Acorn Advisory Capital L.P. Invests $1.38 Million in M.D.C. Holdings, Inc. (NYSE:MDC)

Acorn Advisory Capital L.P. acquired a new stake in M.D.C. Holdings, Inc. (NYSE:MDC) during the third quarter, according to its most recent filing with the SEC. The firm acquired 31,900 shares of the construction company’s stock, valued at approximately $1,375,000. M.D.C. comprises about 1.7% of Acorn Advisory Capital L.P.’s holdings, making the stock its 14th largest position. Acorn Advisory Capital L.P. owned approximately 0.05% of M.D.C. as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MDC. Captrust Financial Advisors raised its stake in M.D.C. by 86.0% in the 2nd quarter. Captrust Financial Advisors now owns 1,306 shares of the construction company’s stock valued at $43,000 after purchasing an additional 604 shares during the last quarter. Flagship Harbor Advisors LLC raised its stake in M.D.C. by 141.2% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,802 shares of the construction company’s stock valued at $77,000 after purchasing an additional 1,055 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in M.D.C. in the 3rd quarter valued at about $79,000. C M Bidwell & Associates Ltd. acquired a new position in M.D.C. in the 2nd quarter valued at about $90,000. Finally, FNY Investment Advisers LLC acquired a new position in M.D.C. in the 3rd quarter valued at about $129,000. Institutional investors own 76.21% of the company’s stock.

Shares of MDC stock traded up $0.57 on Wednesday, hitting $39.71. 378,100 shares of the stock traded hands, compared to its average volume of 465,938. The company has a debt-to-equity ratio of 0.66, a current ratio of 9.08 and a quick ratio of 1.83. The company has a market capitalization of $2.43 billion, a PE ratio of 10.82, a PEG ratio of 1.09 and a beta of 1.03. M.D.C. Holdings, Inc. has a 1-year low of $25.77 and a 1-year high of $46.84. The company’s fifty day moving average is $40.82 and its 200 day moving average is $37.80.

M.D.C. (NYSE:MDC) last issued its earnings results on Wednesday, October 30th. The construction company reported $0.79 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.08). M.D.C. had a return on equity of 12.73% and a net margin of 6.58%. The company had revenue of $750.27 million during the quarter, compared to analyst estimates of $767.23 million. During the same period in the prior year, the business earned $0.86 earnings per share. M.D.C.’s quarterly revenue was down 2.1% on a year-over-year basis. As a group, equities research analysts expect that M.D.C. Holdings, Inc. will post 3.54 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Tuesday, November 12th. M.D.C.’s dividend payout ratio (DPR) is 32.70%.

In related news, CFO Jean-Frederic Viret sold 3,159 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $20.44, for a total value of $64,569.96. Also, Director Michael A. Berman sold 10,000 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $70.52, for a total value of $705,200.00. Following the completion of the transaction, the director now owns 148,218 shares of the company’s stock, valued at approximately $10,452,333.36. The disclosure for this sale can be found here. Insiders have sold 75,309 shares of company stock worth $3,381,670 over the last three months. Corporate insiders own 26.30% of the company’s stock.

A number of research analysts have recently commented on MDC shares. Raymond James raised shares of M.D.C. from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $42.00 to $49.00 in a research report on Friday, September 13th. Cfra upgraded M.D.C. from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Wedbush upped their price target on M.D.C. from $35.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, September 13th. Zelman & Associates cut M.D.C. from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, ValuEngine cut M.D.C. from a “hold” rating to a “sell” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $44.00.

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.

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Institutional Ownership by Quarter for M.D.C. (NYSE:MDC)

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