7,133 Shares in M.D.C. Holdings, Inc. (MDC) Acquired by 6 Meridian

6 Meridian bought a new stake in M.D.C. Holdings, Inc. (NYSE:MDC) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,133 shares of the construction company’s stock, valued at approximately $207,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MDC. Comerica Bank increased its position in shares of M.D.C. by 0.7% during the 4th quarter. Comerica Bank now owns 49,645 shares of the construction company’s stock valued at $1,522,000 after purchasing an additional 338 shares during the period. CIBC Private Wealth Group LLC increased its position in shares of M.D.C. by 1.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 36,901 shares of the construction company’s stock valued at $1,037,000 after purchasing an additional 350 shares during the period. Piedmont Investment Advisors Inc. increased its position in shares of M.D.C. by 3.6% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 10,780 shares of the construction company’s stock valued at $303,000 after purchasing an additional 378 shares during the period. Legal & General Group Plc increased its position in shares of M.D.C. by 0.4% during the 4th quarter. Legal & General Group Plc now owns 108,282 shares of the construction company’s stock valued at $3,047,000 after purchasing an additional 454 shares during the period. Finally, Bank of Montreal Can increased its position in shares of M.D.C. by 14.1% during the 4th quarter. Bank of Montreal Can now owns 4,908 shares of the construction company’s stock valued at $138,000 after purchasing an additional 605 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Shares of NYSE MDC opened at $31.04 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.49 and a current ratio of 9.15. The firm has a market capitalization of $1.90 billion, a P/E ratio of 8.46, a P/E/G ratio of 1.17 and a beta of 1.33. M.D.C. Holdings, Inc. has a 52-week low of $25.14 and a 52-week high of $33.47.

M.D.C. (NYSE:MDC) last issued its earnings results on Thursday, January 31st. The construction company reported $0.95 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.14 by ($0.19). The company had revenue of $858.49 million during the quarter, compared to analyst estimates of $839.29 million. M.D.C. had a return on equity of 14.50% and a net margin of 6.93%. As a group, research analysts expect that M.D.C. Holdings, Inc. will post 3.25 EPS for the current fiscal year.

Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded M.D.C. from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Wednesday, April 10th. ValuEngine cut M.D.C. from a “hold” rating to a “sell” rating in a research report on Tuesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. M.D.C. presently has a consensus rating of “Hold” and a consensus price target of $34.00.

In related news, SVP Michael Touff sold 36,741 shares of M.D.C. stock in a transaction on Monday, March 11th. The stock was sold at an average price of $28.84, for a total value of $1,059,610.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David Siegel sold 2,900 shares of M.D.C. stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $28.18, for a total value of $81,722.00. The disclosure for this sale can be found here. Insiders sold a total of 194,089 shares of company stock worth $5,611,678 over the last 90 days. Insiders own 26.30% of the company’s stock.

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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.

Further Reading: Do You Need a Fiduciary?

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Institutional Ownership by Quarter for M.D.C. (NYSE:MDC)

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