USA Financial Portformulas Corp Takes Position in M.D.C. Holdings, Inc. (MDC)
USA Financial Portformulas Corp purchased a new position in shares of M.D.C. Holdings, Inc. (NYSE:MDC) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 14,724 shares of the construction company’s stock, valued at approximately $520,000.
A number of other large investors also recently bought and sold shares of MDC. BlackRock Inc. raised its stake in M.D.C. Holdings by 61,394.6% during the first 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 period. Vanguard Group Inc. raised its stake in M.D.C. Holdings by 14.8% during the second quarter. Vanguard Group Inc. now owns 4,347,875 shares of the construction company’s stock worth $153,611,000 after purchasing an additional 561,481 shares during the period. Koch Industries Inc. purchased a new position in M.D.C. Holdings during the second quarter worth approximately $342,000. State Street Corp raised its stake in M.D.C. Holdings by 19.8% during the first quarter. State Street Corp now owns 1,494,833 shares of the construction company’s stock worth $44,919,000 after purchasing an additional 247,408 shares during the period. Finally, Federated Investors Inc. PA raised its stake in M.D.C. Holdings by 80,713.5% during the second 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 period. 81.62% of the stock is currently owned by institutional investors.
In other M.D.C. Holdings news, Director David E. Blackford sold 26,250 shares of M.D.C. Holdings stock in a transaction that occurred on Wednesday, August 2nd. The shares were 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 $1,477,910.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 25.30% of the stock is owned by insiders.
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Shares of M.D.C. Holdings, Inc. (NYSE MDC) traded down 1.14% during trading on Thursday, hitting $35.55. 33,515 shares of the stock were exchanged. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 15.06 and a beta of 1.34. The stock’s 50 day moving average is $32.94 and its 200-day moving average is $33.31. M.D.C. Holdings, Inc. has a 12-month low of $22.31 and a 12-month high of $36.92.
M.D.C. Holdings (NYSE:MDC) last announced its quarterly earnings data on Tuesday, August 1st. The construction company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.03. The firm had revenue of $648.97 million for the quarter, compared to the consensus estimate of $623.95 million. M.D.C. Holdings had a net margin of 4.76% and a return on equity of 9.25%. The firm’s revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.55 earnings per share. Equities research analysts anticipate that M.D.C. Holdings, Inc. will post $2.67 EPS for the current year.
A number of equities analysts have weighed in on the stock. Zacks Investment Research raised shares of M.D.C. Holdings from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. KeyCorp reaffirmed a “hold” rating on shares of M.D.C. Holdings in a research note on Tuesday, September 26th. Wells Fargo & Company raised shares of M.D.C. Holdings from an “underperform” rating to a “market perform” rating and set a $30.00 price target on the stock in a research note on Wednesday, August 30th. They noted that the move was a valuation call. BidaskClub downgraded shares of M.D.C. Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. Finally, Deutsche Bank AG increased their price target on shares of M.D.C. Holdings from $27.00 to $33.00 and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $29.00.
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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