Comerica Bank Lowers Stake in M.D.C. Holdings, Inc. (NYSE:MDC)

Comerica Bank lowered its stake in shares of M.D.C. Holdings, Inc. (NYSE:MDCGet Rating) by 9.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,844 shares of the construction company’s stock after selling 4,879 shares during the period. Comerica Bank’s holdings in M.D.C. were worth $1,356,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in M.D.C. by 1.5% during the first quarter. Vanguard Group Inc. now owns 6,411,853 shares of the construction company’s stock worth $242,624,000 after buying an additional 91,822 shares during the period. State Street Corp lifted its holdings in shares of M.D.C. by 2.6% during the 1st quarter. State Street Corp now owns 2,516,458 shares of the construction company’s stock valued at $95,223,000 after purchasing an additional 63,519 shares during the last quarter. Hamlin Capital Management LLC lifted its holdings in shares of M.D.C. by 4.7% during the 3rd quarter. Hamlin Capital Management LLC now owns 1,633,427 shares of the construction company’s stock valued at $44,789,000 after purchasing an additional 73,474 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of M.D.C. by 10.2% during the 2nd quarter. Principal Financial Group Inc. now owns 1,460,831 shares of the construction company’s stock valued at $47,206,000 after purchasing an additional 134,685 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of M.D.C. by 47.2% during the 3rd quarter. Raymond James & Associates now owns 905,190 shares of the construction company’s stock valued at $24,820,000 after purchasing an additional 290,390 shares during the last quarter. Hedge funds and other institutional investors own 82.21% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on MDC shares. JPMorgan Chase & Co. lowered M.D.C. from a “neutral” rating to an “underweight” rating and increased their price objective for the company from $27.00 to $28.00 in a report on Tuesday, November 22nd. StockNews.com upgraded M.D.C. from a “sell” rating to a “hold” rating in a report on Friday, December 16th. Wedbush decreased their price objective on M.D.C. to $28.00 in a report on Friday, November 4th. Finally, Raymond James downgraded M.D.C. from a “strong-buy” rating to a “market perform” rating in a research report on Friday, October 21st. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat.com, M.D.C. currently has a consensus rating of “Hold” and a consensus price target of $27.67.

M.D.C. Price Performance

NYSE MDC opened at $36.18 on Monday. 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 stock’s fifty day moving average price is $32.71 and its 200 day moving average price is $32.23. M.D.C. Holdings, Inc. has a 1 year low of $27.04 and a 1 year high of $50.84. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 4.11 and a beta of 1.36.

M.D.C. (NYSE:MDCGet Rating) last released its earnings results on Thursday, October 27th. The construction company reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.26). The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.40 billion. M.D.C. had a net margin of 11.39% and a return on equity of 23.05%. As a group, equities research analysts forecast that M.D.C. Holdings, Inc. will post 8.14 earnings per share for the current year.

Insiders Place Their Bets

In other M.D.C. news, CEO David D. Mandarich sold 866,029 shares of the stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $32.47, for a total transaction of $28,119,961.63. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 24.20% of the stock is owned by insiders.

M.D.C. Company Profile

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M.DC Holdings, Inc provides homebuilding and financial services. Its homebuilding operations consist of wholly owned subsidiary companies that generally purchase finished lots or develop lots to the extent necessary for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the name Richmond American Homes.

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

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