M.D.C. Holdings, Inc. (NYSE:MDC) Director Michael A. Berman sold 6,900 shares of M.D.C. stock in a transaction on Monday, September 16th. The stock was sold at an average price of $42.02, for a total transaction of $289,938.00. Following the transaction, the director now directly owns 16,167 shares of the company’s stock, valued at $679,337.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of MDC opened at $42.33 on Friday. The firm has a market capitalization of $2.64 billion, a P/E ratio of 12.66, a P/E/G ratio of 1.18 and a beta of 1.08. M.D.C. Holdings, Inc. has a 12-month low of $25.14 and a 12-month high of $44.01. The company has a current ratio of 9.12, a quick ratio of 2.19 and a debt-to-equity ratio of 0.66. The firm has a fifty day moving average price of $37.89 and a 200-day moving average price of $33.51.
M.D.C. (NYSE:MDC) last issued its earnings results on Wednesday, July 31st. The construction company reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.08. The firm had revenue of $732.84 million during the quarter, compared to analyst estimates of $727.20 million. M.D.C. had a net margin of 6.64% and a return on equity of 13.24%. The business’s revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 earnings per share. Analysts predict that M.D.C. Holdings, Inc. will post 3.67 earnings per share for the current year.
MDC has been the subject of a number of recent analyst reports. ValuEngine lowered shares of M.D.C. from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research raised shares of M.D.C. from a “hold” rating to a “strong-buy” rating and set a $42.00 target price for the company in a research note on Wednesday, July 10th. Wedbush boosted their target price on shares of M.D.C. from $35.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, September 13th. Raymond James raised shares of M.D.C. from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $42.00 to $49.00 in a research note on Friday, September 13th. Finally, JPMorgan Chase & Co. raised shares of M.D.C. from an “underweight” rating to a “neutral” rating in a research note on Monday, July 8th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. M.D.C. currently has an average rating of “Buy” and an average target price of $38.17.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in M.D.C. by 6.5% in the second quarter. BlackRock Inc. now owns 8,894,057 shares of the construction company’s stock worth $291,547,000 after purchasing an additional 539,112 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in M.D.C. by 305.0% in the second quarter. JPMorgan Chase & Co. now owns 312,176 shares of the construction company’s stock worth $10,056,000 after purchasing an additional 464,459 shares in the last quarter. Nuveen Asset Management LLC bought a new position in M.D.C. in the second quarter worth about $9,242,000. Bank of New York Mellon Corp raised its holdings in M.D.C. by 11.8% in the second quarter. Bank of New York Mellon Corp now owns 1,686,489 shares of the construction company’s stock worth $55,283,000 after purchasing an additional 178,230 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC bought a new position in M.D.C. in the second quarter worth about $5,069,000. Hedge funds and other institutional investors own 74.84% of the company’s stock.
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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