AMP Capital Investors Ltd trimmed its position in shares of M.D.C. Holdings, Inc. (NYSE:MDC) by 34.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,494 shares of the construction company’s stock after selling 3,927 shares during the quarter. AMP Capital Investors Ltd’s holdings in M.D.C. were worth $249,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Amalgamated Bank purchased a new stake in shares of M.D.C. during the second quarter valued at about $202,000. Capital Fund Management S.A. purchased a new stake in shares of M.D.C. during the second quarter valued at about $223,000. Sawgrass Asset Management LLC purchased a new stake in shares of M.D.C. during the third quarter valued at about $262,000. Parametrica Management Ltd purchased a new stake in shares of M.D.C. during the third quarter valued at about $285,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of M.D.C. during the third quarter valued at about $306,000. 74.09% of the stock is owned by institutional investors and hedge funds.
In related news, Director Herbert T. Buchwald sold 28,350 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $31.52, for a total value of $893,592.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David Siegel sold 2,500 shares of the stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $31.83, for a total transaction of $79,575.00. The disclosure for this sale can be found here. Corporate insiders own 25.30% of the company’s stock.
M.D.C. (NYSE:MDC) last posted its quarterly earnings data on Thursday, November 2nd. The construction company reported $1.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.55. M.D.C. had a net margin of 6.09% and a return on equity of 11.66%. The firm had revenue of $586.30 million for the quarter, compared to the consensus estimate of $595.05 million. During the same quarter in the prior year, the company posted $0.54 earnings per share. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. sell-side analysts forecast that M.D.C. Holdings, Inc. will post 2.69 EPS for the current year.
Several analysts have commented on MDC shares. Zacks Investment Research lowered shares of M.D.C. from a “hold” rating to a “sell” rating in a research report on Wednesday, August 30th. Wells Fargo & Co upgraded shares of M.D.C. from an “underperform” rating to a “market perform” rating and set a $30.00 price objective on the stock in a report on Wednesday, August 30th. They noted that the move was a valuation call. KeyCorp restated a “hold” rating on shares of M.D.C. in a report on Tuesday, September 26th. UBS Group initiated coverage on shares of M.D.C. in a report on Wednesday, October 25th. They set a “sell” rating and a $34.00 price objective on the stock. Finally, ValuEngine downgraded shares of M.D.C. from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 2nd. Four analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target 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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