M.D.C. (NYSE:MDC) Coverage Initiated at StockNews.com

Analysts at StockNews.com initiated coverage on shares of M.D.C. (NYSE:MDCGet Free Report) in a report released on Friday. The brokerage set a “hold” rating on the construction company’s stock.

A number of other research analysts have also recently weighed in on MDC. Raymond James restated a “market perform” rating on shares of M.D.C. in a research note on Wednesday, February 7th. Evercore ISI cut shares of M.D.C. from an “outperform” rating to an “in-line” rating and lifted their target price 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 assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $52.13.

Read Our Latest Report on M.D.C.

M.D.C. Stock Performance

Shares of M.D.C. stock opened at $62.98 on Friday. The company’s fifty day simple moving average is $62.72 and its 200-day simple moving average is $53.92. The stock has a market capitalization of $4.73 billion, a PE ratio of 11.93 and a beta of 1.54. M.D.C. 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 released its earnings results on Tuesday, January 30th. The construction company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.06. M.D.C. had a net margin of 8.64% and a return on equity of 12.32%. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the company earned $1.08 EPS. M.D.C.’s revenue for the quarter was down 11.9% on a year-over-year basis. As a group, equities analysts anticipate that M.D.C. will post 5.7 earnings per share for the current year.

Insider Buying and Selling at M.D.C.

In other M.D.C. news, Director David E. Blackford sold 6,200 shares of M.D.C. stock in a transaction on Monday, March 11th. The shares were sold at an average price of $62.69, for a total value of $388,678.00. Following the sale, the director now directly owns 13,534 shares in the company, valued at approximately $848,446.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 23.30% of the stock is currently owned by insiders.

Institutional Trading of M.D.C.

A number of large investors have recently made changes to their positions in MDC. Moneta Group Investment Advisors LLC bought a new stake in shares of M.D.C. in the 4th quarter worth about $263,371,000. Pacer Advisors Inc. increased its holdings 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 worth $137,723,000 after buying an additional 940,810 shares during the last quarter. Millennium Management LLC increased its holdings in shares of M.D.C. by 259.7% in the 4th quarter. Millennium Management LLC now owns 593,177 shares of the construction company’s stock worth $18,744,000 after buying an additional 428,286 shares during the last quarter. Norges Bank bought a new stake in shares of M.D.C. in the 4th quarter worth about $13,291,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of M.D.C. by 96.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 646,753 shares of the construction company’s stock worth $30,249,000 after buying an additional 318,101 shares during the last quarter. 88.08% of the stock is currently owned by institutional investors.

M.D.C. Company Profile

(Get 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.

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Analyst Recommendations for M.D.C. (NYSE:MDC)

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