Envestnet Asset Management Inc. Sells 7,932 Shares of Smith Douglas Homes Corp. $SDHC

Envestnet Asset Management Inc. lowered its holdings in shares of Smith Douglas Homes Corp. (NYSE:SDHC) by 13.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 51,161 shares of the company’s stock after selling 7,932 shares during the period. Envestnet Asset Management Inc.’s holdings in Smith Douglas Homes were worth $994,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SDHC. Wellington Management Group LLP grew its position in shares of Smith Douglas Homes by 32.7% during the 1st quarter. Wellington Management Group LLP now owns 1,211,274 shares of the company’s stock worth $23,644,000 after buying an additional 298,227 shares during the period. Beck Mack & Oliver LLC grew its holdings in Smith Douglas Homes by 20.2% in the first quarter. Beck Mack & Oliver LLC now owns 840,975 shares of the company’s stock worth $16,416,000 after purchasing an additional 141,545 shares during the period. Trexquant Investment LP grew its holdings in Smith Douglas Homes by 93.1% in the first quarter. Trexquant Investment LP now owns 16,420 shares of the company’s stock worth $321,000 after purchasing an additional 7,916 shares during the period. Victory Capital Management Inc. increased its stake in Smith Douglas Homes by 80.2% in the first quarter. Victory Capital Management Inc. now owns 14,395 shares of the company’s stock valued at $281,000 after purchasing an additional 6,406 shares in the last quarter. Finally, PDT Partners LLC raised its holdings in shares of Smith Douglas Homes by 10.7% during the first quarter. PDT Partners LLC now owns 13,988 shares of the company’s stock valued at $273,000 after purchasing an additional 1,349 shares during the period.

Smith Douglas Homes Stock Up 8.6%

SDHC stock opened at $17.43 on Friday. The firm has a market capitalization of $896.72 million, a PE ratio of 13.94, a P/E/G ratio of 10.78 and a beta of 0.96. Smith Douglas Homes Corp. has a twelve month low of $15.00 and a twelve month high of $34.48. The stock’s 50 day moving average is $17.29 and its 200-day moving average is $18.66.

Smith Douglas Homes (NYSE:SDHC) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.38). Smith Douglas Homes had a net margin of 1.13% and a return on equity of 0.12%. The company had revenue of $262.04 million during the quarter, compared to analysts’ expectations of $251.41 million. On average, equities research analysts anticipate that Smith Douglas Homes Corp. will post 1.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on SDHC shares. Wells Fargo & Company reduced their target price on Smith Douglas Homes from $20.00 to $18.00 and set an “equal weight” rating for the company in a research note on Friday, November 7th. Weiss Ratings reissued a “sell (d+)” rating on shares of Smith Douglas Homes in a research note on Wednesday, October 8th. Bank of America lowered their target price on Smith Douglas Homes from $17.00 to $15.00 and set an “underperform” rating on the stock in a research report on Friday, October 10th. Zacks Research downgraded shares of Smith Douglas Homes from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 12th. Finally, Wall Street Zen lowered shares of Smith Douglas Homes from a “hold” rating to a “sell” rating in a research note on Sunday, November 9th. Four equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Smith Douglas Homes currently has an average rating of “Reduce” and a consensus target price of $16.60.

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.