M.D.C. (NYSE:MDC) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of M.D.C. (NYSE:MDC) in a research note released on Saturday. The firm issued a hold rating on the construction company’s stock.

MDC has been the topic of a number of other research reports. Evercore ISI downgraded M.D.C. from an outperform rating to an in-line rating and lifted their price target for the company from $57.00 to $63.00 in a report on Wednesday, January 31st. Raymond James reiterated a market perform rating on shares of M.D.C. in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $52.13.

M.D.C. Price Performance

MDC stock opened at $62.98 on Friday. M.D.C. has a one year low of $36.47 and a one year high of $63.00. The firm has a 50-day moving average of $62.82 and a two-hundred day moving average of $55.17. The firm has a market capitalization of $4.73 billion, a PE ratio of 11.93 and a beta of 1.54. The company has a current ratio of 9.76, a quick ratio of 3.92 and a debt-to-equity ratio of 0.50.

M.D.C. (NYSE:MDC) last issued its quarterly earnings results on Tuesday, January 30th. The construction company reported $1.56 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the firm earned $1.08 EPS. The firm’s quarterly revenue was down 11.9% on a year-over-year basis. On average, analysts forecast that M.D.C. will post 5.7 earnings per share for the current year.

Insider Buying and Selling

In related news, Director David E. Blackford sold 6,200 shares of the company’s 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 completion of the sale, the director now directly owns 13,534 shares in the company, valued at $848,446.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 23.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On M.D.C.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MDC. Sound Income Strategies LLC bought a new stake in M.D.C. during the fourth quarter valued at about $25,000. McGlone Suttner Wealth Management Inc. acquired a new stake in M.D.C. in the 4th quarter valued at approximately $25,000. GAMMA Investing LLC bought a new position in M.D.C. in the 4th quarter worth approximately $34,000. Clear Street Markets LLC acquired a new position in shares of M.D.C. during the third quarter worth approximately $29,000. Finally, Kingswood Wealth Advisors LLC bought a new stake in shares of M.D.C. in the fourth quarter valued at approximately $40,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

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.