M.D.C. (MDC) Trading 5.6% Higher

Shares of M.D.C. Holdings, Inc. (NYSE:MDC) traded up 5.6% during mid-day trading on Wednesday . The company traded as high as $34.44 and last traded at $34.39. 875,111 shares traded hands during trading, an increase of 24% from the average session volume of 705,906 shares. The stock had previously closed at $32.56.

A number of analysts recently issued reports on the stock. Citigroup dropped their target price on shares of M.D.C. from $37.00 to $34.00 and set a “neutral” rating for the company in a research report on Friday, November 3rd. ValuEngine downgraded shares of M.D.C. from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd. Zacks Investment Research raised shares of M.D.C. from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th. KeyCorp reaffirmed a “hold” rating on shares of M.D.C. in a research report on Tuesday, September 26th. Finally, UBS Group lowered their price objective on shares of M.D.C. from $34.00 to $32.00 and set a “sell” rating for the company in a research report on Monday, November 6th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $30.33.

The company has a market cap of $1,930.00, a P/E ratio of 12.37, a P/E/G ratio of 1.05 and a beta of 1.38. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.60 and a current ratio of 9.45.

M.D.C. (NYSE:MDC) last released its earnings results on Thursday, November 2nd. The construction company reported $1.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.55. The company had revenue of $586.30 million during the quarter, compared to analysts’ expectations of $595.05 million. M.D.C. had a return on equity of 11.66% and a net margin of 6.09%. The business’s revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 EPS. research analysts anticipate that M.D.C. Holdings, Inc. will post 2.69 earnings per share for the current fiscal year.

In related news, Director David Siegel sold 2,500 shares of the firm’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $31.83, for a total transaction of $79,575.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Herbert T. Buchwald sold 28,350 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $31.52, for a total value of $893,592.00. The disclosure for this sale can be found here. Corporate insiders own 25.30% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in MDC. Vanguard Group Inc. lifted its stake in M.D.C. by 14.8% during the second quarter. Vanguard Group Inc. now owns 4,347,875 shares of the construction company’s stock worth $153,611,000 after purchasing an additional 561,481 shares during the last quarter. Koch Industries Inc. bought a new stake in M.D.C. in the second quarter valued at $342,000. JPMorgan Chase & Co. lifted its stake in M.D.C. by 120.9% in the third quarter. JPMorgan Chase & Co. now owns 547,871 shares of the construction company’s stock valued at $18,020,000 after buying an additional 299,904 shares during the last quarter. Prudential Financial Inc. lifted its stake in M.D.C. by 90.6% in the third quarter. Prudential Financial Inc. now owns 583,941 shares of the construction company’s stock valued at $19,393,000 after buying an additional 277,580 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in M.D.C. by 37.8% in the third quarter. Canada Pension Plan Investment Board now owns 526,435 shares of the construction company’s stock valued at $17,483,000 after buying an additional 144,300 shares during the last quarter. Hedge funds and other institutional investors own 74.09% of the company’s stock.

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About M.D.C.

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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