SmileDirectClub’s Quiet Period Set To End Tomorrow (NASDAQ:SDC)

SmileDirectClub’s (NASDAQ:SDC) quiet period is set to end on Tuesday, October 22nd. SmileDirectClub had issued 58,537,000 shares in its initial public offering on September 12th. The total size of the offering was $1,346,351,000 based on an initial share price of $23.00. During SmileDirectClub’s quiet period, underwriters and any insiders that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

A number of equities analysts have recently issued reports on SDC shares. Jefferies Financial Group started coverage on SmileDirectClub in a research note on Monday, October 7th. They issued a “buy” rating and a $22.00 price target on the stock. Credit Suisse Group started coverage on SmileDirectClub in a research note on Monday, October 7th. They issued an “outperform” rating and a $18.00 price target on the stock. Guggenheim started coverage on SmileDirectClub in a research note on Monday, October 7th. They issued a “buy” rating and a $24.00 price target on the stock. Stifel Nicolaus started coverage on SmileDirectClub in a research note on Monday, October 7th. They issued a “buy” rating and a $19.00 price target on the stock. Finally, Loop Capital started coverage on SmileDirectClub in a research note on Monday, October 7th. They issued a “buy” rating and a $20.00 price target on the stock. Ten equities research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average price target of $21.78.

NASDAQ SDC opened at $9.46 on Monday. SmileDirectClub has a fifty-two week low of $8.73 and a fifty-two week high of $21.10.

In related news, major shareholder Cd&R Investment Associates X, sold 2,275,857 shares of SmileDirectClub stock in a transaction on Monday, September 16th. The stock was sold at an average price of $21.85, for a total transaction of $49,727,475.45. Also, CEO David B. Katzman bought 37,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were bought at an average price of $18.50 per share, for a total transaction of $684,500.00. Insiders have purchased 43,800 shares of company stock worth $808,019 over the last quarter.

A hedge fund recently bought a new stake in SmileDirectClub stock. Douglas Lane & Associates LLC bought a new position in SmileDirectClub (NASDAQ:SDC) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,991 shares of the company’s stock, valued at approximately $166,000.

SmileDirectClub Company Profile

SmileDirectClub, Inc operates a teledentistry platform that provides member's with a customized clear aligner therapy treatment in the United States and internationally. The company manages the end-to-end process, which include marketing, aligner manufacturing, fulfillment, treatment by a doctor, and monitoring through completion of their treatment proprietary with a network of approximately 240 state licensed orthodontists and general dentists through its teledentistry platform, SmileCheck.

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