Short Interest in Smith Douglas Homes Corp. (NYSE:SDHC) Declines By 18.3%

Smith Douglas Homes Corp. (NYSE:SDHC) was the recipient of a large decline in short interest during the month of January. As of January 15th, there was short interest totalling 457,800 shares, a decline of 18.3% from the December 31st total of 560,300 shares. Based on an average daily volume of 89,700 shares, the days-to-cover ratio is presently 5.1 days. Currently, 5.4% of the company’s shares are short sold.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wedbush reiterated a “neutral” rating and issued a $20.00 target price on shares of Smith Douglas Homes in a research report on Tuesday, November 12th. Bank of America cut Smith Douglas Homes from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $33.00 to $22.00 in a research report on Monday, January 27th. Wells Fargo & Company decreased 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. Finally, JPMorgan Chase & Co. reduced their price target on Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Smith Douglas Homes has an average rating of “Hold” and an average price target of $25.40.

Smith Douglas Homes Stock Down 6.2 %

Shares of Smith Douglas Homes stock traded down $1.50 on Monday, reaching $22.77. The company’s stock had a trading volume of 69,602 shares, compared to its average volume of 97,000. The firm’s fifty day simple moving average is $27.90 and its two-hundred day simple moving average is $32.11. Smith Douglas Homes has a 52 week low of $20.55 and a 52 week high of $39.50.

Insiders Place Their Bets

In other Smith Douglas Homes news, Director Jeffrey T. Jackson purchased 8,605 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were acquired at an average price of $29.77 per share, for a total transaction of $256,170.85. Following the purchase, the director now owns 15,748 shares in the company, valued at approximately $468,817.96. The trade was a 120.47 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Institutional Investors Weigh In On Smith Douglas Homes

A number of hedge funds have recently made changes to their positions in the company. Wasatch Advisors LP purchased a new stake in Smith Douglas Homes during the third quarter worth $8,104,000. Marshall Wace LLP lifted its holdings in Smith Douglas Homes by 17.0% during the second quarter. Marshall Wace LLP now owns 89,770 shares of the company’s stock worth $2,099,000 after buying an additional 13,036 shares during the period. Lisanti Capital Growth LLC lifted its holdings in Smith Douglas Homes by 20.4% during the third quarter. Lisanti Capital Growth LLC now owns 52,785 shares of the company’s stock worth $1,994,000 after buying an additional 8,945 shares during the period. Seven Grand Managers LLC lifted its holdings in Smith Douglas Homes by 100.0% during the third quarter. Seven Grand Managers LLC now owns 50,000 shares of the company’s stock worth $1,889,000 after buying an additional 25,000 shares during the period. Finally, Sei Investments Co. lifted its holdings in Smith Douglas Homes by 39.4% during the second quarter. Sei Investments Co. now owns 47,629 shares of the company’s stock worth $1,114,000 after buying an additional 13,451 shares during the period.

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.