SummerHaven Investment Management LLC Has $846,000 Stock Holdings in M.D.C. Holdings, Inc. (NYSE:MDC)

SummerHaven Investment Management LLC lifted its stake in M.D.C. Holdings, Inc. (NYSE:MDC) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,308 shares of the construction company’s stock after acquiring an additional 205 shares during the quarter. SummerHaven Investment Management LLC’s holdings in M.D.C. were worth $846,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Truist Financial Corp increased its stake in shares of M.D.C. by 11.2% in the fourth quarter. Truist Financial Corp now owns 26,635 shares of the construction company’s stock worth $1,472,000 after acquiring an additional 2,693 shares during the last quarter. Bahl & Gaynor Inc. increased its stake in shares of M.D.C. by 1.9% in the fourth quarter. Bahl & Gaynor Inc. now owns 430,168 shares of the construction company’s stock worth $23,767,000 after acquiring an additional 8,065 shares during the last quarter. O Brien Greene & Co. Inc acquired a new position in shares of M.D.C. in the fourth quarter worth $233,000. Meritage Portfolio Management boosted its holdings in M.D.C. by 5.6% in the fourth quarter. Meritage Portfolio Management now owns 6,998 shares of the construction company’s stock worth $387,000 after purchasing an additional 373 shares in the last quarter. Finally, Atria Wealth Solutions Inc. bought a new stake in M.D.C. in the fourth quarter worth $451,000. 88.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Raymond James reiterated a “market perform” rating on shares of M.D.C. in a report on Wednesday, February 7th. StockNews.com assumed coverage on shares of M.D.C. in a report on Saturday. They issued a “hold” rating for the company. Finally, Evercore ISI cut shares of M.D.C. from an “outperform” rating to an “in-line” rating and upped their price objective for the stock from $57.00 to $63.00 in a report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $52.13.

M.D.C. Stock Performance

Shares of NYSE MDC traded up $0.03 during mid-day trading on Monday, hitting $62.98. The company had a trading volume of 6,414,200 shares, compared to its average volume of 1,973,656. The company has a debt-to-equity ratio of 0.50, a current ratio of 9.76 and a quick ratio of 3.92. The business’s 50-day simple moving average is $62.79 and its 200-day simple moving average is $54.83. M.D.C. Holdings, Inc. has a 12 month low of $36.47 and a 12 month high of $63.00. The firm has a market cap of $4.73 billion, a P/E ratio of 11.93 and a beta of 1.54.

M.D.C. (NYSE:MDC) last released its earnings results on Tuesday, January 30th. The construction company reported $1.56 earnings per share 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 analysts’ expectations of $1.29 billion. During the same quarter last year, the company earned $1.08 earnings per share. The firm’s revenue was down 11.9% on a year-over-year basis. As a group, analysts predict that M.D.C. Holdings, Inc. will post 5.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director David E. Blackford sold 6,200 shares of the stock in a transaction dated 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 transaction, the director now owns 13,534 shares of the company’s stock, valued at $848,446.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 23.30% of the company’s stock.

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.