Ameriprise Financial Inc. raised its position in M.D.C. Holdings Inc. (NYSE:MDC) by 81.4% during the second quarter, Holdings Channel reports. The fund owned 205,014 shares of the company’s stock after buying an additional 92,014 shares during the period. Ameriprise Financial Inc. owned approximately 0.42% of M.D.C. Holdings worth $4,990,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Quantitative Investment Management LLC acquired a new position in M.D.C. Holdings during the second quarter worth approximately $221,000. Societe Generale acquired a new position in M.D.C. Holdings during the second quarter worth approximately $236,000. Capstone Asset Management Co. acquired a new position in M.D.C. Holdings during the second quarter worth approximately $290,000. BNP Paribas Arbitrage SA raised its position in M.D.C. Holdings by 1,963.5% in the second quarter. BNP Paribas Arbitrage SA now owns 12,876 shares of the company’s stock worth $313,000 after buying an additional 12,252 shares during the last quarter. Finally, Dearborn Partners LLC raised its position in M.D.C. Holdings by 15.8% in the second quarter. Dearborn Partners LLC now owns 15,497 shares of the company’s stock worth $377,000 after buying an additional 2,115 shares during the last quarter. Institutional investors and hedge funds own 79.09% of the company’s stock.
M.D.C. Holdings Inc. (NYSE:MDC) traded up 0.63% during midday trading on Friday, reaching $24.11. The company’s stock had a trading volume of 317,614 shares. The firm has a 50 day moving average price of $25.37 and a 200-day moving average price of $24.89. M.D.C. Holdings Inc. has a 52 week low of $19.28 and a 52 week high of $28.93. The firm has a market cap of $1.18 billion, a P/E ratio of 16.07 and a beta of 1.64.
M.D.C. Holdings (NYSE:MDC) last issued its earnings results on Wednesday, August 3rd. The company reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.06. M.D.C. Holdings had a net margin of 3.62% and a return on equity of 6.09%. The business earned $571.20 million during the quarter, compared to the consensus estimate of $535.12 million. During the same period last year, the business posted $0.41 EPS. M.D.C. Holdings’s revenue was up 23.8% on a year-over-year basis. On average, analysts forecast that M.D.C. Holdings Inc. will post $2.11 earnings per share for the current fiscal year.
Several brokerages recently issued reports on MDC. Zacks Investment Research upgraded M.D.C. Holdings from a “sell” rating to a “hold” rating and set a $31.00 price target on the stock in a research note on Tuesday, July 19th. Wells Fargo & Co. began coverage on M.D.C. Holdings in a research note on Wednesday, September 28th. They set a “market perform” rating on the stock. Citigroup Inc. boosted their price target on M.D.C. Holdings from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Deutsche Bank AG lowered M.D.C. Holdings from a “buy” rating to a “hold” rating and lowered their price target for the company from $28.00 to $27.00 in a research note on Monday, August 8th. Finally, Argus restated a “hold” rating on shares of M.D.C. Holdings in a research note on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $27.25.
M.D.C. Holdings Company Profile
M.DC Holdings, Inc is engaged in two primary operations, such as homebuilding and financial services. The Company’s homebuilding operations consist of subsidiary companies that purchases finished lots or develop lots 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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