M.D.C. (NYSE:MDC) Sees Strong Trading Volume

Shares of M.D.C. Holdings, Inc. (NYSE:MDC) saw unusually-high trading volume on Thursday . Approximately 869,143 shares changed hands during trading, a decline of 54% from the previous session’s volume of 1,895,440 shares.The stock last traded at $62.98 and had previously closed at $62.95.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. StockNews.com initiated coverage on shares of M.D.C. in a research note on Thursday, April 11th. They issued a “hold” rating for the company. Evercore ISI downgraded shares of M.D.C. from an “outperform” rating to an “in-line” rating and lifted their price objective for the company from $57.00 to $63.00 in a research report on Wednesday, January 31st. Finally, Raymond James reiterated a “market perform” rating on shares of M.D.C. in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $52.13.

M.D.C. Trading Up 0.0 %

The stock has a market capitalization of $4.73 billion, a P/E ratio of 11.93 and a beta of 1.54. The company has a current ratio of 9.76, a quick ratio of 3.92 and a debt-to-equity ratio of 0.50. The business has a 50-day moving average price of $62.70 and a two-hundred day moving average price of $53.60.

M.D.C. (NYSE:MDC) last posted its quarterly earnings data on Tuesday, January 30th. The construction company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.06. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. M.D.C. had a net margin of 8.64% and a return on equity of 12.32%. M.D.C.’s revenue was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.08 earnings per share. On average, analysts expect that M.D.C. Holdings, Inc. will post 5.7 EPS for the current fiscal year.

Insider Buying and Selling at M.D.C.

In related news, Director David E. Blackford sold 6,200 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $62.69, for a total transaction of $388,678.00. Following the completion of the sale, the director now directly owns 13,534 shares in the company, valued at approximately $848,446.46. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 23.30% of the company’s stock.

Institutional Investors Weigh In On M.D.C.

Several hedge funds have recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. acquired a new position in M.D.C. in the 1st quarter worth about $259,000. Hoxton Planning & Management LLC acquired a new position in shares of M.D.C. in the first quarter valued at approximately $217,000. Arden Trust Co raised its holdings in M.D.C. by 5.3% in the 1st quarter. Arden Trust Co now owns 4,570 shares of the construction company’s stock valued at $288,000 after buying an additional 232 shares during the last quarter. Napatree Capital LLC bought a new stake in M.D.C. during the 4th quarter worth approximately $883,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of M.D.C. by 2.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 47,875 shares of the construction company’s stock valued at $2,645,000 after acquiring an additional 1,134 shares during the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

About M.D.C.

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.