Smith Douglas Homes Corp. (NYSE:SDHC) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP trimmed its holdings in shares of Smith Douglas Homes Corp. (NYSE:SDHC - Free Report) by 8.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,012,693 shares of the company's stock after selling 95,663 shares during the period. Wellington Management Group LLP owned approximately 1.97% of Smith Douglas Homes worth $38,260,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SDHC. nVerses Capital LLC acquired a new stake in Smith Douglas Homes in the 3rd quarter worth approximately $34,000. Quantbot Technologies LP grew its position in 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 period. RiverPark Advisors LLC acquired a new position in Smith Douglas Homes in the second quarter worth $120,000. Atria Investments Inc acquired a new position in Smith Douglas Homes in the third quarter valued at about $204,000. Finally, Portside Wealth Group LLC bought a new stake in shares of Smith Douglas Homes in the third quarter worth about $283,000.

Wall Street Analyst Weigh In

SDHC has been the subject of a number of recent analyst reports. 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 report on Thursday, August 15th. Bank of America lifted their price target on Smith Douglas Homes from $36.00 to $40.00 and gave the company a "neutral" rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. cut their target price on Smith Douglas Homes from $36.00 to $35.00 and set a "neutral" rating on the stock in a report on Friday. Wedbush reissued a "neutral" rating and issued a $20.00 price objective on shares of Smith Douglas Homes in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company upped their price target 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. Six research 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 target price of $32.20.

Insider Buying and Selling at Smith Douglas Homes

In other news, Director Jeffrey T. Jackson bought 8,605 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The stock was purchased at an average cost of $29.77 per share, with a total value of $256,170.85. Following the transaction, the director now directly owns 15,748 shares in the company, valued at $468,817.96. This trade represents a 120.47 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Smith Douglas Homes Stock Performance

Shares of NYSE:SDHC traded down $1.07 during trading on Friday, reaching $31.93. The stock had a trading volume of 69,450 shares, compared to its average volume of 128,654. The business has a fifty day moving average price of $34.09 and a 200-day moving average price of $31.52. Smith Douglas Homes Corp. has a 1-year low of $20.55 and a 1-year high of $39.50.

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.