Smith Douglas Homes Corp. (NYSE:SDHC) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC lessened its stake in shares of Smith Douglas Homes Corp. (NYSE:SDHC) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,358,502 shares of the company’s stock after selling 18,579 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 2.65% of Smith Douglas Homes worth $31,762,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SDHC. Hood River Capital Management LLC purchased a new position in Smith Douglas Homes in the first quarter worth approximately $14,321,000. Vanguard Group Inc. purchased a new position in shares of Smith Douglas Homes during the 1st quarter worth $13,451,000. Long Pond Capital LP acquired a new stake in shares of Smith Douglas Homes during the 1st quarter worth about $12,388,000. Zimmer Partners LP purchased a new stake in Smith Douglas Homes in the 1st quarter valued at about $9,652,000. Finally, Thornburg Investment Management Inc. purchased a new stake in Smith Douglas Homes in the 2nd quarter valued at about $4,975,000.

Smith Douglas Homes Price Performance

Shares of SDHC stock opened at $37.47 on Friday. Smith Douglas Homes Corp. has a 52 week low of $20.55 and a 52 week high of $39.50. The firm has a 50 day moving average of $33.48 and a two-hundred day moving average of $29.25.

Smith Douglas Homes (NYSE:SDHC) last released its earnings results on Wednesday, August 14th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The company had revenue of $220.90 million during the quarter, compared to analysts’ expectations of $208.02 million. The company’s revenue was up 21.7% compared to the same quarter last year. As a group, analysts anticipate that Smith Douglas Homes Corp. will post 1.66 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SDHC. Wells Fargo & Company lifted their price target on shares of Smith Douglas Homes from $25.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $26.00 target price on shares of Smith Douglas Homes in a report on Thursday, August 15th. Wedbush restated a “neutral” rating and set a $20.00 price target on shares of Smith Douglas Homes in a research note on Wednesday, August 14th. Finally, Bank of America lifted their price objective on Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $30.50.

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.