Insider Selling: Melcor Developments (TSE:MRD) Director Sells 10,000 Shares of Company Stock

Melcor Developments Ltd. (TSE:MRD) Director Ralph Barclay Young sold 10,000 shares of the company’s stock in a transaction on Thursday, October 8th. The shares were sold at an average price of C$17.50, for a total value of C$175,000.00. Following the completion of the transaction, the director directly owned 90,000 shares in the company, valued at approximately C$1,575,000. The trade was a 10.00% decrease in their ownership of the stock.

Melcor Developments Stock Performance

MRD stock traded down C$0.15 during midday trading on Tuesday, reaching C$18.65. The stock had a trading volume of 10,882 shares, compared to its average volume of 8,230. The stock has a market cap of C$558.92 million, a PE ratio of 6.22 and a beta of 0.57. The company has a debt-to-equity ratio of 37.81, a quick ratio of 2.65 and a current ratio of 5.10. The firm has a fifty day simple moving average of C$18.63 and a two-hundred day simple moving average of C$18.49. Melcor Developments Ltd. has a 52-week low of C$14.18 and a 52-week high of C$19.47.

Melcor Developments (TSE:MRD) last issued its quarterly earnings results on Thursday, August 13th. The company reported C$0.73 EPS for the quarter. The company had revenue of C$61.99 million during the quarter. Melcor Developments had a return on equity of 7.14% and a net margin of 24.75%. As a group, equities research analysts anticipate that Melcor Developments Ltd. will post 2.36 EPS for the current year.

Melcor Developments Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.2%. Melcor Developments’s payout ratio is 18.67%.

Melcor Developments Company Profile

Melcor is a diversified real estate development and asset management company that transforms real estate from raw land through to high-quality finished product in both residential and commercial built form. Melcor develops and manages mixed-use residential communities, business and industrial parks, office buildings, retail commercial centres and golf courses. Melcor owns a well diversified portfolio of assets in Alberta, Saskatchewan, British Columbia, Arizona and Colorado. Melcor has been focused on real estate since 1923.