Basswood Capital Management L.L.C. Sells 77,320 Shares of Smith Douglas Homes Corp. (NYSE:SDHC)

Basswood Capital Management L.L.C. decreased its holdings in shares of Smith Douglas Homes Corp. (NYSE:SDHC - Free Report) by 41.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,914 shares of the company's stock after selling 77,320 shares during the quarter. Basswood Capital Management L.L.C. owned approximately 0.21% of Smith Douglas Homes worth $4,115,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. nVerses Capital LLC acquired a new stake in shares of Smith Douglas Homes during the third quarter worth $34,000. RiverPark Advisors LLC bought a new position in Smith Douglas Homes in the second quarter valued at about $120,000. Quantbot Technologies LP grew its holdings in shares of 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 purchasing an additional 2,738 shares during the last quarter. Atria Investments Inc bought a new stake in shares of Smith Douglas Homes during the third quarter worth about $204,000. Finally, Portside Wealth Group LLC bought a new stake in shares of Smith Douglas Homes during the third quarter worth about $283,000.

Insider Activity

In related 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 acquired at an average price of $29.77 per share, for a total transaction of $256,170.85. Following the completion of the acquisition, the director now owns 15,748 shares of the company's stock, valued at $468,817.96. This represents a 120.47 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analysts Set New Price Targets

A number of equities analysts recently commented on SDHC shares. JPMorgan Chase & Co. lowered Smith Douglas Homes from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $41.00 to $36.00 in a research note on Monday, November 25th. Wedbush reaffirmed a "neutral" rating and issued a $20.00 price objective on shares of Smith Douglas Homes in a research note on Tuesday, November 12th. Wells Fargo & Company lifted their price objective on Smith Douglas Homes from $35.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Monday, October 7th. Bank of America lifted their price objective on Smith Douglas Homes from $36.00 to $40.00 and gave the stock a "neutral" rating in a research note on Thursday, September 19th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $26.00 price objective 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, Based on data from MarketBeat, Smith Douglas Homes currently has an average rating of "Hold" and a consensus price target of $32.40.

Smith Douglas Homes Trading Up 0.2 %

Shares of NYSE SDHC traded up $0.07 during midday trading on Monday, hitting $33.77. 21,430 shares of the stock traded hands, compared to its average volume of 131,455. Smith Douglas Homes Corp. has a one year low of $20.55 and a one year high of $39.50. The business has a 50 day moving average price of $34.70 and a two-hundred day moving average price of $31.22.

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.