Laurion Capital Management LP bought a new stake in shares of M.D.C. Holdings, Inc. (NYSE:MDC) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 53,938 shares of the construction company’s stock, valued at approximately $1,905,000. Laurion Capital Management LP owned about 0.10% of M.D.C. Holdings at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in MDC. Ameritas Investment Partners Inc. purchased a new stake in M.D.C. Holdings during the first quarter valued at approximately $108,000. Winslow Evans & Crocker Inc. increased its holdings in M.D.C. Holdings by 34.0% during the second quarter. Winslow Evans & Crocker Inc. now owns 4,042 shares of the construction company’s stock valued at $139,000 after buying an additional 1,026 shares during the last quarter. Amalgamated Bank purchased a new stake in M.D.C. Holdings during the second quarter valued at approximately $202,000. Parsec Financial Management Inc. purchased a new stake in M.D.C. Holdings during the second quarter valued at approximately $208,000. Finally, Capital Fund Management S.A. purchased a new stake in M.D.C. Holdings during the second quarter valued at approximately $223,000. 81.62% of the stock is owned by institutional investors and hedge funds.
In other news, Director David E. Blackford sold 26,250 shares of M.D.C. Holdings stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $36.11, for a total transaction of $947,887.50. Following the completion of the transaction, the director now directly owns 40,928 shares of the company’s stock, valued at approximately $1,477,910.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 25.30% of the stock is owned by insiders.
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M.D.C. Holdings (NYSE:MDC) last posted its earnings results on Tuesday, August 1st. The construction company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.03. The firm had revenue of $648.97 million during the quarter, compared to analyst estimates of $623.95 million. M.D.C. Holdings had a net margin of 4.76% and a return on equity of 9.25%. The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 EPS.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Monday, August 7th.
A number of analysts have commented on MDC shares. Wells Fargo & Company raised shares of M.D.C. Holdings from an “underperform” rating to a “market perform” rating and set a $30.00 target price for the company in a report on Wednesday, August 30th. They noted that the move was a valuation call. KeyCorp reaffirmed a “hold” rating on shares of M.D.C. Holdings in a report on Friday, August 25th. Zacks Investment Research raised shares of M.D.C. Holdings from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Thursday, June 29th. BidaskClub cut shares of M.D.C. Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Finally, Bank of America Corporation reaffirmed an “underperform” rating and set a $27.00 target price (up from $24.00) on shares of M.D.C. Holdings in a report on Wednesday, June 28th. Four investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and an average target price of $31.20.
About M.D.C. Holdings
M.DC Holdings, Inc is engaged in two primary operations, including homebuilding and financial services. The Company’s segments include West, including segments located in Arizona, California, Nevada and Washington; Mountain, including segments located in Colorado and Utah; East, including segments located in Virginia, Florida and Maryland, which includes Pennsylvania and New Jersey; mortgage operations, including HomeAmerican Mortgage Corporation, and Other, which includes Allegiant Insurance Company, Inc, StarAmerican Insurance Ltd., American Home Insurance Agency, Inc and American Home Title and Escrow Company.
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