M.D.C. Holdings, Inc. (NYSE:MDC) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 2,142,613 shares, an increase of 38.9% from the October 13th total of 1,542,704 shares. Currently, 5.2% of the shares of the company are sold short. Based on an average daily trading volume, of 452,800 shares, the short-interest ratio is currently 4.7 days.
Shares of M.D.C. (MDC) traded up $0.40 during trading on Thursday, reaching $31.74. The company had a trading volume of 487,674 shares, compared to its average volume of 517,683. M.D.C. has a 12 month low of $25.55 and a 12 month high of $37.45. The stock has a market cap of $1,781.13, a PE ratio of 11.39, a price-to-earnings-growth ratio of 1.05 and a beta of 1.35. The company has a quick ratio of 2.60, a current ratio of 9.45 and a debt-to-equity ratio of 0.65.
M.D.C. (NYSE:MDC) last announced its earnings results on Thursday, November 2nd. The construction company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.55. M.D.C. had a return on equity of 11.66% and a net margin of 6.09%. The company had revenue of $586.30 million during the quarter, compared to analysts’ expectations of $595.05 million. During the same period last year, the business posted $0.54 EPS. M.D.C.’s revenue for the quarter was up 1.4% on a year-over-year basis. equities research analysts anticipate that M.D.C. will post 2.53 EPS for the current year.
Hedge funds have recently bought and sold shares of the business. Amalgamated Bank acquired a new stake in M.D.C. in the 2nd quarter valued at about $202,000. Parsec Financial Management Inc. acquired a new stake in M.D.C. in the 2nd quarter valued at about $208,000. Capital Fund Management S.A. acquired a new stake in M.D.C. in the 2nd quarter valued at about $223,000. Sawgrass Asset Management LLC acquired a new stake in M.D.C. in the 3rd quarter valued at about $262,000. Finally, State of Alaska Department of Revenue raised its position in M.D.C. by 78.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 8,138 shares of the construction company’s stock valued at $287,000 after purchasing an additional 3,576 shares in the last quarter. 80.09% of the stock is currently owned by institutional investors.
MDC has been the topic of several recent research reports. ValuEngine downgraded M.D.C. from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 2nd. Citigroup reduced their price objective on M.D.C. from $37.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, November 3rd. Wells Fargo & Company raised M.D.C. from an “underperform” rating to a “market perform” rating and set a $30.00 price objective for the company in a research note on Wednesday, August 30th. They noted that the move was a valuation call. KeyCorp reissued a “hold” rating on shares of M.D.C. in a research note on Tuesday, September 26th. Finally, Zacks Investment Research raised M.D.C. from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. Four analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $30.33.
M.D.C. Company Profile
M.DC Holdings, Inc is engaged in two primary operations, including homebuilding and financial services. The Company’s segments include West, including segments located in Arizona, California, Nevada and Washington; Mountain, including segments located in Colorado and Utah; East, including segments located in Virginia, Florida and Maryland, which includes Pennsylvania and New Jersey; mortgage operations, including HomeAmerican Mortgage Corporation, and Other, which includes Allegiant Insurance Company, Inc, StarAmerican Insurance Ltd., American Home Insurance Agency, Inc and American Home Title and Escrow Company.
Receive News & Ratings for M.D.C. Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M.D.C. Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.