Wasatch Advisors LP Invests $8.10 Million in Smith Douglas Homes Corp. (NYSE:SDHC)

Wasatch Advisors LP acquired a new position in shares of Smith Douglas Homes Corp. (NYSE:SDHC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 214,508 shares of the company’s stock, valued at approximately $8,104,000. Wasatch Advisors LP owned approximately 0.42% of Smith Douglas Homes at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Azzad Asset Management Inc. ADV increased its stake in shares of Smith Douglas Homes by 3.1% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 11,579 shares of the company’s stock worth $437,000 after purchasing an additional 349 shares in the last quarter. nVerses Capital LLC acquired a new stake in Smith Douglas Homes during the third quarter worth approximately $34,000. Quantbot Technologies LP boosted its position in Smith Douglas Homes by 287.0% during the third quarter. Quantbot Technologies LP now owns 3,692 shares of the company’s stock worth $139,000 after acquiring an additional 2,738 shares during the last quarter. US Bancorp DE boosted its position in Smith Douglas Homes by 68.6% during the third quarter. US Bancorp DE now owns 9,896 shares of the company’s stock worth $374,000 after acquiring an additional 4,027 shares during the last quarter. Finally, RiverPark Advisors LLC acquired a new stake in Smith Douglas Homes during the second quarter worth approximately $120,000.

Smith Douglas Homes Price Performance

Shares of NYSE SDHC opened at $33.70 on Friday. Smith Douglas Homes Corp. has a 52-week low of $20.55 and a 52-week high of $39.50. The firm has a fifty day moving average of $34.70 and a 200-day moving average of $31.21.

Insider Buying and Selling

In other Smith Douglas Homes news, Director Jeffrey T. Jackson purchased 8,605 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was purchased at an average cost of $29.77 per share, with a total value of $256,170.85. Following the transaction, the director now owns 15,748 shares in the company, valued at approximately $468,817.96. This trade represents a 120.47 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered shares of Smith Douglas Homes from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $41.00 to $36.00 in a research report on Monday, November 25th. Wells Fargo & Company raised their target price on shares of Smith Douglas Homes from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Wedbush restated a “neutral” rating and set a $20.00 target price on shares of Smith Douglas Homes in a research report on Tuesday, November 12th. Bank of America lifted their price target on shares of Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $26.00 price objective on shares of Smith Douglas Homes in a research note on Thursday, August 15th. Six research analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $32.40.

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.