Daiwa Securities Group Inc. Grows Holdings in Smith Douglas Homes Corp. (NYSE:SDHC)

Daiwa Securities Group Inc. raised its position in Smith Douglas Homes Corp. (NYSE:SDHC) by 31.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,487 shares of the company’s stock after buying an additional 7,015 shares during the period. Daiwa Securities Group Inc.’s holdings in Smith Douglas Homes were worth $1,114,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in shares of Smith Douglas Homes in the third quarter valued at about $34,000. RiverPark Advisors LLC acquired a new stake in shares of Smith Douglas Homes in the second quarter valued at about $120,000. Atria Investments Inc acquired a new stake in shares of Smith Douglas Homes in the third quarter valued at about $204,000. Portside Wealth Group LLC acquired a new stake in shares of Smith Douglas Homes in the third quarter valued at about $283,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Smith Douglas Homes in the third quarter valued at about $349,000.

Smith Douglas Homes Stock Up 0.3 %

Shares of SDHC stock opened at $33.77 on Friday. The firm’s 50-day moving average is $34.70 and its two-hundred day moving average is $31.19. Smith Douglas Homes Corp. has a 12 month low of $20.55 and a 12 month high of $39.50.

Insiders Place Their Bets

In other news, Director Jeffrey T. Jackson bought 8,605 shares of Smith Douglas Homes stock in a transaction on Tuesday, November 19th. The shares were bought at an average cost of $29.77 per share, with a total value of $256,170.85. Following the completion of the purchase, the director now directly owns 15,748 shares of the company’s stock, valued at approximately $468,817.96. This trade represents a 120.47 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analyst Ratings Changes

Several brokerages have recently issued reports on SDHC. Wells Fargo & Company lifted 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 report on Monday, October 7th. Royal Bank of Canada restated a “sector perform” rating and set a $26.00 price target on shares of Smith Douglas Homes in a research report on Thursday, August 15th. JPMorgan Chase & Co. lowered shares of Smith Douglas Homes from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $41.00 to $36.00 in a research report on Monday, November 25th. Wedbush restated a “neutral” rating and set a $20.00 price target on shares of Smith Douglas Homes in a research report on Tuesday, November 12th. Finally, Bank of America boosted their price target on shares of Smith Douglas Homes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Smith Douglas Homes currently has a consensus rating of “Hold” and an average target price of $32.40.

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.