M.D.C. Holdings, Inc. (NYSE:MDC) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Wednesday.
Several other research firms also recently weighed in on MDC. Zacks Investment Research raised shares of M.D.C. Holdings from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Thursday, June 29th. Bank of America Corporation reiterated an “underperform” rating and set a $27.00 price objective (up from $24.00) on shares of M.D.C. Holdings in a report on Wednesday, June 28th. Wells Fargo & Company cut shares of M.D.C. Holdings from a “market perform” rating to an “underperform” rating and set a $30.00 price objective for the company. in a report on Tuesday, May 16th. Deutsche Bank AG lifted their price objective on shares of M.D.C. Holdings from $27.00 to $33.00 and gave the company a “hold” rating in a report on Thursday, August 3rd. Finally, Citigroup Inc. cut shares of M.D.C. Holdings from a “buy” rating to a “neutral” rating in a report on Wednesday, May 10th. Four research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. M.D.C. Holdings currently has an average rating of “Hold” and an average target price of $31.20.
Shares of M.D.C. Holdings (NYSE:MDC) opened at 31.78 on Wednesday. The firm has a market cap of $1.65 billion, a PE ratio of 13.47 and a beta of 1.36. The stock has a 50 day moving average price of $34.66 and a 200 day moving average price of $32.34. M.D.C. Holdings has a 12 month low of $21.25 and a 12 month high of $36.92.
M.D.C. Holdings (NYSE:MDC) last posted its quarterly earnings results on Tuesday, August 1st. The construction company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.03. M.D.C. Holdings had a net margin of 4.76% and a return on equity of 9.25%. The firm had revenue of $648.97 million during the quarter, compared to the consensus estimate of $623.95 million. During the same period in the previous year, the firm posted $0.55 earnings per share. The business’s revenue was up 13.6% compared to the same quarter last year. On average, equities research analysts expect that M.D.C. Holdings will post $2.43 EPS for the current year.
In other M.D.C. Holdings news, Director David E. Blackford sold 26,250 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $36.11, for a total value of $947,887.50. Following the transaction, 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 SEC, which can be accessed through this hyperlink. 25.30% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in M.D.C. Holdings by 61,394.6% in the first quarter. BlackRock Inc. now owns 5,836,452 shares of the construction company’s stock valued at $175,386,000 after buying an additional 5,826,961 shares during the period. Hamlin Capital Management LLC raised its stake in M.D.C. Holdings by 62.0% in the first quarter. Hamlin Capital Management LLC now owns 1,475,761 shares of the construction company’s stock valued at $44,347,000 after buying an additional 564,646 shares during the period. Vanguard Group Inc. raised its stake in M.D.C. Holdings by 14.8% in the second quarter. Vanguard Group Inc. now owns 4,347,875 shares of the construction company’s stock valued at $153,611,000 after buying an additional 561,481 shares during the period. Koch Industries Inc. acquired a new stake in M.D.C. Holdings during the second quarter valued at about $342,000. Finally, State Street Corp raised its stake in M.D.C. Holdings by 19.8% in the first quarter. State Street Corp now owns 1,494,833 shares of the construction company’s stock valued at $44,919,000 after buying an additional 247,408 shares during the period. 81.54% of the stock is currently owned by institutional investors.
About M.D.C. Holdings
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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