M.D.C. Holdings, Inc. (NYSE:MDC) Shares Sold by Mackay Shields LLC

Mackay Shields LLC lessened its stake in M.D.C. Holdings, Inc. (NYSE:MDC) by 18.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 107,100 shares of the construction company’s stock after selling 23,500 shares during the quarter. Mackay Shields LLC owned 0.17% of M.D.C. worth $4,616,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MDC. Captrust Financial Advisors lifted its holdings in shares of M.D.C. by 86.0% in the 2nd quarter. Captrust Financial Advisors now owns 1,306 shares of the construction company’s stock valued at $43,000 after buying an additional 604 shares during the period. Flagship Harbor Advisors LLC increased its stake in shares of M.D.C. by 141.2% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,802 shares of the construction company’s stock valued at $77,000 after purchasing an additional 1,055 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new position in shares of M.D.C. in the 2nd quarter valued at about $90,000. FNY Investment Advisers LLC purchased a new position in shares of M.D.C. in the 3rd quarter valued at about $129,000. Finally, Commonwealth Equity Services LLC purchased a new position in shares of M.D.C. in the 3rd quarter valued at about $200,000. 74.50% of the stock is owned by institutional investors and hedge funds.

In other M.D.C. news, Director Raymond T. Baker sold 41,250 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $42.69, for a total transaction of $1,760,962.50. Following the completion of the sale, the director now directly owns 45,462 shares in the company, valued at approximately $1,940,772.78. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Jean-Frederic Viret sold 3,159 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $20.44, for a total value of $64,569.96. Over the last quarter, insiders have sold 98,832 shares of company stock valued at $4,248,023. 26.30% of the stock is owned by company insiders.

Shares of M.D.C. stock traded up $0.72 on Friday, hitting $37.55. The company’s stock had a trading volume of 518,722 shares, compared to its average volume of 464,291. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.83 and a current ratio of 9.08. M.D.C. Holdings, Inc. has a 1 year low of $25.77 and a 1 year high of $46.84. The firm has a fifty day moving average price of $42.86 and a 200-day moving average price of $36.86. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 10.23, a price-to-earnings-growth ratio of 1.04 and a beta of 1.04.

M.D.C. (NYSE:MDC) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $0.79 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.08). M.D.C. had a return on equity of 12.73% and a net margin of 6.58%. The firm had revenue of $750.27 million for the quarter, compared to analysts’ expectations of $767.23 million. During the same quarter last year, the firm posted $0.86 earnings per share. M.D.C.’s quarterly revenue was down 2.1% on a year-over-year basis. As a group, analysts forecast that M.D.C. Holdings, Inc. will post 3.54 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 12th. This represents a $1.20 annualized dividend and a yield of 3.20%. M.D.C.’s dividend payout ratio (DPR) is currently 32.70%.

Several equities analysts recently weighed in on MDC shares. Cfra upgraded M.D.C. from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. ValuEngine lowered M.D.C. from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Raymond James upgraded M.D.C. from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $42.00 to $49.00 in a research note on Friday, September 13th. Zelman & Associates lowered M.D.C. from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Wedbush lifted their price target on M.D.C. from $35.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $44.00.

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.

See Also: Leveraged Buyout (LBO)

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

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