Renaissance Technologies LLC Buys 24,000 Shares of Smith Douglas Homes Corp. (NYSE:SDHC)

Renaissance Technologies LLC increased its position in Smith Douglas Homes Corp. (NYSE:SDHC - Free Report) by 31.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 99,200 shares of the company's stock after purchasing an additional 24,000 shares during the quarter. Renaissance Technologies LLC owned approximately 0.19% of Smith Douglas Homes worth $2,543,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Geode Capital Management LLC lifted its stake in Smith Douglas Homes by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 90,038 shares of the company's stock valued at $2,310,000 after buying an additional 457 shares during the period. Arcadia Investment Management Corp MI acquired a new position in Smith Douglas Homes during the fourth quarter valued at approximately $27,000. Trexquant Investment LP bought a new stake in Smith Douglas Homes in the fourth quarter valued at approximately $218,000. Virtu Financial LLC bought a new stake in Smith Douglas Homes in the third quarter valued at approximately $344,000. Finally, Yorktown Management & Research Co Inc bought a new position in shares of Smith Douglas Homes during the fourth quarter worth $236,000.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Bank of America cut Smith Douglas Homes from a "neutral" rating to an "underperform" rating and decreased their target price for the company from $33.00 to $22.00 in a research note on Monday, January 27th. Wells Fargo & Company dropped their target price on Smith Douglas Homes from $21.00 to $20.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $24.60.

Smith Douglas Homes Stock Performance

Shares of NYSE SDHC traded up $0.36 during mid-day trading on Monday, reaching $19.88. The company had a trading volume of 18,090 shares, compared to its average volume of 104,990. Smith Douglas Homes Corp. has a one year low of $17.03 and a one year high of $39.50. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 6.87 and a beta of 1.31. The business's 50-day simple moving average is $20.11 and its 200 day simple moving average is $26.09.

Smith Douglas Homes (NYSE:SDHC - Get Free Report) last announced its quarterly earnings data on Wednesday, March 12th. The company reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. The business had revenue of $287.49 million during the quarter, compared to the consensus estimate of $265.85 million. Smith Douglas Homes had a net margin of 4.60% and a return on equity of 21.01%. On average, sell-side analysts anticipate that Smith Douglas Homes Corp. will post 1.73 EPS for the current 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.