M.D.C. Holdings, Inc. (MDC) Stake Reduced by Heartland Advisors Inc.
Heartland Advisors Inc. decreased its stake in M.D.C. Holdings, Inc. (NYSE:MDC) by 37.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 250,001 shares of the construction company’s stock after selling 150,000 shares during the period. Heartland Advisors Inc. owned about 0.48% of M.D.C. Holdings worth $8,833,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of MDC. Winslow Evans & Crocker Inc. boosted its stake in shares of M.D.C. Holdings by 34.0% in the second quarter. Winslow Evans & Crocker Inc. now owns 4,042 shares of the construction company’s stock worth $139,000 after buying an additional 1,026 shares in the last quarter. BlackRock Inc. raised its position in M.D.C. Holdings by 61,394.6% in the first quarter. BlackRock Inc. now owns 5,836,452 shares of the construction company’s stock worth $175,386,000 after buying an additional 5,826,961 shares during the last quarter. HighTower Advisors LLC raised its position in M.D.C. Holdings by 11.4% in the first quarter. HighTower Advisors LLC now owns 9,311 shares of the construction company’s stock worth $274,000 after buying an additional 951 shares during the last quarter. Algert Global LLC bought a new position in M.D.C. Holdings during the first quarter worth about $1,025,000. Finally, Karp Capital Management Corp bought a new position in M.D.C. Holdings during the first quarter worth about $680,000. Hedge funds and other institutional investors own 81.59% of the company’s stock.
M.D.C. Holdings, Inc. (NYSE:MDC) opened at 31.25 on Friday. M.D.C. Holdings, Inc. has a 12-month low of $21.25 and a 12-month high of $36.92. The firm’s 50-day moving average price is $33.70 and its 200-day moving average price is $32.49. The company has a market cap of $1.62 billion, a P/E ratio of 13.24 and a beta of 1.36.
M.D.C. Holdings (NYSE:MDC) last released its quarterly earnings data on Tuesday, August 1st. The construction company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.03. M.D.C. Holdings had a return on equity of 9.25% and a net margin of 4.76%. The company had revenue of $648.97 million for the quarter, compared to analyst estimates of $623.95 million. During the same period in the prior year, the company posted $0.55 EPS. The company’s revenue was up 13.6% compared to the same quarter last year. Analysts expect that M.D.C. Holdings, Inc. will post $2.44 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.20%. The ex-dividend date was Monday, August 7th.
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A number of brokerages recently weighed in on MDC. Wells Fargo & Company lowered M.D.C. Holdings from a “market perform” rating to an “underperform” rating and set a $30.00 price objective on the stock. in a report on Tuesday, May 16th. Zacks Investment Research downgraded M.D.C. Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, June 28th. Citigroup Inc. downgraded M.D.C. Holdings from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 10th. Bank of America Corporation restated an “underperform” rating and issued a $27.00 price objective (up from $24.00) on shares of M.D.C. Holdings in a research report on Wednesday, June 28th. Finally, BidaskClub upgraded M.D.C. Holdings from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 29th. Four analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $31.20.
In other news, Director David E. Blackford sold 26,250 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $36.11, for a total value of $947,887.50. Following the transaction, the director now directly owns 40,928 shares of the company’s stock, valued at approximately $1,477,910.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 25.30% of the stock is owned by insiders.
About M.D.C. Holdings
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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