M.D.C. (NYSE:MDC – Get Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
MDC has been the topic of a number of other research reports. JPMorgan Chase & Co. downgraded M.D.C. from a “neutral” rating to an “underweight” rating and lifted their target price for the company from $27.00 to $28.00 in a research report on Tuesday, November 22nd. Wedbush lowered their target price on M.D.C. to $28.00 in a research note on Friday, November 4th. Finally, Raymond James cut M.D.C. from a “strong-buy” rating to a “market perform” rating in a research report on Friday, October 21st. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $27.67.
M.D.C. Trading Up 0.9 %
M.D.C. stock opened at $33.00 on Friday. M.D.C. has a one year low of $27.04 and a one year high of $56.53. The stock has a market cap of $2.35 billion, a PE ratio of 3.75 and a beta of 1.38. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.80 and a current ratio of 8.08. The stock has a 50-day moving average of $30.89 and a two-hundred day moving average of $32.30.
M.D.C. (NYSE:MDC – Get Rating) last posted its earnings results on Thursday, October 27th. The construction company reported $1.98 EPS for the quarter, missing the consensus estimate of $2.24 by ($0.26). M.D.C. had a return on equity of 23.05% and a net margin of 11.39%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.40 billion. On average, research analysts anticipate that M.D.C. will post 8.14 EPS for the current fiscal year.
Insider Activity
In other M.D.C. news, CEO David D. Mandarich sold 866,029 shares of M.D.C. stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $32.47, for a total value of $28,119,961.63. Following the completion of the transaction, the chief executive officer now directly owns 5,263,634 shares in the company, valued at $170,910,195.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 24.20% of the company’s stock.
Institutional Investors Weigh In On M.D.C.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MDC. Tompkins Financial Corp purchased a new position in M.D.C. during the 1st quarter worth approximately $25,000. CWM LLC lifted its position in M.D.C. by 70.3% during the 3rd quarter. CWM LLC now owns 901 shares of the construction company’s stock worth $25,000 after acquiring an additional 372 shares during the last quarter. Fifth Third Bancorp lifted its position in M.D.C. by 94.0% during the 2nd quarter. Fifth Third Bancorp now owns 838 shares of the construction company’s stock worth $27,000 after acquiring an additional 406 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in M.D.C. during the 1st quarter worth $42,000. Finally, Amundi raised its position in shares of M.D.C. by 36.9% during the second quarter. Amundi now owns 1,320 shares of the construction company’s stock valued at $43,000 after buying an additional 356 shares during the last quarter. Institutional investors own 73.19% of the company’s stock.
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.
Further Reading
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Read More: M.D.C. (NYSE:MDC) Lifted to “Hold” at StockNews.com