Smith Douglas Homes Corp. (NYSE:SDHC) Shares Sold by Lincoln Capital Corp

Lincoln Capital Corp lowered its stake in shares of Smith Douglas Homes Corp. (NYSE:SDHC) by 13.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,492 shares of the company’s stock after selling 7,004 shares during the quarter. Lincoln Capital Corp owned about 0.08% of Smith Douglas Homes worth $1,643,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SDHC. Azzad Asset Management Inc. ADV raised its stake in Smith Douglas Homes by 3.1% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 11,579 shares of the company’s stock worth $437,000 after acquiring an additional 349 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Smith Douglas Homes in the third quarter worth about $34,000. RiverPark Advisors LLC acquired a new stake in shares of Smith Douglas Homes during the second quarter worth about $120,000. Sandia Investment Management LP purchased a new stake in Smith Douglas Homes in the first quarter valued at approximately $178,000. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in Smith Douglas Homes by 38.0% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 26,226 shares of the company’s stock worth $613,000 after buying an additional 7,217 shares during the period.

Analyst Ratings Changes

SDHC has been the subject of several research reports. Royal Bank of Canada restated a “sector perform” rating and set a $26.00 price objective on shares of Smith Douglas Homes in a research note on Thursday, August 15th. Bank of America upped their price target on shares of Smith Douglas Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Wells Fargo & Company lifted their price objective on Smith Douglas Homes from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Wedbush restated a “neutral” rating and issued a $20.00 target price on shares of Smith Douglas Homes in a research note on Wednesday, August 14th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $31.50.

Smith Douglas Homes Trading Down 0.5 %

Shares of Smith Douglas Homes stock opened at $34.09 on Friday. Smith Douglas Homes Corp. has a fifty-two week low of $20.55 and a fifty-two week high of $39.50. The firm has a 50-day simple moving average of $36.26 and a two-hundred day simple moving average of $30.33.

Smith Douglas Homes (NYSE:SDHC) last issued its quarterly 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 business had revenue of $220.90 million for the quarter, compared to analysts’ expectations of $208.02 million. The company’s quarterly revenue was up 21.7% compared to the same quarter last year. On average, equities research analysts forecast that Smith Douglas Homes Corp. will post 1.66 earnings per share for the current year.

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.