StockNews.com Initiates Coverage on M.D.C. (NYSE:MDC)

Equities research analysts at StockNews.com started coverage on shares of M.D.C. (NYSE:MDC) in a research note issued to investors on Saturday. The brokerage set a “hold” rating on the construction company’s stock.

MDC has been the topic of several other research reports. Evercore ISI cut M.D.C. from an “outperform” rating to an “in-line” rating and raised their price target for the company from $57.00 to $63.00 in a report on Wednesday, January 31st. Raymond James reiterated a “market perform” rating on shares of M.D.C. in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $52.13.

M.D.C. Stock Performance

Shares of NYSE MDC opened at $62.98 on Friday. The business has a fifty day simple moving average of $62.79 and a 200 day simple moving average of $54.63. The company has a current ratio of 9.76, a quick ratio of 3.92 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of 11.93 and a beta of 1.54. M.D.C. has a one year low of $36.47 and a one year high of $63.00.

M.D.C. (NYSE:MDC) last announced its earnings results on Tuesday, January 30th. The construction company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.50 by $0.06. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations 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 for the quarter was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.08 earnings per share. Sell-side analysts expect that M.D.C. will post 5.7 EPS for the current year.

Insider Activity at M.D.C.

In other M.D.C. news, Director David E. Blackford sold 6,200 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $62.69, for a total value of $388,678.00. Following the completion of the transaction, the director now directly owns 13,534 shares in the company, valued at $848,446.46. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 23.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MDC. Sound Income Strategies LLC acquired a new stake in M.D.C. during the 4th quarter worth approximately $25,000. McGlone Suttner Wealth Management Inc. acquired a new position in M.D.C. in the 4th quarter valued at $25,000. Clear Street Markets LLC acquired a new position in M.D.C. in the 3rd quarter valued at $29,000. GAMMA Investing LLC acquired a new position in M.D.C. in the 4th quarter valued at $34,000. Finally, Kingswood Wealth Advisors LLC acquired a new position in M.D.C. in the 4th quarter valued at $40,000. 88.08% of the stock is currently owned by institutional investors.

M.D.C. Company Profile

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.