shares in the last quarter.

Analyst Ratings Changes

SDHC has been the topic of several research reports. Wedbush reaffirmed a “neutral” rating and issued a $18.00 price target on shares of Smith Douglas Homes in a report on Wednesday, May 14th. Royal Bank Of Canada set a $16.00 price target on Smith Douglas Homes and gave the company a “sector perform” rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. dropped their price target 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, Wall Street Zen cut Smith Douglas Homes from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $18.90.

Smith Douglas Homes Stock Up 7.4%

Shares of Smith Douglas Homes stock opened at $20.6470 on Monday. Smith Douglas Homes Corp. has a 12 month low of $16.28 and a 12 month high of $39.50. The stock has a market cap of $1.06 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 13.55 and a beta of 1.05. The business has a fifty day simple moving average of $19.67 and a 200-day simple moving average of $19.85.

Smith Douglas Homes (NYSE:SDHC) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.38). Smith Douglas Homes had a net margin of 1.43% and a return on equity of 1.74%. The business had revenue of $223.92 million for the quarter, compared to analyst estimates of $216.01 million. Analysts expect that Smith Douglas Homes Corp. will post 1.73 EPS for the current fiscal year.

Smith Douglas Homes declared that its board has authorized a stock buyback plan on Wednesday, May 28th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 5.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Smith Douglas Homes

In related news, Director George Ervin Perdue III purchased 10,000 shares of Smith Douglas Homes stock in a transaction dated Tuesday, June 3rd. The stock was acquired at an average cost of $19.09 per share, with a total value of $190,900.00. Following the completion of the transaction, the director directly owned 24,345 shares of the company’s stock, valued at $464,746.05. This trade represents a 69.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders bought 24,652 shares of company stock valued at $466,104.

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.