StockNews.com Initiates Coverage on M.D.C. (NYSE:MDC)

Analysts at StockNews.com began coverage on shares of M.D.C. (NYSE:MDC) in a research note issued on Sunday. The firm set a “hold” rating on the construction company’s stock.

Several other equities research analysts have also recently weighed in on the company. Evercore ISI cut M.D.C. from an “outperform” rating to an “in-line” rating and increased their price target for the company from $57.00 to $63.00 in a research note on Wednesday, January 31st. Raymond James reissued a “market perform” rating on shares of M.D.C. in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, M.D.C. presently has a consensus rating of “Hold” and a consensus target price of $52.13.

M.D.C. Stock Performance

Shares of M.D.C. stock opened at $62.98 on Friday. The stock has a market cap of $4.73 billion, a price-to-earnings ratio of 11.93 and a beta of 1.54. The company has a quick ratio of 3.92, a current ratio of 9.76 and a debt-to-equity ratio of 0.50. M.D.C. has a twelve month low of $36.47 and a twelve month high of $63.00. The company’s fifty day moving average is $62.85 and its 200 day moving average is $55.56.

Insider Activity at M.D.C.

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

Institutional Trading of M.D.C.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Larson Financial Group LLC bought a new position in shares of M.D.C. in the first quarter valued at $246,000. FORA Capital LLC bought a new position in M.D.C. in the 1st quarter valued at about $1,162,000. BNP Paribas Financial Markets boosted its stake in M.D.C. by 54.8% during the 1st quarter. BNP Paribas Financial Markets now owns 50,158 shares of the construction company’s stock valued at $3,155,000 after purchasing an additional 17,762 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in M.D.C. by 35.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 46,755 shares of the construction company’s stock valued at $2,941,000 after purchasing an additional 12,266 shares during the last quarter. Finally, Nilsine Partners LLC increased its holdings in M.D.C. by 19.6% during the 1st quarter. Nilsine Partners LLC now owns 6,401 shares of the construction company’s stock worth $403,000 after purchasing an additional 1,048 shares in the last quarter. Institutional investors own 88.08% of the company’s stock.

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.