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

Research analysts at StockNews.com initiated coverage on shares of M.D.C. (NYSE:MDC) in a research report issued to clients and investors on Sunday. The firm set a “hold” rating on the construction company’s stock.

A number of other brokerages have also weighed in on MDC. Raymond James reissued a “market perform” rating on shares of M.D.C. in a report on Wednesday, February 7th. Evercore ISI lowered shares of 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. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $52.13.

M.D.C. Stock Performance

Shares of M.D.C. stock opened at $62.98 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 9.76 and a quick ratio of 3.92. The firm has a market cap of $4.73 billion, a P/E ratio of 11.93 and a beta of 1.54. The firm has a 50 day simple moving average of $62.86 and a 200 day simple moving average of $55.87. M.D.C. has a fifty-two week low of $36.47 and a fifty-two week high of $63.00.

Insider Buying and Selling 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 shares were sold at an average price of $62.69, for a total value of $388,678.00. Following the transaction, the director now directly owns 13,534 shares of the company’s stock, valued at $848,446.46. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 23.30% of the company’s stock.

Hedge Funds Weigh In On M.D.C.

A number of hedge funds and other institutional investors have recently bought and sold shares of MDC. Raymond James Financial Services Advisors Inc. boosted its position in shares of M.D.C. by 3.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 110,424 shares of the construction company’s stock worth $4,553,000 after purchasing an additional 4,004 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of M.D.C. by 17.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,491 shares of the construction company’s stock worth $391,000 after purchasing an additional 1,421 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of 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 in the last quarter. Yorktown Management & Research Co Inc bought a new position in shares of M.D.C. during the third quarter worth $272,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of M.D.C. by 6.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,851 shares of the construction company’s stock worth $1,313,000 after purchasing an additional 1,853 shares in the last quarter. 88.08% of the stock is 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.