M.D.C. Holdings, Inc. (NYSE:MDC) Short Interest Down 5.3% in November

M.D.C. Holdings, Inc. (NYSE:MDC) was the target of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 1,970,000 shares, a decrease of 5.3% from the October 31st total of 2,080,000 shares. Currently, 3.9% of the shares of the company are sold short. Based on an average daily trading volume, of 566,600 shares, the short-interest ratio is currently 3.5 days.

MDC has been the subject of a number of recent research reports. Cfra raised shares of M.D.C. from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Raymond James raised shares of M.D.C. from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $42.00 to $49.00 in a report on Friday, September 13th. Zacks Investment Research downgraded shares of M.D.C. from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. ValuEngine raised shares of M.D.C. from a “sell” rating to a “hold” rating in a report on Tuesday, November 19th. Finally, Zelman & Associates downgraded shares of M.D.C. from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $44.00.

NYSE MDC opened at $38.91 on Tuesday. The company has a quick ratio of 1.83, a current ratio of 9.08 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $2.45 billion, a P/E ratio of 10.60, a P/E/G ratio of 1.09 and a beta of 1.03. M.D.C. has a 12-month low of $25.77 and a 12-month high of $46.84. The firm has a 50-day moving average price of $40.98 and a two-hundred day moving average price of $37.73.

M.D.C. (NYSE:MDC) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $0.79 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.87 by ($0.08). The business had revenue of $750.27 million during the quarter, compared to the consensus estimate of $767.23 million. M.D.C. had a net margin of 6.58% and a return on equity of 12.73%. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 EPS. Equities analysts expect that M.D.C. will post 3.54 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date was Tuesday, November 12th. M.D.C.’s dividend payout ratio is currently 32.70%.

In related news, Director Michael A. Berman sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $70.52, for a total value of $705,200.00. Following the transaction, the director now owns 148,218 shares in the company, valued at approximately $10,452,333.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Raymond T. Baker sold 41,250 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $42.69, for a total transaction of $1,760,962.50. Following the completion of the transaction, the director now owns 45,462 shares in the company, valued at approximately $1,940,772.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,309 shares of company stock worth $3,381,670. 26.30% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in shares of M.D.C. by 6.5% during the 2nd quarter. BlackRock Inc. now owns 8,894,057 shares of the construction company’s stock worth $291,547,000 after acquiring an additional 539,112 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of M.D.C. by 305.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 312,176 shares of the construction company’s stock worth $10,056,000 after acquiring an additional 464,459 shares during the period. Nuveen Asset Management LLC bought a new stake in shares of M.D.C. during the 2nd quarter worth approximately $9,242,000. Bank of New York Mellon Corp lifted its holdings in shares of M.D.C. by 11.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,686,489 shares of the construction company’s stock worth $55,283,000 after acquiring an additional 178,230 shares during the period. Finally, Intrinsic Edge Capital Management LLC bought a new stake in shares of M.D.C. during the 2nd quarter worth approximately $5,069,000. 76.21% of the stock is owned by hedge funds and other institutional investors.

M.D.C. Company Profile

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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