Wasatch Advisors LP Purchases 941,511 Shares of Smith Douglas Homes Corp. (NYSE:SDHC)

Wasatch Advisors LP increased its stake in Smith Douglas Homes Corp. (NYSE:SDHC - Free Report) by 438.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,156,019 shares of the company's stock after acquiring an additional 941,511 shares during the quarter. Wasatch Advisors LP owned approximately 2.25% of Smith Douglas Homes worth $29,640,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SDHC. JPMorgan Chase & Co. lifted its position in Smith Douglas Homes by 1,551.9% in the third quarter. JPMorgan Chase & Co. now owns 21,343 shares of the company's stock valued at $806,000 after buying an additional 20,051 shares during the last quarter. Jane Street Group LLC purchased a new position in Smith Douglas Homes in the third quarter valued at approximately $530,000. Arcadia Investment Management Corp MI acquired a new position in Smith Douglas Homes in the fourth quarter valued at $27,000. Artisan Partners Limited Partnership lifted its holdings in shares of Smith Douglas Homes by 4.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 813,082 shares of the company's stock valued at $20,847,000 after purchasing an additional 35,702 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Smith Douglas Homes in the fourth quarter valued at approximately $328,000.

Wall Street Analysts Forecast Growth

SDHC has been the subject of several analyst reports. Bank of America cut shares of Smith Douglas Homes from a "neutral" rating to an "underperform" rating and cut their price target for the stock from $33.00 to $22.00 in a report on Monday, January 27th. Wells Fargo & Company cut their price target on Smith Douglas Homes from $21.00 to $20.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $24.60.

Smith Douglas Homes Trading Up 5.0 %

NYSE SDHC traded up $0.90 on Friday, reaching $18.86. The stock had a trading volume of 54,587 shares, compared to its average volume of 107,494. The company has a market capitalization of $967.33 million, a price-to-earnings ratio of 10.72, a P/E/G ratio of 6.87 and a beta of 1.31. The business has a 50 day moving average price of $20.49 and a 200 day moving average price of $26.80. Smith Douglas Homes Corp. has a 1 year low of $17.03 and a 1 year high of $39.50.

Smith Douglas Homes (NYSE:SDHC - Get Free Report) last announced its quarterly earnings results on Wednesday, March 12th. The company reported $0.46 EPS for the quarter, hitting analysts' consensus estimates of $0.46. The firm had revenue of $287.49 million during the quarter, compared to analysts' expectations of $265.85 million. Smith Douglas Homes had a net margin of 4.60% and a return on equity of 21.01%. On average, analysts anticipate that Smith Douglas Homes Corp. will post 1.73 earnings per share for the current fiscal year.

Smith Douglas Homes Company 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.