Smith Douglas Homes Corp. (NYSE:SDHC) Stock Position Lifted by Seven Grand Managers LLC

Seven Grand Managers LLC lifted its stake in shares of Smith Douglas Homes Corp. (NYSE:SDHC) by 100.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,000 shares of the company’s stock after purchasing an additional 25,000 shares during the quarter. Seven Grand Managers LLC owned about 0.10% of Smith Douglas Homes worth $1,889,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. RiverPark Advisors LLC bought a new stake in shares of Smith Douglas Homes during the 2nd quarter worth about $120,000. Sandia Investment Management LP bought a new position in Smith Douglas Homes during the 1st quarter valued at $178,000. Azzad Asset Management Inc. ADV bought a new stake in shares of Smith Douglas Homes in the 1st quarter worth $331,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Smith Douglas Homes in the 1st quarter worth $565,000. Finally, Daiwa Securities Group Inc. bought a new position in Smith Douglas Homes during the first quarter valued at about $688,000.

Smith Douglas Homes Price Performance

Shares of NYSE SDHC opened at $36.61 on Thursday. The business’s 50-day simple moving average is $36.00 and its 200-day simple moving average is $30.04. Smith Douglas Homes Corp. has a 52 week low of $20.55 and a 52 week high of $39.50.

Smith Douglas Homes (NYSE:SDHC) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.37 by $0.03. The company had revenue of $220.90 million for the quarter, compared to analyst estimates of $208.02 million. The company’s revenue was up 21.7% compared to the same quarter last year. Equities analysts forecast that Smith Douglas Homes Corp. will post 1.66 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on SDHC. Wells Fargo & Company increased their target price on shares of Smith Douglas Homes from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Bank of America upped their target price on Smith Douglas Homes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Wedbush restated a “neutral” rating and issued a $20.00 price objective on shares of Smith Douglas Homes in a report on Wednesday, August 14th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $26.00 target price on shares of Smith Douglas Homes in a research report on Thursday, August 15th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Smith Douglas Homes currently has an average rating of “Hold” and a consensus price target of $31.50.

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.