M.D.C. (NYSE:MDC) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of M.D.C. (NYSE:MDC) in a report released on Friday morning. The firm issued a hold rating on the construction company’s stock.

A number of other brokerages have also recently weighed in on MDC. Evercore ISI cut shares of M.D.C. from an outperform rating to an in-line rating and raised their price objective for the stock from $57.00 to $63.00 in a research note on Wednesday, January 31st. Raymond James reissued a market perform rating on shares of M.D.C. in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $52.13.

M.D.C. Price Performance

MDC stock opened at $62.98 on Friday. The firm has a 50 day moving average of $62.73 and a 200-day moving average of $54.18. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 11.93 and a beta of 1.54. 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. has a 12-month low of $36.47 and a 12-month high of $63.00.

M.D.C. (NYSE:MDC) last released its quarterly earnings results on Tuesday, January 30th. The construction company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.06. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. M.D.C. had a return on equity of 12.32% and a net margin of 8.64%. The business’s revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.08 EPS. As a group, equities analysts expect that M.D.C. will post 5.7 EPS for the current fiscal year.

Insider Activity at M.D.C.

In other news, Director David E. Blackford sold 6,200 shares of the company’s 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 completion of the sale, the director now directly owns 13,534 shares in the company, valued at approximately $848,446.46. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 23.30% of the company’s stock.

Institutional Trading of M.D.C.

Institutional investors and hedge funds have recently bought and sold shares of the business. Nilsine Partners LLC lifted its position in M.D.C. by 19.6% during the first quarter. Nilsine Partners LLC now owns 6,401 shares of the construction company’s stock valued at $403,000 after buying an additional 1,048 shares in the last quarter. FCG Investment Co acquired a new position in shares of M.D.C. during the 1st quarter valued at $225,000. Monument Capital Management purchased a new stake in M.D.C. during the 1st quarter worth $217,000. Hexagon Capital Partners LLC increased its holdings in M.D.C. by 102.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 816 shares of the construction company’s stock valued at $51,000 after purchasing an additional 412 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in M.D.C. in the first quarter valued at about $259,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

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.