Sei Investments Co. lessened its stake in shares of M.D.C. Holdings, Inc. (NYSE:MDC) by 51.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 21,936 shares of the construction company’s stock after selling 23,094 shares during the period. Sei Investments Co.’s holdings in M.D.C. were worth $675,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of M.D.C. during the 2nd quarter valued at $293,000. CIBC Private Wealth Group LLC lifted its position in shares of M.D.C. by 160.6% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 96,444 shares of the construction company’s stock valued at $2,967,000 after acquiring an additional 59,439 shares during the last quarter. Heartland Advisors Inc. lifted its position in shares of M.D.C. by 21.1% during the 2nd quarter. Heartland Advisors Inc. now owns 342,600 shares of the construction company’s stock valued at $10,542,000 after acquiring an additional 59,665 shares during the last quarter. IndexIQ Advisors LLC lifted its position in shares of M.D.C. by 10.0% during the 2nd quarter. IndexIQ Advisors LLC now owns 78,343 shares of the construction company’s stock valued at $2,411,000 after acquiring an additional 7,105 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of M.D.C. by 11.8% during the 2nd quarter. First Trust Advisors LP now owns 96,277 shares of the construction company’s stock valued at $2,962,000 after acquiring an additional 10,188 shares during the last quarter. Institutional investors own 77.54% of the company’s stock.
NYSE:MDC traded down $0.43 during trading hours on Friday, hitting $28.04. 553,469 shares of the stock traded hands, compared to its average volume of 560,324. M.D.C. Holdings, Inc. has a fifty-two week low of $26.45 and a fifty-two week high of $37.45. The company has a quick ratio of 2.49, a current ratio of 9.59 and a debt-to-equity ratio of 0.72. The company has a market cap of $1.67 billion, a P/E ratio of 10.87, a price-to-earnings-growth ratio of 0.43 and a beta of 1.43.
M.D.C. (NYSE:MDC) last posted its quarterly earnings results on Wednesday, August 1st. The construction company reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.27. M.D.C. had a net margin of 6.91% and a return on equity of 13.82%. The business had revenue of $749.60 million for the quarter, compared to the consensus estimate of $713.27 million. During the same period in the prior year, the business posted $0.64 earnings per share. M.D.C.’s revenue for the quarter was up 15.5% compared to the same quarter last year. Equities research analysts anticipate that M.D.C. Holdings, Inc. will post 3.79 earnings per share for the current year.
Several brokerages have issued reports on MDC. ValuEngine downgraded shares of M.D.C. from a “hold” rating to a “sell” rating in a research note on Saturday, September 22nd. JPMorgan Chase & Co. downgraded shares of M.D.C. from a “neutral” rating to an “underweight” rating and cut their target price for the company from $38.00 to $32.00 in a research note on Friday, September 21st. Zacks Investment Research downgraded shares of M.D.C. from a “buy” rating to a “hold” rating in a research note on Saturday, August 25th. Wedbush cut their target price on shares of M.D.C. from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, August 2nd. Finally, Bank of America raised shares of M.D.C. from an “underperform” rating to a “buy” rating and boosted their target price for the company from $36.00 to $42.00 in a research note on Thursday, August 2nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $35.57.
In other news, Chairman Larry A. Mizel sold 20,000 shares of the company’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $32.62, for a total value of $652,400.00. Following the transaction, the chairman now directly owns 131,867 shares of the company’s stock, valued at $4,301,501.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Larry A. Mizel sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $33.15, for a total transaction of $331,500.00. Following the completion of the transaction, the chairman now directly owns 121,867 shares in the company, valued at $4,039,891.05. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock worth $1,637,300 over the last ninety days. 27.00% of the stock is currently owned by company insiders.
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.
See Also: Intrinsic Value
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