Wells Fargo & Company MN cut its holdings in M.D.C. Holdings, Inc. (NYSE:MDC) by 9.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 121,475 shares of the construction company’s stock after selling 13,244 shares during the period. Wells Fargo & Company MN owned about 0.20% of M.D.C. worth $3,981,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in MDC. Penserra Capital Management LLC bought a new position in shares of M.D.C. during the 1st quarter worth approximately $56,000. CIBC Asset Management Inc purchased a new stake in M.D.C. in the 1st quarter valued at $212,000. Magnus Financial Group LLC increased its holdings in M.D.C. by 8.0% in the 1st quarter. Magnus Financial Group LLC now owns 7,996 shares of the construction company’s stock worth $232,000 after acquiring an additional 592 shares during the last quarter. Sawtooth Solutions LLC purchased a new stake in M.D.C. in the 1st quarter worth about $243,000. Finally, WINTON GROUP Ltd bought a new position in M.D.C. in the 2nd quarter worth about $316,000. 74.84% of the stock is owned by institutional investors.
MDC traded up $0.10 during midday trading on Friday, reaching $42.43. The company had a trading volume of 579,236 shares, compared to its average volume of 534,979. The company has a quick ratio of 2.19, a current ratio of 9.12 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average of $38.02 and a two-hundred day moving average of $33.58. The company has a market cap of $2.66 billion, a P/E ratio of 12.72, a P/E/G ratio of 1.18 and a beta of 1.08. M.D.C. Holdings, Inc. has a 1 year low of $25.14 and a 1 year high of $44.01.
M.D.C. (NYSE:MDC) last issued its quarterly earnings results on Wednesday, July 31st. The construction company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.08. The business had revenue of $732.84 million during the quarter, compared to analysts’ expectations of $727.20 million. M.D.C. had a return on equity of 13.24% and a net margin of 6.64%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.03 earnings per share. On average, equities research analysts predict that M.D.C. Holdings, Inc. will post 3.67 EPS for the current year.
MDC has been the subject of a number of research analyst reports. Wedbush lifted their price target on M.D.C. from $35.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, September 13th. ValuEngine cut M.D.C. from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Raymond James upgraded M.D.C. from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $42.00 to $49.00 in a research report on Friday, September 13th. Zacks Investment Research upgraded M.D.C. from a “hold” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. raised M.D.C. from an “underweight” rating to a “neutral” rating in a report on Monday, July 8th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. M.D.C. has an average rating of “Buy” and a consensus price target of $38.17.
In other news, Director David E. Blackford sold 4,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $42.40, for a total value of $169,600.00. Following the completion of the transaction, the director now owns 14,266 shares of the company’s stock, valued at $604,878.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael A. Berman sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $70.52, for a total value of $705,200.00. Following the transaction, the director now directly owns 148,218 shares of the company’s stock, valued at $10,452,333.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 120,703 shares of company stock valued at $5,098,299. Company insiders own 26.30% 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.
Featured Story: Risk Tolerance
Want to see what other hedge funds are holding MDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for M.D.C. Holdings, Inc. (NYSE:MDC).
Receive News & Ratings for M.D.C. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M.D.C. and related companies with MarketBeat.com's FREE daily email newsletter.