M.D.C. Holdings, Inc. (NYSE:MDC) Receives Average Recommendation of “Reduce” from Brokerages

Shares of M.D.C. Holdings, Inc. (NYSE:MDC) have been given an average rating of “Reduce” by the five research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $52.13.

MDC has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on shares of M.D.C. in a research note on Sunday. They issued a “hold” rating for the company. Raymond James restated a “market perform” rating on shares of M.D.C. in a research note on Wednesday, February 7th. Finally, Evercore ISI cut 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.

M.D.C. Price Performance

Shares of MDC stock opened at $62.98 on Friday. The stock’s fifty day moving average price is $62.87 and its 200 day moving average price is $56.10. The company has a debt-to-equity ratio of 0.50, a current ratio of 9.76 and a quick ratio of 3.92. M.D.C. has a 1-year low of $36.47 and a 1-year high of $63.00. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 11.93 and a beta of 1.54.

Insider Transactions at M.D.C.

In related news, Director David E. Blackford sold 6,200 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $62.69, for a total value of $388,678.00. Following the completion of the sale, the director now owns 13,534 shares of the company’s stock, valued at approximately $848,446.46. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 23.30% of the company’s stock.

Institutional Investors Weigh In On M.D.C.

Several large investors have recently bought and sold shares of MDC. Raymond James Financial Services Advisors Inc. lifted its holdings in M.D.C. by 3.8% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 110,424 shares of the construction company’s stock valued at $4,553,000 after purchasing an additional 4,004 shares in the last quarter. Total Clarity Wealth Management Inc. acquired a new position in shares of M.D.C. during the 3rd quarter worth approximately $300,000. Groesbeck Investment Management Corp NJ raised its holdings in shares of M.D.C. by 4.4% during the 3rd quarter. Groesbeck Investment Management Corp NJ now owns 24,528 shares of the construction company’s stock worth $1,011,000 after acquiring an additional 1,035 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of M.D.C. by 17.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,491 shares of the construction company’s stock valued at $391,000 after acquiring an additional 1,421 shares during the last quarter. Finally, Mackenzie Financial Corp increased its position in M.D.C. by 6.9% during the third quarter. Mackenzie Financial Corp now owns 12,048 shares of the construction company’s stock worth $472,000 after purchasing an additional 781 shares during the last quarter. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

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.