StockNews.com Downgrades M.D.C. (NYSE:MDC) to Sell

StockNews.com downgraded shares of M.D.C. (NYSE:MDCGet Rating) from a hold rating to a sell rating in a research note published on Tuesday morning.

Several other equities analysts have also weighed in on the company. JPMorgan Chase & Co. lowered M.D.C. from a neutral rating to an underweight rating and lifted their price objective for the company from $27.00 to $28.00 in a research note on Tuesday. Wedbush reduced their price target on M.D.C. to $28.00 in a research report on Friday, November 4th. Finally, Raymond James lowered M.D.C. from a strong-buy rating to a market perform rating in a research report on Friday, October 21st. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of Reduce and an average price target of $27.67.

M.D.C. Stock Performance

NYSE MDC opened at $31.61 on Tuesday. The firm has a market capitalization of $2.25 billion, a P/E ratio of 3.59 and a beta of 1.37. M.D.C. has a 1-year low of $27.04 and a 1-year high of $56.53. The company has a debt-to-equity ratio of 0.56, a current ratio of 8.08 and a quick ratio of 1.80. The business’s 50-day simple moving average is $29.73 and its 200-day simple moving average is $32.77.

M.D.C. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 23rd. Investors of record on Wednesday, November 9th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 6.33%. The ex-dividend date is Tuesday, November 8th. M.D.C.’s dividend payout ratio (DPR) is presently 22.73%.

Insider Buying and Selling

In other M.D.C. news, CEO David D. Mandarich sold 866,029 shares of the company’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $32.47, for a total value of $28,119,961.63. Following the transaction, the chief executive officer now directly owns 5,263,634 shares of the company’s stock, valued at approximately $170,910,195.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 24.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On M.D.C.

A number of institutional investors have recently made changes to their positions in the business. Quadrant Capital Group LLC raised its position in shares of M.D.C. by 65.2% in the 1st quarter. Quadrant Capital Group LLC now owns 884 shares of the construction company’s stock valued at $33,000 after purchasing an additional 349 shares in the last quarter. Amundi raised its position in shares of M.D.C. by 36.9% in the 2nd quarter. Amundi now owns 1,320 shares of the construction company’s stock valued at $43,000 after purchasing an additional 356 shares in the last quarter. Money Concepts Capital Corp raised its position in shares of M.D.C. by 7.0% in the 2nd quarter. Money Concepts Capital Corp now owns 5,543 shares of the construction company’s stock valued at $188,000 after purchasing an additional 365 shares in the last quarter. CWM LLC raised its position in shares of M.D.C. by 70.3% in the 3rd quarter. CWM LLC now owns 901 shares of the construction company’s stock valued at $25,000 after purchasing an additional 372 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of M.D.C. by 94.0% in the 2nd quarter. Fifth Third Bancorp now owns 838 shares of the construction company’s stock valued at $27,000 after acquiring an additional 406 shares during the last quarter. 73.19% of the stock is owned by institutional investors and hedge funds.

M.D.C. Company Profile

(Get Rating)

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

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