Quantitative Investment Management LLC Buys 34,700 Shares of M.D.C. Holdings, Inc. (MDC)
Quantitative Investment Management LLC lifted its stake in shares of M.D.C. Holdings, Inc. (NYSE:MDC) by 91.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,500 shares of the construction company’s stock after purchasing an additional 34,700 shares during the period. Quantitative Investment Management LLC owned 0.14% of M.D.C. Holdings worth $2,561,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Winslow Evans & Crocker Inc. boosted its holdings in shares of M.D.C. Holdings by 34.0% during the 2nd 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 last quarter. BlackRock Inc. boosted its holdings in shares of M.D.C. Holdings by 61,394.6% during the 1st quarter. BlackRock Inc. now owns 5,836,452 shares of the construction company’s stock worth $175,386,000 after purchasing an additional 5,826,961 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of M.D.C. Holdings by 11.4% during the 1st quarter. HighTower Advisors LLC now owns 9,311 shares of the construction company’s stock worth $274,000 after purchasing an additional 951 shares during the last quarter. Federated Investors Inc. PA boosted its holdings in shares of M.D.C. Holdings by 80,713.5% during the 2nd quarter. Federated Investors Inc. PA now owns 244,865 shares of the construction company’s stock worth $8,651,000 after purchasing an additional 244,562 shares during the last quarter. Finally, Prudential Financial Inc. boosted its holdings in shares of M.D.C. Holdings by 87.7% during the 2nd quarter. Prudential Financial Inc. now owns 306,361 shares of the construction company’s stock worth $10,824,000 after purchasing an additional 143,140 shares during the last quarter. Institutional investors and hedge funds own 81.62% of the company’s stock.
Several research analysts have recently weighed in on MDC shares. KeyCorp restated a “hold” rating on shares of M.D.C. Holdings in a report on Friday, August 25th. Zacks Investment Research upgraded M.D.C. Holdings from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Thursday, June 29th. Wells Fargo & Company upgraded M.D.C. Holdings from an “underperform” rating to a “market perform” rating and set a $30.00 target price on the stock in a report on Wednesday, August 30th. They noted that the move was a valuation call. Finally, BidaskClub cut M.D.C. Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Four analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The company currently has an average rating of “Hold” and an average target price of $31.20.
Shares of M.D.C. Holdings, Inc. (MDC) opened at 32.60 on Thursday. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 13.81 and a beta of 1.35. The stock’s 50 day moving average is $32.18 and its 200 day moving average is $32.71. M.D.C. Holdings, Inc. has a 52-week low of $22.31 and a 52-week high of $36.92.
M.D.C. Holdings (NYSE:MDC) last released its quarterly earnings results on Tuesday, August 1st. The construction company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.61 by $0.03. The business had revenue of $648.97 million for the quarter, compared to analyst estimates of $623.95 million. M.D.C. Holdings had a net margin of 4.76% and a return on equity of 9.25%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.55 earnings per share. On average, equities analysts expect that M.D.C. Holdings, Inc. will post $2.43 earnings per share for the current fiscal year.
In related news, Director David E. Blackford sold 26,250 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $36.11, for a total transaction of $947,887.50. Following the sale, the director now owns 40,928 shares in the company, valued at $1,477,910.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 25.30% of the stock is owned by corporate insiders.
M.D.C. Holdings 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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