Chase Investment Counsel Corp Has $376,000 Holdings in M.D.C. Holdings, Inc. (NYSE:MDC)

Chase Investment Counsel Corp lessened its position in M.D.C. Holdings, Inc. (NYSE:MDC) by 18.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 6,806 shares of the construction company’s stock after selling 1,505 shares during the period. Chase Investment Counsel Corp’s holdings in M.D.C. were worth $376,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in MDC. CWM LLC grew its stake in M.D.C. by 31.7% in the third quarter. CWM LLC now owns 1,447 shares of the construction company’s stock valued at $60,000 after acquiring an additional 348 shares during the period. SG Americas Securities LLC acquired a new stake in M.D.C. in the third quarter valued at approximately $1,091,000. Raymond James Financial Services Advisors Inc. boosted its position in shares of M.D.C. by 3.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 110,424 shares of the construction company’s stock valued at $4,553,000 after buying an additional 4,004 shares during the last quarter. Total Clarity Wealth Management Inc. purchased a new position in shares of M.D.C. during the third quarter valued at approximately $300,000. Finally, Groesbeck Investment Management Corp NJ boosted its position in shares of M.D.C. by 4.4% during the third quarter. Groesbeck Investment Management Corp NJ now owns 24,528 shares of the construction company’s stock valued at $1,011,000 after buying an additional 1,035 shares during the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MDC shares. StockNews.com started coverage on M.D.C. in a research report on Saturday. They set a “hold” rating on the stock. Evercore ISI cut M.D.C. from an “outperform” rating to an “in-line” rating and lifted their target price for the company from $57.00 to $63.00 in a research report on Wednesday, January 31st. Finally, Raymond James reaffirmed a “market perform” rating on shares of M.D.C. in a research report 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. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $52.13.

M.D.C. Stock Performance

Shares of M.D.C. stock opened at $62.98 on Tuesday. The business’s fifty day simple moving average is $62.81 and its 200 day simple moving average is $55.00. The firm has a market capitalization of $4.73 billion, a P/E ratio of 11.93 and a beta of 1.54. M.D.C. Holdings, Inc. has a 12 month low of $36.47 and a 12 month high of $63.00. 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, topping analysts’ consensus estimates of $1.50 by $0.06. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. M.D.C. had a return on equity of 12.32% and a net margin of 8.64%. M.D.C.’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same period last year, the company posted $1.08 earnings per share. As a group, analysts anticipate that M.D.C. Holdings, Inc. will post 5.7 EPS for the current year.

Insider Buying and Selling

In related news, Director David E. Blackford sold 6,200 shares of M.D.C. stock in a transaction on Monday, March 11th. The stock was sold at an average price of $62.69, for a total transaction of $388,678.00. Following 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 accessible through this hyperlink. 23.30% of the stock is currently owned by corporate insiders.

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.