M.D.C. Holdings, Inc. (NYSE:MDC) Stock Holdings Increased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of M.D.C. Holdings, Inc. (NYSE:MDC) by 8.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,489 shares of the construction company’s stock after acquiring an additional 2,638 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in M.D.C. were worth $1,906,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MDC. Moneta Group Investment Advisors LLC bought a new stake in M.D.C. during the 4th quarter valued at $263,371,000. Pacer Advisors Inc. raised its stake in M.D.C. by 60.6% during the 4th quarter. Pacer Advisors Inc. now owns 2,492,733 shares of the construction company’s stock valued at $137,723,000 after acquiring an additional 940,810 shares in the last quarter. Millennium Management LLC raised its stake in shares of M.D.C. by 259.7% in the 4th quarter. Millennium Management LLC now owns 593,177 shares of the construction company’s stock worth $18,744,000 after buying an additional 428,286 shares in the last quarter. Norges Bank bought a new stake in shares of M.D.C. in the 4th quarter worth $13,291,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of M.D.C. by 96.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 646,753 shares of the construction company’s stock worth $30,249,000 after buying an additional 318,101 shares in the last quarter. Institutional investors own 88.08% of the company’s stock.

Insider Buying and Selling

In related news, Director David E. Blackford sold 6,200 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $62.69, for a total transaction of $388,678.00. Following the completion of the transaction, the director now owns 13,534 shares of the company’s stock, valued at approximately $848,446.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 23.30% of the stock is owned by insiders.

M.D.C. Price Performance

Shares of NYSE:MDC opened at $62.98 on Friday. M.D.C. Holdings, Inc. has a fifty-two week low of $36.47 and a fifty-two week high of $63.00. The business has a 50-day moving average of $62.72 and a two-hundred day moving average of $53.82. The stock has a market capitalization of $4.73 billion, a P/E ratio of 11.93 and a beta of 1.54. The company has a debt-to-equity ratio of 0.50, a current ratio of 9.76 and a quick ratio of 3.92.

M.D.C. (NYSE:MDC) last announced its quarterly earnings results on Tuesday, January 30th. The construction company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.06. M.D.C. had a return on equity of 12.32% and a net margin of 8.64%. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the firm earned $1.08 earnings per share. The business’s quarterly revenue was down 11.9% compared to the same quarter last year. On average, equities research analysts predict that M.D.C. Holdings, Inc. will post 5.7 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MDC shares. Evercore ISI lowered M.D.C. from an “outperform” rating to an “in-line” rating and boosted their target price for the stock from $57.00 to $63.00 in a research report on Wednesday, January 31st. Raymond James reiterated a “market perform” rating on shares of M.D.C. in a report on Wednesday, February 7th. Finally, StockNews.com began coverage on M.D.C. in a research note on Friday. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $52.13.

M.D.C. 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.