M.D.C. Holdings Inc. (MDC) Sees Unusually-High Trading Volume
M.D.C. Holdings Inc. (NYSE:MDC) saw unusually-high trading volume on Tuesday . Approximately 480,750 shares changed hands during mid-day trading, a decline of 10% from the previous session’s volume of 533,159 shares.The stock last traded at $26.65 and had previously closed at $26.23.
MDC has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of M.D.C. Holdings from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Wednesday, April 13th. Deutsche Bank AG lowered their target price on shares of M.D.C. Holdings from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, May 16th. Sterne Agee CRT reiterated a “neutral” rating on shares of M.D.C. Holdings in a research note on Monday, May 16th. Finally, Argus reiterated a “hold” rating on shares of M.D.C. Holdings in a research note on Tuesday, July 5th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $27.08.
The firm’s 50 day moving average is $23.99 and its 200-day moving average is $23.41. The company has a market cap of $1.29 billion and a PE ratio of 19.28.
M.D.C. Holdings (NYSE:MDC) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by $0.06. The firm had revenue of $396.70 million for the quarter, compared to analysts’ expectations of $431.11 million. During the same period in the previous year, the company earned $0.17 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities analysts expect that M.D.C. Holdings Inc. will post $2.04 earnings per share for the current year.
Other institutional investors have recently bought and sold shares of the company. Retirement Systems of Alabama raised its position in M.D.C. Holdings by 1.3% in the fourth quarter. Retirement Systems of Alabama now owns 50,253 shares of the company’s stock worth $1,283,000 after buying an additional 659 shares during the last quarter. California State Teachers Retirement System raised its position in M.D.C. Holdings by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 72,411 shares of the company’s stock worth $1,849,000 after buying an additional 1,257 shares during the last quarter. Engineers Gate Manager LP purchased a new position in M.D.C. Holdings during the fourth quarter worth $2,988,000. First Trust Advisors LP raised its position in M.D.C. Holdings by 111.8% in the fourth quarter. First Trust Advisors LP now owns 194,785 shares of the company’s stock worth $4,973,000 after buying an additional 102,827 shares during the last quarter. Finally, Pacifica Capital Investments LLC raised its position in M.D.C. Holdings by 1.9% in the fourth quarter. Pacifica Capital Investments LLC now owns 246,705 shares of the company’s stock worth $6,298,000 after buying an additional 4,705 shares during the last quarter.
M.DC Holdings, Inc is engaged in two primary operations, such as homebuilding and financial services. The Company’s homebuilding operations consist of subsidiary companies that purchases finished lots or develop lots for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the name Richmond American Homes.
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