M.D.C. Holdings, Inc. (NYSE:MDC) saw a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 1,970,000 shares, a decline of 5.3% from the September 30th total of 2,080,000 shares. Based on an average daily volume of 566,600 shares, the days-to-cover ratio is presently 3.5 days. Currently, 3.9% of the company’s stock are sold short.
NYSE MDC traded up $0.76 on Monday, hitting $39.31. 13,396 shares of the company’s stock were exchanged, compared to its average volume of 824,529. The stock has a 50-day moving average of $41.85 and a 200-day moving average of $37.36. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 10.72, a P/E/G ratio of 1.06 and a beta of 1.04. The company has a current ratio of 9.08, a quick ratio of 1.83 and a debt-to-equity ratio of 0.66. M.D.C. has a 52 week low of $25.77 and a 52 week high of $46.84.
M.D.C. (NYSE:MDC) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $0.79 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.08). M.D.C. had a net margin of 6.58% and a return on equity of 12.73%. The business had revenue of $750.27 million during the quarter, compared to the consensus estimate of $767.23 million. During the same period in the previous year, the business posted $0.86 EPS. M.D.C.’s revenue was down 2.1% compared to the same quarter last year. As a group, analysts predict that M.D.C. will post 3.54 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a $0.30 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $1.20 dividend on an annualized basis and a yield of 3.05%. M.D.C.’s payout ratio is currently 32.70%.
In related news, Director Michael A. Berman sold 10,000 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $70.52, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Raymond T. Baker sold 41,250 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $42.69, for a total value of $1,760,962.50. Following the transaction, the director now directly owns 45,462 shares in the company, valued at $1,940,772.78. The disclosure for this sale can be found here. Insiders have sold a total of 75,309 shares of company stock worth $3,381,670 over the last 90 days. 26.30% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Captrust Financial Advisors lifted its stake in shares of M.D.C. by 86.0% in the 2nd quarter. Captrust Financial Advisors now owns 1,306 shares of the construction company’s stock valued at $43,000 after purchasing an additional 604 shares during the period. Flagship Harbor Advisors LLC raised its position in M.D.C. by 141.2% during the third quarter. Flagship Harbor Advisors LLC now owns 1,802 shares of the construction company’s stock valued at $77,000 after buying an additional 1,055 shares during the period. Tower Research Capital LLC TRC acquired a new position in M.D.C. in the 3rd quarter worth about $79,000. C M Bidwell & Associates Ltd. acquired a new position in shares of M.D.C. during the 2nd quarter valued at about $90,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of M.D.C. during the 3rd quarter valued at about $129,000. 73.50% of the stock is currently owned by institutional investors.
MDC has been the subject of a number of recent research reports. Wedbush increased their target price on M.D.C. from $35.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, September 13th. Zacks Investment Research downgraded M.D.C. from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Jefferies Financial Group reaffirmed a “buy” rating on shares of M.D.C. in a research report on Friday, November 15th. Cfra raised M.D.C. from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Finally, Raymond James raised M.D.C. from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $42.00 to $49.00 in a research report on Friday, September 13th. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. M.D.C. presently has an average rating of “Buy” and a consensus price target of $44.00.
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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