Pinebridge Investments L.P. Purchases 25,094 Shares of M.D.C. Holdings, Inc. (MDC)
Pinebridge Investments L.P. lifted its position in M.D.C. Holdings, Inc. (NYSE:MDC) by 465.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,480 shares of the construction company’s stock after buying an additional 25,094 shares during the quarter. Pinebridge Investments L.P. owned about 0.06% of M.D.C. Holdings worth $1,077,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in MDC. Ameritas Investment Partners Inc. bought a new stake in shares of M.D.C. Holdings in the 1st quarter valued at approximately $108,000. Winslow Evans & Crocker Inc. boosted its position in M.D.C. Holdings by 34.0% during the second quarter. Winslow Evans & Crocker Inc. now owns 4,042 shares of the construction company’s stock worth $139,000 after purchasing an additional 1,026 shares during the period. Amalgamated Bank bought a new stake in M.D.C. Holdings during the second quarter worth approximately $202,000. Parsec Financial Management Inc. bought a new stake in M.D.C. Holdings during the second quarter worth approximately $208,000. Finally, Capital Fund Management S.A. bought a new stake in M.D.C. Holdings during the second quarter worth approximately $223,000. 81.62% of the stock is owned by institutional investors and hedge funds.
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In related news, Director David E. Blackford sold 26,250 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 40,928 shares in the company, valued at approximately $1,477,910.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 25.30% of the company’s stock.
M.D.C. Holdings, Inc. (MDC) opened at 32.60 on Thursday. M.D.C. Holdings, Inc. has a 52 week low of $22.31 and a 52 week high of $36.92. The company has a 50 day moving average price of $32.18 and a 200-day moving average price of $32.71. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 13.81 and a beta of 1.35.
M.D.C. Holdings (NYSE:MDC) last released its quarterly earnings results on Tuesday, August 1st. The construction company reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The business had revenue of $648.97 million during the quarter, compared to the consensus estimate of $623.95 million. M.D.C. Holdings had a return on equity of 9.25% and a net margin of 4.76%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 EPS. Equities analysts predict that M.D.C. Holdings, Inc. will post $2.43 earnings per share for the current year.
A number of equities research analysts have issued reports on the company. KeyCorp reaffirmed a “hold” rating on shares of M.D.C. Holdings in a research report on Tuesday. Wells Fargo & Company raised M.D.C. Holdings from an “underperform” rating to a “market perform” rating and set a $30.00 target price for the company in a research report on Wednesday, August 30th. They noted that the move was a valuation call. Zacks Investment Research cut M.D.C. Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, August 30th. BidaskClub cut M.D.C. Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Finally, Deutsche Bank AG upped their target price on M.D.C. Holdings from $27.00 to $33.00 and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Four research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $31.20.
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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