Wasatch Advisors LP Makes New $8.10 Million Investment in Smith Douglas Homes Corp. (NYSE:SDHC)

Wasatch Advisors LP purchased a new position in shares of Smith Douglas Homes Corp. (NYSE:SDHC - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 214,508 shares of the company's stock, valued at approximately $8,104,000. Wasatch Advisors LP owned approximately 0.42% of Smith Douglas Homes as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. nVerses Capital LLC bought a new position in Smith Douglas Homes in the third quarter valued at $34,000. RiverPark Advisors LLC bought a new position in shares of Smith Douglas Homes in the 2nd quarter valued at about $120,000. Quantbot Technologies LP increased its position in shares of Smith Douglas Homes by 287.0% in the third quarter. Quantbot Technologies LP now owns 3,692 shares of the company's stock valued at $139,000 after acquiring an additional 2,738 shares during the last quarter. Atria Investments Inc bought a new stake in Smith Douglas Homes during the third quarter worth about $204,000. Finally, Portside Wealth Group LLC acquired a new position in Smith Douglas Homes during the third quarter valued at approximately $283,000.

Insider Activity

In other Smith Douglas Homes news, Director Jeffrey T. Jackson bought 8,605 shares of Smith Douglas Homes stock in a transaction dated Tuesday, November 19th. The stock was bought at an average price of $29.77 per share, with a total value of $256,170.85. Following the completion of the transaction, the director now owns 15,748 shares in the company, valued at $468,817.96. The trade was a 120.47 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Smith Douglas Homes Stock Up 0.1 %

SDHC traded up $0.03 on Friday, reaching $33.70. The company had a trading volume of 21,529 shares, compared to its average volume of 58,817. The company's fifty day moving average is $34.70 and its 200 day moving average is $31.22. Smith Douglas Homes Corp. has a fifty-two week low of $20.55 and a fifty-two week high of $39.50.

Wall Street Analyst Weigh In

SDHC has been the subject of several recent analyst reports. Bank of America increased their price objective on Smith Douglas Homes from $36.00 to $40.00 and gave the company a "neutral" rating in a report on Thursday, September 19th. Wells Fargo & Company lifted their price objective on shares of Smith Douglas Homes from $35.00 to $40.00 and gave the company an "equal weight" rating in a research report on Monday, October 7th. Wedbush reaffirmed a "neutral" rating and issued a $20.00 target price on shares of Smith Douglas Homes in a report on Tuesday, November 12th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $26.00 target price on shares of Smith Douglas Homes in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. downgraded Smith Douglas Homes from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $41.00 to $36.00 in a research report on Monday, November 25th. Six investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $32.40.

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.