Smith Douglas Homes (NYSE:SDHC) Shares Down 4.9% - Time to Sell?

Smith Douglas Homes Corp. (NYSE:SDHC - Get Free Report) shares fell 4.9% on Thursday . The stock traded as low as $29.50 and last traded at $29.50. 86,516 shares traded hands during trading, a decline of 33% from the average session volume of 128,505 shares. The stock had previously closed at $31.01.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SDHC shares. Wells Fargo & Company upped their target price on shares of Smith Douglas Homes from $35.00 to $40.00 and gave the stock an "equal weight" rating in a report on Monday, October 7th. Wedbush reissued a "neutral" rating and set a $20.00 target price on shares of Smith Douglas Homes in a research note on Tuesday, November 12th. Bank of America upped their price objective on Smith Douglas Homes from $36.00 to $40.00 and gave the stock a "neutral" rating in a research report on Thursday, September 19th. Finally, JPMorgan Chase & Co. reduced their price target on Smith Douglas Homes from $36.00 to $35.00 and set a "neutral" rating on the stock in a research report on Friday, December 13th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Smith Douglas Homes currently has a consensus rating of "Hold" and a consensus target price of $32.20.

Smith Douglas Homes Stock Down 8.3 %

The business's fifty day moving average price is $33.45 and its 200 day moving average price is $31.72.

Insider Activity

In other news, Director Jeffrey T. Jackson purchased 8,605 shares of the business's stock in a transaction dated Tuesday, November 19th. The stock was acquired at an average price 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 $468,817.96. This represents a 120.47 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Institutional Trading of Smith Douglas Homes

Large investors have recently made changes to their positions in the stock. Azzad Asset Management Inc. ADV boosted its position 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 worth $437,000 after buying an additional 349 shares during the period. nVerses Capital LLC acquired a new position in Smith Douglas Homes during the 3rd quarter valued at approximately $34,000. Quantbot Technologies LP grew its position 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 acquiring an additional 2,738 shares during the last quarter. US Bancorp DE grew its position in Smith Douglas Homes by 68.6% in the 3rd quarter. US Bancorp DE now owns 9,896 shares of the company's stock worth $374,000 after purchasing an additional 4,027 shares during the last quarter. Finally, RiverPark Advisors LLC acquired a new stake in shares of Smith Douglas Homes in the second quarter valued at approximately $120,000.

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.