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.
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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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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