Insider Selling: M.D.C. Holdings, Inc. (MDC) Chairman Sells $652,400.00 in Stock
M.D.C. Holdings, Inc. (NYSE:MDC) Chairman Larry A. Mizel sold 20,000 shares of the stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $32.62, for a total value of $652,400.00. Following the sale, the chairman now directly owns 131,867 shares of the company’s stock, valued at approximately $4,301,501.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of M.D.C. stock opened at $31.39 on Friday. The company has a quick ratio of 2.49, a current ratio of 9.59 and a debt-to-equity ratio of 0.72. The company has a market cap of $1.81 billion, a P/E ratio of 9.26, a price-to-earnings-growth ratio of 0.46 and a beta of 1.47. M.D.C. Holdings, Inc. has a 52 week low of $26.45 and a 52 week high of $37.45.
M.D.C. (NYSE:MDC) last announced its earnings results on Wednesday, August 1st. The construction company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.27. The company had revenue of $749.60 million during the quarter, compared to the consensus estimate of $713.27 million. M.D.C. had a return on equity of 13.82% and a net margin of 6.91%. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 earnings per share. equities analysts predict that M.D.C. Holdings, Inc. will post 3.79 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on the company. Zacks Investment Research lowered M.D.C. from a “buy” rating to a “hold” rating in a research note on Saturday, August 25th. ValuEngine lowered M.D.C. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. UBS Group reissued a “buy” rating and set a $35.00 price objective (up previously from $32.00) on shares of M.D.C. in a research note on Friday, May 4th. Wedbush reissued a “neutral” rating and set a $30.00 price objective (down previously from $33.00) on shares of M.D.C. in a research note on Friday, May 4th. Finally, Zelman & Associates raised M.D.C. from a “hold” rating to a “buy” rating in a research note on Friday, May 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. M.D.C. has an average rating of “Hold” and a consensus price target of $36.14.
Institutional investors have recently made changes to their positions in the stock. Dupont Capital Management Corp bought a new position in M.D.C. in the first quarter worth $1,244,000. Oppenheimer & Co. Inc. raised its holdings in M.D.C. by 17.5% in the first quarter. Oppenheimer & Co. Inc. now owns 43,092 shares of the construction company’s stock worth $1,203,000 after purchasing an additional 6,417 shares in the last quarter. Trexquant Investment LP bought a new position in M.D.C. in the first quarter worth $948,000. American Century Companies Inc. raised its holdings in M.D.C. by 1.2% in the first quarter. American Century Companies Inc. now owns 241,779 shares of the construction company’s stock worth $6,750,000 after purchasing an additional 2,751 shares in the last quarter. Finally, Opus Capital Group LLC bought a new position in M.D.C. in the first quarter worth $2,249,000. Institutional investors own 78.15% 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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