PineBridge Investments L.P. purchased a new stake in M.D.C. Holdings Inc. (NYSE:MDC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,972 shares of the company’s stock, valued at approximately $121,000.
Several other hedge funds have also recently added to or reduced their stakes in MDC. Teacher Retirement System of Texas boosted its stake in shares of M.D.C. Holdings by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 5,446 shares of the company’s stock valued at $133,000 after buying an additional 663 shares during the last quarter. Quantitative Investment Management LLC bought a new stake in shares of M.D.C. Holdings during the second quarter valued at approximately $221,000. Societe Generale bought a new stake in shares of M.D.C. Holdings during the second quarter valued at approximately $236,000. Capstone Asset Management Co. bought a new stake in shares of M.D.C. Holdings during the second quarter valued at approximately $290,000. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of 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 valued at $313,000 after buying an additional 12,252 shares during the last quarter. Institutional investors own 79.09% of the company’s stock.
M.D.C. Holdings Inc. (NYSE:MDC) opened at 25.04 on Wednesday. The stock’s 50 day moving average price is $25.62 and its 200-day moving average price is $24.88. M.D.C. Holdings Inc. has a 12 month low of $19.28 and a 12 month high of $28.93. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 16.69 and a beta of 1.64.
M.D.C. Holdings (NYSE:MDC) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.06. The firm had revenue of $571.20 million for the quarter, compared to analyst estimates of $535.12 million. M.D.C. Holdings had a return on equity of 6.09% and a net margin of 3.62%. The business’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same period last year, the company earned $0.41 EPS. Equities analysts anticipate that M.D.C. Holdings Inc. will post $2.11 EPS for the current fiscal year.
Several analysts recently commented on MDC shares. Wells Fargo & Co. started coverage on M.D.C. Holdings in a report on Wednesday, September 28th. They issued a “market perform” rating on the stock. Citigroup Inc. upped their target price on M.D.C. Holdings from $27.00 to $29.00 and gave the company a “buy” rating in a report on Friday, August 5th. Deutsche Bank AG cut M.D.C. Holdings from a “buy” rating to a “hold” rating and reduced their target price for the company from $28.00 to $27.00 in a report on Monday, August 8th. Zacks Investment Research upgraded M.D.C. Holdings from a “sell” rating to a “hold” rating and set a $31.00 target price on the stock in a report on Tuesday, July 19th. Finally, Argus reiterated a “hold” rating on shares of M.D.C. Holdings in a report on Tuesday, July 5th. One 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 has a consensus rating of “Hold” and an average 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.
Want to see what other hedge funds are holding MDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for M.D.C. Holdings Inc. (NYSE:MDC).
Receive News & Ratings for M.D.C. Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M.D.C. Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.