Short Interest in M.D.C. Holdings, Inc. (NYSE:MDC) Grows By 38.9%

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.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Wednesday, November 8th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Tuesday, November 7th. M.D.C.’s dividend payout ratio (DPR) is 33.37%.

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.

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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.

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