M.D.C. Holdings, Inc. (NYSE:MDC) Sees Large Drop in Short Interest

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

In related news, Director Raymond T. Baker sold 41,250 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $42.69, for a total value of $1,760,962.50. Following the sale, the director now owns 45,462 shares in the company, valued at approximately $1,940,772.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David E. Blackford sold 4,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $42.40, for a total value of $169,600.00. Following the completion of the sale, the director now owns 14,266 shares in the company, valued at approximately $604,878.40. The disclosure for this sale can be found here. Insiders sold a total of 75,309 shares of company stock worth $3,381,670 in the last quarter. Company insiders own 26.30% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Aptus Capital Advisors LLC boosted its position in shares of M.D.C. by 18.5% during the 2nd quarter. Aptus Capital Advisors LLC now owns 21,948 shares of the construction company’s stock worth $719,000 after acquiring an additional 3,432 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new position in shares of M.D.C. during the 2nd quarter worth about $90,000. Swiss National Bank boosted its position in shares of M.D.C. by 2.1% during the 2nd quarter. Swiss National Bank now owns 91,058 shares of the construction company’s stock worth $2,985,000 after acquiring an additional 1,900 shares in the last quarter. Rhumbline Advisers boosted its position in shares of M.D.C. by 4.2% during the 3rd quarter. Rhumbline Advisers now owns 175,574 shares of the construction company’s stock worth $7,567,000 after acquiring an additional 7,119 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of M.D.C. by 28.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 13,180 shares of the construction company’s stock worth $568,000 after acquiring an additional 2,941 shares in the last quarter. 76.21% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on MDC shares. Zacks Investment Research downgraded M.D.C. from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Wedbush upped their price target on M.D.C. from $35.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, September 13th. Zelman & Associates downgraded M.D.C. from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. ValuEngine upgraded M.D.C. from a “sell” rating to a “hold” rating in a report on Tuesday, November 19th. Finally, Raymond James upgraded M.D.C. from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $42.00 to $49.00 in a report on Friday, September 13th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $44.00.

Shares of NYSE MDC opened at $39.57 on Monday. The stock’s 50-day moving average is $41.23 and its two-hundred day moving average is $37.62. The company has a debt-to-equity ratio of 0.66, a current ratio of 9.08 and a quick ratio of 1.83. M.D.C. has a 1-year low of $25.77 and a 1-year high of $46.84. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 10.78, a price-to-earnings-growth ratio of 1.09 and a beta of 1.04.

M.D.C. (NYSE:MDC) last issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $0.79 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.08). M.D.C. had a return on equity of 12.73% and a net margin of 6.58%. The company had revenue of $750.27 million for the quarter, compared to analysts’ expectations of $767.23 million. During the same quarter last year, the company earned $0.86 EPS. M.D.C.’s revenue for the quarter was down 2.1% compared to the same quarter last year. Equities research analysts anticipate that M.D.C. will post 3.54 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.20 annualized dividend and a yield of 3.03%. M.D.C.’s dividend payout ratio (DPR) is 32.70%.

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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