Wellington Management Group LLP Decreases Stock Holdings in Smith Douglas Homes Corp. (NYSE:SDHC)

Wellington Management Group LLP lessened its holdings in Smith Douglas Homes Corp. (NYSE:SDHC) by 8.6% during the third quarter, HoldingsChannel.com reports. The fund owned 1,012,693 shares of the company’s stock after selling 95,663 shares during the quarter. Wellington Management Group LLP’s holdings in Smith Douglas Homes were worth $38,260,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Federated Hermes Inc. lifted its position in shares of Smith Douglas Homes by 5.5% during the second quarter. Federated Hermes Inc. now owns 527,300 shares of the company’s stock worth $12,328,000 after purchasing an additional 27,300 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Smith Douglas Homes by 260.2% in the 2nd quarter. Renaissance Technologies LLC now owns 33,500 shares of the company’s stock worth $783,000 after buying an additional 24,200 shares in the last quarter. Atria Investments Inc purchased a new position in Smith Douglas Homes in the 3rd quarter valued at about $204,000. Seven Grand Managers LLC boosted its position in Smith Douglas Homes by 100.0% in the 3rd quarter. Seven Grand Managers LLC now owns 50,000 shares of the company’s stock valued at $1,889,000 after buying an additional 25,000 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Smith Douglas Homes by 17.0% during the second quarter. Marshall Wace LLP now owns 89,770 shares of the company’s stock valued at $2,099,000 after acquiring an additional 13,036 shares in the last quarter.

Insider Activity

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

Smith Douglas Homes Stock Down 0.8 %

Smith Douglas Homes stock opened at $33.00 on Friday. Smith Douglas Homes Corp. has a 12 month low of $20.55 and a 12 month high of $39.50. The company has a fifty day moving average price of $34.09 and a two-hundred day moving average price of $31.52.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wedbush reiterated a “neutral” rating and issued a $20.00 price target on shares of Smith Douglas Homes in a research note on Tuesday, November 12th. JPMorgan Chase & Co. cut Smith Douglas Homes from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $41.00 to $36.00 in a research note on Monday, November 25th. Royal Bank of Canada restated a “sector perform” rating and issued a $26.00 price target on shares of Smith Douglas Homes in a research note on Thursday, August 15th. Bank of America increased their price objective on shares of Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Finally, Wells Fargo & Company boosted their target price on shares of 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. Six investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Smith Douglas Homes presently has an average rating of “Hold” and a consensus price target of $32.40.

Smith Douglas Homes 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.