Smith Douglas Homes Corp. (NYSE:SDHC) Shares Sold by RiverPark Advisors LLC

RiverPark Advisors LLC lessened its position in Smith Douglas Homes Corp. (NYSE:SDHC) by 19.5% in the 3rd quarter, Holdings Channel reports. The fund owned 4,122 shares of the company’s stock after selling 1,000 shares during the period. RiverPark Advisors LLC’s holdings in Smith Douglas Homes were worth $156,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in SDHC. Sei Investments Co. acquired a new stake in shares of Smith Douglas Homes in the 1st quarter worth $1,015,000. Vanguard Group Inc. acquired a new stake in shares of Smith Douglas Homes in the 1st quarter worth $13,451,000. Brant Point Investment Management LLC acquired a new stake in shares of Smith Douglas Homes in the 1st quarter worth $1,336,000. Long Pond Capital LP acquired a new stake in shares of Smith Douglas Homes in the 1st quarter worth $12,388,000. Finally, Hood River Capital Management LLC acquired a new stake in shares of Smith Douglas Homes in the 1st quarter worth $14,321,000.

Smith Douglas Homes Price Performance

SDHC stock opened at $30.52 on Friday. Smith Douglas Homes Corp. has a 52 week low of $20.55 and a 52 week high of $39.50. The company’s 50-day moving average price is $35.52 and its 200 day moving average price is $31.01.

Smith Douglas Homes (NYSE:SDHC) last announced its earnings results on Wednesday, August 14th. The company reported $0.40 earnings per share (EPS) for the quarter, topping 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. Smith Douglas Homes had a net margin of 4.60% and a return on equity of 21.01%. The company’s revenue was up 21.7% on a year-over-year basis. On average, research analysts expect that Smith Douglas Homes Corp. will post 1.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on SDHC. Wells Fargo & Company raised 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 note on Monday, October 7th. Wedbush reissued a “neutral” rating and set a $20.00 price objective on shares of Smith Douglas Homes in a report on Tuesday, November 12th. Bank of America boosted their price objective on shares of Smith Douglas Homes from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $26.00 price objective on shares of Smith Douglas Homes in a report on Thursday, August 15th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $31.50.

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.