Smith Douglas Homes Corp. (NYSE:SDHC) Short Interest Up 13.3% in April

Smith Douglas Homes Corp. (NYSE:SDHC) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totaling 1,120,777 shares, a growth of 13.3% from the March 31st total of 988,984 shares. Based on an average daily trading volume, of 130,829 shares, the short-interest ratio is presently 8.6 days. Approximately 12.6% of the company’s shares are short sold.

Insiders Place Their Bets

In other Smith Douglas Homes news, Director George Ervin Perdue III acquired 20,300 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average cost of $12.27 per share, for a total transaction of $249,081.00. Following the completion of the acquisition, the director directly owned 60,684 shares of the company’s stock, valued at approximately $744,592.68. This represents a 50.27% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased 22,000 shares of company stock valued at $268,607 in the last quarter. Corporate insiders own 82.71% of the company’s stock.

Institutional Investors Weigh In On Smith Douglas Homes

Large investors have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in shares of Smith Douglas Homes during the second quarter worth $34,000. Tower Research Capital LLC TRC bought a new stake in shares of Smith Douglas Homes during the second quarter worth $90,000. Hsbc Holdings PLC bought a new position in Smith Douglas Homes in the first quarter valued at $168,000. Price T Rowe Associates Inc. MD bought a new position in Smith Douglas Homes in the fourth quarter valued at $182,000. Finally, GSA Capital Partners LLP bought a new position in Smith Douglas Homes in the third quarter valued at $188,000.

Analyst Upgrades and Downgrades

SDHC has been the topic of several analyst reports. Wells Fargo & Company cut their price objective on shares of Smith Douglas Homes from $18.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, March 12th. Wall Street Zen lowered shares of Smith Douglas Homes from a “hold” rating to a “sell” rating in a report on Sunday, March 22nd. JPMorgan Chase & Co. cut their target price on shares of Smith Douglas Homes from $19.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, March 16th. Zelman & Associates assumed coverage on shares of Smith Douglas Homes in a report on Monday, April 6th. They issued a “neutral” rating and a $13.50 target price on the stock. Finally, Citizens Jmp assumed coverage on shares of Smith Douglas Homes in a report on Tuesday, March 24th. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Smith Douglas Homes has a consensus rating of “Reduce” and a consensus target price of $14.58.

Smith Douglas Homes Stock Up 6.3%

Shares of SDHC stock opened at $14.17 on Friday. The firm has a fifty day moving average of $13.83 and a 200-day moving average of $16.85. Smith Douglas Homes has a 12-month low of $11.13 and a 12-month high of $23.50. The company has a market capitalization of $729.57 million, a price-to-earnings ratio of 14.92 and a beta of 1.29.

Smith Douglas Homes (NYSE:SDHC) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. Smith Douglas Homes had a net margin of 0.90% and a negative return on equity of 0.78%. The company had revenue of $206.44 million during the quarter, compared to the consensus estimate of $200.70 million. On average, equities analysts expect that Smith Douglas Homes will post 0.4 EPS for the current year.

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. was founded in 2008 and is headquartered in Woodstock, Georgia.