Wellington Management Group LLP decreased its holdings in Smith Douglas Homes Corp. (NYSE:SDHC - Free Report) by 8.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,012,693 shares of the company's stock after selling 95,663 shares during the quarter. Wellington Management Group LLP owned about 1.97% of Smith Douglas Homes worth $38,260,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of SDHC. Azzad Asset Management Inc. ADV boosted its stake in shares of Smith Douglas Homes by 3.1% during the third quarter. Azzad Asset Management Inc. ADV now owns 11,579 shares of the company's stock worth $437,000 after buying an additional 349 shares during the period. nVerses Capital LLC acquired a new stake in Smith Douglas Homes during the 3rd quarter worth approximately $34,000. Quantbot Technologies LP increased its holdings in shares of Smith Douglas Homes by 287.0% in the third quarter. Quantbot Technologies LP now owns 3,692 shares of the company's stock valued at $139,000 after purchasing an additional 2,738 shares during the period. US Bancorp DE lifted its holdings in shares of Smith Douglas Homes by 68.6% during the third quarter. US Bancorp DE now owns 9,896 shares of the company's stock worth $374,000 after purchasing an additional 4,027 shares during the period. Finally, RiverPark Advisors LLC acquired a new position in Smith Douglas Homes in the 2nd quarter valued at $120,000.
Shares of SDHC stock opened at $33.00 on Friday. The stock has a fifty day moving average price of $34.09 and a 200 day moving average price of $31.52. Smith Douglas Homes Corp. has a 1 year low of $20.55 and a 1 year high of $39.50.
In related news, Director Jeffrey T. Jackson bought 8,605 shares of the stock in a transaction on Tuesday, November 19th. The shares were purchased at an average price of $29.77 per share, for a total transaction of $256,170.85. Following the acquisition, the director now owns 15,748 shares in the company, valued at $468,817.96. This represents a 120.47 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.
SDHC has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut shares of Smith Douglas Homes from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $41.00 to $36.00 in a research note on Monday, November 25th. Wells Fargo & Company boosted their target price on Smith Douglas Homes from $35.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Monday, October 7th. Royal Bank of Canada reissued a "sector perform" rating and issued a $26.00 price target on shares of Smith Douglas Homes in a report on Thursday, August 15th. Wedbush reaffirmed a "neutral" rating and set a $20.00 price objective on shares of Smith Douglas Homes in a report on Tuesday, November 12th. Finally, Bank of America raised their target price on Smith Douglas Homes from $36.00 to $40.00 and gave the company a "neutral" rating in a report on Thursday, September 19th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $32.40.
Check Out Our Latest Research Report on 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.
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