Smith Douglas Homes (NYSE:SDHC) Sees Unusually-High Trading Volume – Time to Buy?

Smith Douglas Homes Corp. (NYSE:SDHC) shares saw strong trading volume on Tuesday . 113,832 shares changed hands during mid-day trading, a decline of 13% from the previous session’s volume of 130,639 shares.The stock last traded at $26.04 and had previously closed at $25.99.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SDHC shares. Wells Fargo & Company boosted their price target 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. Wedbush restated a “neutral” rating and issued a $20.00 price target on shares of Smith Douglas Homes in a research report on Tuesday, November 12th. Bank of America lifted their price objective 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. Finally, JPMorgan Chase & Co. cut their target price on Smith Douglas Homes from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $32.20.

Smith Douglas Homes Stock Down 1.3 %

The company has a 50 day moving average price of $31.80 and a 200 day moving average price of $31.85.

Insider Buying and Selling at Smith Douglas Homes

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SDHC. JPMorgan Chase & Co. raised its holdings in shares of Smith Douglas Homes by 1,551.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 21,343 shares of the company’s stock valued at $806,000 after buying an additional 20,051 shares during the period. Virtu Financial LLC purchased a new stake in Smith Douglas Homes during the third quarter worth about $344,000. M&T Bank Corp acquired a new stake in shares of Smith Douglas Homes during the third quarter worth about $436,000. XTX Topco Ltd purchased a new position in shares of Smith Douglas Homes in the third quarter valued at approximately $246,000. Finally, Jane Street Group LLC acquired a new position in shares of Smith Douglas Homes in the third quarter valued at approximately $530,000.

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.