M.D.C. Holdings, Inc. (NYSE:MDC) Position Boosted by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ increased its position in M.D.C. Holdings, Inc. (NYSE:MDC) by 8.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,678 shares of the construction company’s stock after purchasing an additional 2,150 shares during the period. M.D.C. accounts for about 2.0% of Groesbeck Investment Management Corp NJ’s investment portfolio, making the stock its 12th biggest holding. Groesbeck Investment Management Corp NJ’s holdings in M.D.C. were worth $1,474,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sound Income Strategies LLC acquired a new stake in shares of M.D.C. during the fourth quarter worth $25,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of M.D.C. in the 4th quarter worth about $25,000. Ronald Blue Trust Inc. lifted its position in shares of M.D.C. by 100.0% in the 3rd quarter. Ronald Blue Trust Inc. now owns 640 shares of the construction company’s stock worth $26,000 after buying an additional 320 shares during the last quarter. Clear Street Markets LLC bought a new position in shares of M.D.C. in the 3rd quarter worth about $29,000. Finally, Kingswood Wealth Advisors LLC bought a new position in shares of M.D.C. in the 4th quarter worth about $40,000. 88.08% of the stock is owned by institutional investors.

M.D.C. Stock Performance

NYSE:MDC traded up $0.04 during mid-day trading on Thursday, hitting $62.99. The stock had a trading volume of 1,628,335 shares, compared to its average volume of 1,909,314. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 11.93 and a beta of 1.54. The company has a 50 day simple moving average of $62.70 and a 200-day simple moving average of $53.60. M.D.C. Holdings, Inc. has a 52 week low of $36.47 and a 52 week high of $63.00. The company has a current ratio of 9.76, a quick ratio of 3.92 and a debt-to-equity ratio of 0.50.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MDC shares. StockNews.com started coverage on shares of M.D.C. in a research report on Thursday, April 11th. They issued a “hold” rating on the stock. Raymond James restated a “market perform” rating on shares of M.D.C. in a research report on Wednesday, February 7th. Finally, Evercore ISI downgraded shares of M.D.C. from an “outperform” rating to an “in-line” rating and lifted their price objective for the company from $57.00 to $63.00 in a research report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $52.13.

Insider Transactions at M.D.C.

In other news, Director David E. Blackford sold 6,200 shares of M.D.C. stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $62.69, for a total value of $388,678.00. Following the transaction, the director now directly owns 13,534 shares of the company’s stock, valued at $848,446.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 23.30% of the stock is currently owned by insiders.

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.