Renaissance Technologies LLC Buys 24,200 Shares of Smith Douglas Homes Corp. (NYSE:SDHC)

Renaissance Technologies LLC increased its holdings in shares of Smith Douglas Homes Corp. (NYSE:SDHC - Free Report) by 260.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,500 shares of the company's stock after purchasing an additional 24,200 shares during the quarter. Renaissance Technologies LLC owned approximately 0.07% of Smith Douglas Homes worth $783,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SDHC. Hood River Capital Management LLC bought a new position in Smith Douglas Homes during the first quarter worth about $14,321,000. Vanguard Group Inc. acquired a new position in shares of Smith Douglas Homes during the 1st quarter worth approximately $13,451,000. Long Pond Capital LP bought a new stake in Smith Douglas Homes in the 1st quarter valued at $12,388,000. Zimmer Partners LP bought a new stake in Smith Douglas Homes in the 1st quarter valued at $9,652,000. Finally, Thornburg Investment Management Inc. acquired a new stake in Smith Douglas Homes during the 2nd quarter valued at $4,975,000.

Analysts Set New Price Targets

Several research firms have weighed in on SDHC. Wells Fargo & Company increased their price target on shares of Smith Douglas Homes from $35.00 to $40.00 and gave the company an "equal weight" rating in a report on Monday. Royal Bank of Canada reissued a "sector perform" rating and set a $26.00 price target on shares of Smith Douglas Homes in a report on Thursday, August 15th. Bank of America upped their price objective on Smith Douglas Homes from $36.00 to $40.00 and gave the company a "neutral" rating in a report on Thursday, September 19th. Finally, Wedbush reissued a "neutral" rating and set a $20.00 target price on shares of Smith Douglas Homes in a report on Wednesday, August 14th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $31.50.

Smith Douglas Homes Stock Performance

Shares of NYSE:SDHC traded up $1.56 during trading on Tuesday, reaching $38.32. 45,322 shares of the company traded hands, compared to its average volume of 148,372. Smith Douglas Homes Corp. has a 52 week low of $20.55 and a 52 week high of $39.50. The company's 50 day moving average is $35.29 and its two-hundred day moving average is $29.75.

Smith Douglas Homes (NYSE:SDHC - Get Free Report) last released its earnings results on Wednesday, August 14th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.37 by $0.03. The firm had revenue of $220.90 million during the quarter, compared to the consensus estimate of $208.02 million. Smith Douglas Homes's quarterly revenue was up 21.7% on a year-over-year basis. As a group, equities analysts anticipate that Smith Douglas Homes Corp. will post 1.66 EPS for the current fiscal year.

Smith Douglas Homes 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.