Convergence Investment Partners LLC Has $1.01 Million Stake in M.D.C. Holdings, Inc. (NYSE:MDC)

Convergence Investment Partners LLC lowered its stake in shares of M.D.C. Holdings, Inc. (NYSE:MDC) by 16.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 18,200 shares of the construction company’s stock after selling 3,696 shares during the period. Convergence Investment Partners LLC’s holdings in M.D.C. were worth $1,006,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in M.D.C. by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 6,984,701 shares of the construction company’s stock valued at $287,979,000 after purchasing an additional 109,539 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of M.D.C. by 60.6% during the 4th quarter. Pacer Advisors Inc. now owns 2,492,733 shares of the construction company’s stock worth $137,723,000 after buying an additional 940,810 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of M.D.C. by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,492,627 shares of the construction company’s stock worth $61,541,000 after buying an additional 53,421 shares in the last quarter. American Century Companies Inc. lifted its position in shares of M.D.C. by 30.9% during the 3rd quarter. American Century Companies Inc. now owns 925,602 shares of the construction company’s stock worth $38,163,000 after buying an additional 218,647 shares in the last quarter. Finally, Raymond James & Associates lifted its position in shares of M.D.C. by 23.0% during the 4th quarter. Raymond James & Associates now owns 898,855 shares of the construction company’s stock worth $49,662,000 after buying an additional 168,214 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on MDC. Raymond James reissued a “market perform” rating on shares of M.D.C. in a research report on Wednesday, February 7th. StockNews.com started coverage on shares of M.D.C. in a report on Saturday. They issued a “hold” rating on the stock. Finally, Evercore ISI cut shares of M.D.C. from an “outperform” rating to an “in-line” rating and lifted their price target for the stock from $57.00 to $63.00 in a report on Wednesday, January 31st. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, M.D.C. has an average rating of “Hold” and an average price target of $52.13.

Insider Buying and Selling at M.D.C.

In other M.D.C. news, Director David E. Blackford sold 6,200 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $62.69, for a total transaction of $388,678.00. Following the sale, the director now owns 13,534 shares of the company’s stock, valued at approximately $848,446.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 23.30% of the company’s stock.

M.D.C. Price Performance

Shares of NYSE:MDC remained flat at $62.98 during mid-day trading on Friday. The stock has a 50 day moving average of $62.79 and a 200 day moving average of $54.73. 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. Holdings, Inc. has a one year low of $36.47 and a one year high of $63.00. The stock has a market cap of $4.73 billion, a price-to-earnings ratio of 11.93 and a beta of 1.54.

M.D.C. (NYSE:MDC) last issued its earnings results on Tuesday, January 30th. The construction company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.06. M.D.C. had a net margin of 8.64% and a return on equity of 12.32%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the firm posted $1.08 EPS. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, sell-side analysts expect that M.D.C. Holdings, Inc. will post 5.7 earnings per share for the current year.

M.D.C. 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.