Shares of M.D.C. Holdings, Inc. (NYSE:MDC) have been given a consensus rating of “Hold” by the seven brokerages that are currently covering the firm. Two research analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $27.67.
Several brokerages have weighed in on MDC. Zacks Investment Research downgraded M.D.C. Holdings from a “buy” rating to a “hold” rating in a report on Wednesday. Citigroup Inc downgraded M.D.C. Holdings from a “buy” rating to a “neutral” rating in a report on Wednesday, May 10th. Wells Fargo & Co downgraded M.D.C. Holdings from a “market perform” rating to an “underperform” rating and set a $30.00 price target for the company. in a report on Tuesday. FBN Securities downgraded M.D.C. Holdings from an “outperform” rating to a “sector perform” rating in a report on Friday, March 17th. Finally, Evercore ISI downgraded M.D.C. Holdings from a “hold” rating to a “sell” rating and set a $26.00 price target for the company. in a report on Monday, January 30th.
In other news, SVP Michael Touff sold 84,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $34.40, for a total value of $2,889,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Herbert T. Buchwald sold 26,250 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $34.14, for a total value of $896,175.00. The disclosure for this sale can be found here. Insiders sold 226,250 shares of company stock valued at $7,551,903 over the last 90 days. Company insiders own 26.00% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. acquired a new stake in M.D.C. Holdings during the first quarter worth approximately $108,000. Pacad Investment Ltd. purchased a new stake in shares of M.D.C. Holdings during the fourth quarter worth about $110,000. Glen Harbor Capital Management LLC raised its stake in shares of M.D.C. Holdings by 18.8% in the first quarter. Glen Harbor Capital Management LLC now owns 3,876 shares of the construction company’s stock worth $116,000 after buying an additional 612 shares in the last quarter. Acrospire Investment Management LLC purchased a new stake in shares of M.D.C. Holdings during the first quarter worth about $125,000. Finally, State of Alaska Department of Revenue raised its stake in shares of M.D.C. Holdings by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 4,562 shares of the construction company’s stock worth $137,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 74.58% of the company’s stock.
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Shares of M.D.C. Holdings (NYSE:MDC) traded up 1.73% on Friday, hitting $34.78. 193,700 shares of the company traded hands. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 15.54 and a beta of 1.33. M.D.C. Holdings has a 1-year low of $20.89 and a 1-year high of $35.99. The firm’s 50 day moving average price is $31.45 and its 200-day moving average price is $28.01.
M.D.C. Holdings (NYSE:MDC) last released its earnings results on Tuesday, May 9th. The construction company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. M.D.C. Holdings had a return on equity of 8.02% and a net margin of 4.44%. The business had revenue of $563.70 million for the quarter, compared to analyst estimates of $503.65 million. During the same quarter last year, the firm posted $0.20 earnings per share. The business’s revenue was up 42.1% compared to the same quarter last year. On average, equities research analysts expect that M.D.C. Holdings will post $2.52 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 24th. Stockholders of record on Wednesday, May 10th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Monday, May 8th.
M.D.C. Holdings Company Profile
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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