Smith Douglas Homes Corp. (NYSE:SDHC) Stock Position Decreased by Basswood Capital Management L.L.C.

Basswood Capital Management L.L.C. trimmed its position in shares of Smith Douglas Homes Corp. (NYSE:SDHC) by 41.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 108,914 shares of the company’s stock after selling 77,320 shares during the period. Basswood Capital Management L.L.C.’s holdings in Smith Douglas Homes were worth $4,115,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SDHC. Wasatch Advisors LP acquired a new stake in Smith Douglas Homes in the third quarter valued at approximately $8,104,000. Townsquare Capital LLC raised its holdings in shares of Smith Douglas Homes by 39.4% during the 3rd quarter. Townsquare Capital LLC now owns 46,371 shares of the company’s stock valued at $1,752,000 after purchasing an additional 13,110 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Smith Douglas Homes in the 3rd quarter valued at $591,000. Quantbot Technologies LP boosted its holdings in Smith Douglas Homes by 287.0% in the third quarter. Quantbot Technologies LP now owns 3,692 shares of the company’s stock worth $139,000 after purchasing an additional 2,738 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in Smith Douglas Homes by 31.2% during the third quarter. Daiwa Securities Group Inc. now owns 29,487 shares of the company’s stock worth $1,114,000 after buying an additional 7,015 shares during the last quarter.

Smith Douglas Homes Trading Up 0.1 %

Shares of SDHC stock opened at $33.70 on Monday. Smith Douglas Homes Corp. has a 12 month low of $20.55 and a 12 month high of $39.50. The stock has a 50 day moving average of $34.70 and a 200-day moving average of $31.22.

Insider Buying and Selling

In other news, Director Jeffrey T. Jackson bought 8,605 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were acquired at an average cost of $29.77 per share, with a total value of $256,170.85. Following the completion of the transaction, the director now directly owns 15,748 shares in the company, valued at $468,817.96. This represents a 120.47 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SDHC. Wedbush reaffirmed a “neutral” rating and issued a $20.00 price target on shares of Smith Douglas Homes in a research report on Tuesday, November 12th. Wells Fargo & Company upped their target price on 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. JPMorgan Chase & Co. lowered shares of Smith Douglas Homes from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $41.00 to $36.00 in a research report on Monday, November 25th. Bank of America upped their price objective on shares of Smith Douglas Homes from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $26.00 target price on shares of Smith Douglas Homes in a research note on Thursday, August 15th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average 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.