Thornburg Investment Management Inc. Cuts Position in Smith Douglas Homes Corp. $SDHC

Thornburg Investment Management Inc. decreased its holdings in shares of Smith Douglas Homes Corp. (NYSE:SDHC) by 8.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 224,457 shares of the company’s stock after selling 19,756 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Smith Douglas Homes were worth $4,359,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SDHC. PDT Partners LLC grew its holdings in Smith Douglas Homes by 10.7% during the 1st quarter. PDT Partners LLC now owns 13,988 shares of the company’s stock valued at $273,000 after purchasing an additional 1,349 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Smith Douglas Homes by 80.2% in the 1st quarter. Victory Capital Management Inc. now owns 14,395 shares of the company’s stock worth $281,000 after buying an additional 6,406 shares during the last quarter. Trexquant Investment LP boosted its stake in Smith Douglas Homes by 93.1% in the first quarter. Trexquant Investment LP now owns 16,420 shares of the company’s stock valued at $321,000 after acquiring an additional 7,916 shares during the period. Corton Capital Inc. grew its stake in Smith Douglas Homes by 41.0% during the 2nd quarter. Corton Capital Inc. now owns 20,752 shares of the company’s stock worth $403,000 after buying an additional 6,036 shares during the last quarter. Finally, Covey Capital Advisors LLC bought a new position in shares of Smith Douglas Homes during the second quarter worth about $705,000.

Smith Douglas Homes Trading Up 1.2%

SDHC stock opened at $19.34 on Thursday. The business’s 50 day moving average is $17.30 and its 200-day moving average is $18.66. Smith Douglas Homes Corp. has a 1-year low of $15.00 and a 1-year high of $34.00. The firm has a market cap of $994.79 million, a P/E ratio of 15.47, a P/E/G ratio of 12.67 and a beta of 0.96.

Smith Douglas Homes (NYSE:SDHC) last issued its earnings results on Wednesday, November 5th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.38). The firm had revenue of $262.04 million during the quarter, compared to analyst estimates of $251.41 million. Smith Douglas Homes had a net margin of 1.13% and a return on equity of 0.12%. Sell-side analysts forecast that Smith Douglas Homes Corp. will post 1.73 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Wells Fargo & Company decreased their price target on Smith Douglas Homes from $20.00 to $18.00 and set an “equal weight” rating for the company in a research note on Friday, November 7th. Bank of America decreased their price objective on shares of Smith Douglas Homes from $17.00 to $15.00 and set an “underperform” rating for the company in a research note on Friday, October 10th. Wall Street Zen downgraded shares of Smith Douglas Homes from a “hold” rating to a “sell” rating in a research report on Sunday, November 9th. Weiss Ratings restated a “sell (d+)” rating on shares of Smith Douglas Homes in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $17.00 price objective on shares of Smith Douglas Homes in a report on Friday, November 21st. Four analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $16.60.

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.