Assenagon Asset Management S.A. Makes New $2.23 Million Investment in M.D.C. Holdings, Inc. (NYSE:MDC)

Assenagon Asset Management S.A. acquired a new position in shares of M.D.C. Holdings, Inc. (NYSE:MDCFree Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 40,394 shares of the construction company’s stock, valued at approximately $2,232,000. Assenagon Asset Management S.A. owned approximately 0.05% of M.D.C. as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Kingswood Wealth Advisors LLC acquired a new stake in shares of M.D.C. in the 4th quarter valued at approximately $40,000. Pacer Advisors Inc. boosted its stake in shares of M.D.C. by 60.6% in the 4th quarter. Pacer Advisors Inc. now owns 2,492,733 shares of the construction company’s stock valued at $137,723,000 after purchasing an additional 940,810 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of M.D.C. by 7.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 118,820 shares of the construction company’s stock valued at $6,565,000 after purchasing an additional 8,396 shares in the last quarter. Raymond James & Associates boosted its stake in shares of M.D.C. by 23.0% in the 4th quarter. Raymond James & Associates now owns 898,855 shares of the construction company’s stock valued at $49,662,000 after purchasing an additional 168,214 shares in the last quarter. Finally, CoreCap Advisors LLC acquired a new stake in shares of M.D.C. in the 4th quarter valued at approximately $320,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MDC shares. Raymond James restated a “market perform” rating on shares of M.D.C. in a research note on Wednesday, February 7th. StockNews.com started coverage on shares of M.D.C. in a research note on Wednesday. They issued a “hold” rating on the stock. Finally, Evercore ISI downgraded shares of M.D.C. from an “outperform” rating to an “in-line” rating and raised their price target for the company from $57.00 to $63.00 in a research note on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, M.D.C. has a consensus rating of “Hold” and a consensus target price of $52.13.

Get Our Latest Analysis on M.D.C.

M.D.C. Stock Down 0.1 %

Shares of NYSE MDC opened at $62.92 on Thursday. The company has a 50 day simple moving average of $62.63 and a 200 day simple moving average of $52.13. The firm has a market cap of $4.72 billion, a PE ratio of 11.92 and a beta of 1.54. M.D.C. Holdings, Inc. has a 1 year low of $36.47 and a 1 year high of $63.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 9.76 and a quick ratio of 3.92.

M.D.C. (NYSE:MDCGet Free Report) last issued its quarterly earnings data on Tuesday, January 30th. The construction company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.06. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. M.D.C. had a net margin of 8.64% and a return on equity of 12.32%. The firm’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the business earned $1.08 EPS. On average, research analysts forecast that M.D.C. Holdings, Inc. will post 5.38 EPS for the current year.

M.D.C. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Shareholders of record on Wednesday, February 7th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $2.20 annualized dividend and a yield of 3.50%. M.D.C.’s payout ratio is 41.67%.

Insiders Place Their Bets

In other M.D.C. news, Director David E. Blackford sold 6,200 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $62.69, for a total transaction of $388,678.00. Following the completion of the transaction, the director now owns 13,534 shares in the company, valued at approximately $848,446.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 23.30% of the company’s stock.

M.D.C. Company Profile

(Free Report)

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

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Institutional Ownership by Quarter for M.D.C. (NYSE:MDC)

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