Arcadia Investment Management Corp MI Acquires Shares of 1,038 Smith Douglas Homes Corp. (NYSE:SDHC)

Arcadia Investment Management Corp MI purchased a new stake in Smith Douglas Homes Corp. (NYSE:SDHC) in the 4th quarter, HoldingsChannel reports. The fund purchased 1,038 shares of the company’s stock, valued at approximately $27,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Yorktown Management & Research Co Inc acquired a new position in Smith Douglas Homes in the 4th quarter valued at approximately $236,000. JPMorgan Chase & Co. increased its stake in shares of Smith Douglas Homes by 1,551.9% in the third quarter. JPMorgan Chase & Co. now owns 21,343 shares of the company’s stock worth $806,000 after acquiring an additional 20,051 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Smith Douglas Homes in the third quarter worth $344,000. M&T Bank Corp purchased a new stake in shares of Smith Douglas Homes during the third quarter worth $436,000. Finally, XTX Topco Ltd acquired a new stake in Smith Douglas Homes during the third quarter valued at $246,000.

Smith Douglas Homes Price Performance

Shares of SDHC stock opened at $23.63 on Friday. The stock’s 50 day simple moving average is $25.10 and its 200 day simple moving average is $31.36. Smith Douglas Homes Corp. has a twelve month low of $20.55 and a twelve month high of $39.50.

Analyst Ratings Changes

Several research analysts have weighed in on SDHC shares. Wells Fargo & Company dropped their target price on Smith Douglas Homes from $33.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Bank of America downgraded Smith Douglas Homes from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $33.00 to $22.00 in a report on Monday, January 27th. Wedbush reiterated a “neutral” rating and issued a $20.00 target price on shares of Smith Douglas Homes in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Smith Douglas Homes currently has a consensus rating of “Hold” and a consensus target price of $25.40.

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.