Smith Douglas Homes Corp. (NYSE:SDHC) Short Interest Down 18.3% in January

Smith Douglas Homes Corp. (NYSE:SDHC - Get Free Report) saw a large decline in short interest in January. As of January 15th, there was short interest totalling 457,800 shares, a decline of 18.3% from the December 31st total of 560,300 shares. Approximately 5.4% of the shares of the stock are sold short. Based on an average daily volume of 89,700 shares, the short-interest ratio is currently 5.1 days.

Insiders Place Their Bets

In other news, Director Jeffrey T. Jackson acquired 8,605 shares of the company'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 purchase, the director now directly owns 15,748 shares of the company's stock, valued at approximately $468,817.96. This trade represents a 120.47 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC increased its position in shares of Smith Douglas Homes by 260.2% in the second quarter. Renaissance Technologies LLC now owns 33,500 shares of the company's stock worth $783,000 after acquiring an additional 24,200 shares in the last quarter. Sei Investments Co. increased its holdings in Smith Douglas Homes by 39.4% in the 2nd quarter. Sei Investments Co. now owns 47,629 shares of the company's stock valued at $1,114,000 after purchasing an additional 13,451 shares in the last quarter. Marshall Wace LLP raised its position in Smith Douglas Homes by 17.0% in the second quarter. Marshall Wace LLP now owns 89,770 shares of the company's stock valued at $2,099,000 after purchasing an additional 13,036 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in shares of Smith Douglas Homes by 38.0% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 26,226 shares of the company's stock worth $613,000 after buying an additional 7,217 shares during the period. Finally, Azzad Asset Management Inc. ADV grew its stake in shares of Smith Douglas Homes by 3.1% in the third quarter. Azzad Asset Management Inc. ADV now owns 11,579 shares of the company's stock valued at $437,000 after buying an additional 349 shares in the last quarter.

Smith Douglas Homes Stock Performance

NYSE:SDHC traded down $0.21 on Wednesday, hitting $23.31. 40,498 shares of the stock were exchanged, compared to its average volume of 93,064. Smith Douglas Homes has a fifty-two week low of $20.55 and a fifty-two week high of $39.50. The stock has a fifty day moving average of $27.50 and a 200-day moving average of $32.03.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SDHC shares. Bank of America cut shares of Smith Douglas Homes from a "neutral" rating to an "underperform" rating and decreased their price target for the stock from $33.00 to $22.00 in a research note on Monday, January 27th. JPMorgan Chase & Co. lowered their target price on shares of Smith Douglas Homes from $36.00 to $35.00 and set a "neutral" rating for the company in a research note on Friday, December 13th. Wedbush reiterated a "neutral" rating and set a $20.00 target price on shares of Smith Douglas Homes in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company lowered their price target on Smith Douglas Homes from $33.00 to $24.00 and set an "equal weight" rating for the company in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $25.40.

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.