M.D.C. (NYSE:MDC) Reaches New 12-Month High at $46.78

M.D.C. Holdings, Inc. (NYSE:MDC) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $46.78 and last traded at $46.65, with a volume of 105695 shares trading hands. The stock had previously closed at $46.00.

Several research firms have recently issued reports on MDC. Wedbush boosted their price target on shares of M.D.C. from $35.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, September 13th. ValuEngine lowered shares of M.D.C. from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Raymond James raised shares of M.D.C. from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from $42.00 to $49.00 in a research report on Friday, September 13th. Zacks Investment Research raised shares of M.D.C. from a “hold” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. raised shares of M.D.C. from an “underweight” rating to a “neutral” rating in a research report on Monday, July 8th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $40.75.

The firm’s 50 day moving average is $41.93 and its 200 day moving average is $35.65. The company has a market cap of $2.89 billion, a PE ratio of 12.75, a PEG ratio of 1.25 and a beta of 1.05. The company has a debt-to-equity ratio of 0.66, a current ratio of 9.12 and a quick ratio of 2.19.

M.D.C. (NYSE:MDC) last issued its quarterly earnings data on Wednesday, July 31st. The construction company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.78 by $0.08. The company had revenue of $732.84 million during the quarter, compared to analysts’ expectations of $727.20 million. M.D.C. had a net margin of 6.64% and a return on equity of 13.24%. M.D.C.’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.03 earnings per share. As a group, analysts anticipate that M.D.C. Holdings, Inc. will post 3.67 EPS for the current year.

In related news, CFO Jean-Frederic Viret sold 3,159 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $20.44, for a total transaction of $64,569.96. Also, Director Paris G. Reece III sold 25,030 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $36.55, for a total transaction of $914,846.50. Following the transaction, the director now directly owns 4,697 shares of the company’s stock, valued at approximately $171,675.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 123,862 shares of company stock valued at $5,162,869. 26.30% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in MDC. Captrust Financial Advisors grew its stake in M.D.C. by 86.0% in the 2nd quarter. Captrust Financial Advisors now owns 1,306 shares of the construction company’s stock worth $43,000 after buying an additional 604 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new position in M.D.C. in the 2nd quarter worth approximately $90,000. First Citizens Bank & Trust Co. purchased a new position in M.D.C. in the 3rd quarter worth approximately $203,000. Cambridge Investment Research Advisors Inc. purchased a new position in M.D.C. in the 2nd quarter worth approximately $218,000. Finally, GAM Holding AG purchased a new position in M.D.C. in the 2nd quarter worth approximately $252,000. 75.04% of the stock is owned by institutional investors and hedge funds.

M.D.C. Company Profile (NYSE:MDC)

M.DC Holdings, Inc, through its subsidiaries, engages in the homebuilding and financial service businesses. Its homebuilding operations include purchasing finished lots or developing lots for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the Richmond American Homes name.

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