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M.D.C. Holdings, Inc. (NYSE:MDC) Sees Large Decrease in Short Interest

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.

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.

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