Insider Selling: M.D.C. Holdings, Inc. (MDC) Chairman Sells $281,952.16 in Stock

M.D.C. Holdings, Inc. (NYSE:MDC) Chairman Larry A. Mizel sold 8,872 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $31.78, for a total transaction of $281,952.16. Following the completion of the transaction, the chairman now owns 134,830 shares in the company, valued at $4,284,897.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

MDC opened at $31.91 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.19 and a current ratio of 8.58. M.D.C. Holdings, Inc. has a 1-year low of $25.14 and a 1-year high of $33.47. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 8.69, a price-to-earnings-growth ratio of 1.39 and a beta of 1.33.

M.D.C. (NYSE:MDC) last released its quarterly earnings results on Tuesday, April 30th. The construction company reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.05. The business had revenue of $647.28 million for the quarter, compared to the consensus estimate of $597.26 million. M.D.C. had a net margin of 6.90% and a return on equity of 14.20%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the firm earned $0.63 earnings per share. On average, equities analysts anticipate that M.D.C. Holdings, Inc. will post 3.16 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Wednesday, May 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.76%. M.D.C.’s dividend payout ratio (DPR) is presently 30.25%.

Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of M.D.C. from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Wednesday, April 10th. Wedbush reiterated a “neutral” rating and issued a $30.00 price target on shares of M.D.C. in a research report on Wednesday, May 1st. Finally, ValuEngine downgraded shares of M.D.C. from a “hold” rating to a “sell” rating in a research report on Tuesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. M.D.C. has a consensus rating of “Hold” and an average price target of $32.40.

Several hedge funds and other institutional investors have recently made changes to their positions in MDC. Bank of New York Mellon Corp increased its stake in shares of M.D.C. by 2.5% in the third quarter. Bank of New York Mellon Corp now owns 1,165,818 shares of the construction company’s stock worth $34,486,000 after purchasing an additional 28,974 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of M.D.C. by 26.1% in the third quarter. JPMorgan Chase & Co. now owns 240,131 shares of the construction company’s stock worth $7,103,000 after purchasing an additional 49,732 shares in the last quarter. MetLife Investment Advisors LLC grew its stake in M.D.C. by 60.0% during the third quarter. MetLife Investment Advisors LLC now owns 30,808 shares of the construction company’s stock valued at $911,000 after acquiring an additional 11,547 shares in the last quarter. Teachers Advisors LLC grew its stake in M.D.C. by 2.6% during the third quarter. Teachers Advisors LLC now owns 88,182 shares of the construction company’s stock valued at $2,608,000 after acquiring an additional 2,208 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in M.D.C. by 8.3% during the third quarter. Legal & General Group Plc now owns 107,828 shares of the construction company’s stock valued at $3,188,000 after acquiring an additional 8,272 shares in the last quarter. 83.50% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: This story was first published by Baseball Daily News and is the sole property of of Baseball Daily News. If you are viewing this story on another site, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark laws. The original version of this story can be read at https://www.baseballdailydigest.com/news/2019/05/13/insider-selling-m-d-c-holdings-inc-mdc-chairman-sells-281952-16-in-stock.html.

About M.D.C.

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.

Recommended Story: What is Cost of Goods Sold (COGS)?

Insider Buying and Selling by Quarter for M.D.C. (NYSE:MDC)

Receive News & Ratings for M.D.C. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M.D.C. and related companies with MarketBeat.com's FREE daily email newsletter.