Smith Douglas Homes (NYSE:SDHC) Stock Price Down 3.6% - Here's Why

Smith Douglas Homes Corp. (NYSE:SDHC - Get Free Report) shares traded down 3.6% during mid-day trading on Thursday . The stock traded as low as $26.45 and last traded at $26.51. 74,076 shares were traded during trading, a decline of 42% from the average session volume of 128,754 shares. The stock had previously closed at $27.50.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Smith Douglas Homes from $36.00 to $35.00 and set a "neutral" rating on the stock in a report on Friday, December 13th. Wells Fargo & Company raised their target price on 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 reaffirmed a "neutral" rating and issued a $20.00 price target on shares of Smith Douglas Homes in a research note on Tuesday, November 12th. Finally, Bank of America lifted their price objective on shares of Smith Douglas Homes from $36.00 to $40.00 and gave the stock a "neutral" rating in a research note on Thursday, September 19th. Six research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $32.20.

Smith Douglas Homes Trading Down 1.2 %

The company has a fifty day moving average price of $32.70 and a two-hundred day moving average price of $31.81.

Insider Activity

In other news, Director Jeffrey T. Jackson bought 8,605 shares of the business's stock in a transaction on Tuesday, November 19th. The shares were purchased at an average price of $29.77 per share, for a total transaction of $256,170.85. Following the purchase, the director now owns 15,748 shares of the company's stock, valued at approximately $468,817.96. The trade was a 120.47 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Trading of Smith Douglas Homes

A number of hedge funds and other institutional investors have recently made changes to their positions in SDHC. nVerses Capital LLC bought a new stake in Smith Douglas Homes during the third quarter worth about $34,000. Quantbot Technologies LP raised its stake in shares of Smith Douglas Homes by 287.0% during the 3rd quarter. Quantbot Technologies LP now owns 3,692 shares of the company's stock worth $139,000 after purchasing an additional 2,738 shares in the last quarter. Atria Investments Inc acquired a new stake in shares of Smith Douglas Homes in the 3rd quarter valued at approximately $204,000. XTX Topco Ltd acquired a new stake in shares of Smith Douglas Homes in the 3rd quarter valued at approximately $246,000. Finally, Portside Wealth Group LLC bought a new position in shares of Smith Douglas Homes in the third quarter valued at $283,000.

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.