Summit Global Investments Sells 16,821 Shares of M.D.C. Holdings, Inc. (NYSE:MDC)

Summit Global Investments lowered its position in M.D.C. Holdings, Inc. (NYSE:MDC) by 55.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,510 shares of the construction company’s stock after selling 16,821 shares during the quarter. Summit Global Investments’ holdings in M.D.C. were worth $746,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MDC. Pacer Advisors Inc. grew its position in M.D.C. by 60.6% during the fourth 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. American Century Companies Inc. increased its position in shares of M.D.C. by 30.9% in the third quarter. American Century Companies Inc. now owns 925,602 shares of the construction company’s stock worth $38,163,000 after purchasing an additional 218,647 shares during the last quarter. Raymond James & Associates raised its stake in M.D.C. by 23.0% in the fourth quarter. Raymond James & Associates now owns 898,855 shares of the construction company’s stock valued at $49,662,000 after purchasing an additional 168,214 shares in the last quarter. Barclays PLC lifted its position in M.D.C. by 179.8% during the third quarter. Barclays PLC now owns 261,763 shares of the construction company’s stock valued at $10,791,000 after purchasing an additional 168,206 shares during the last quarter. Finally, Schroder Investment Management Group grew its stake in M.D.C. by 56.1% in the 3rd quarter. Schroder Investment Management Group now owns 305,599 shares of the construction company’s stock worth $12,600,000 after buying an additional 109,859 shares in the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MDC. Evercore ISI downgraded shares of M.D.C. from an “outperform” rating to an “in-line” rating and lifted their price objective for the stock from $57.00 to $63.00 in a report on Wednesday, January 31st. StockNews.com began coverage on M.D.C. in a report on Sunday. They set a “hold” rating on the stock. Finally, Raymond James reaffirmed a “market perform” rating on shares of M.D.C. in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $52.13.

Insider Activity at M.D.C.

In other M.D.C. news, Director David E. Blackford sold 6,200 shares of M.D.C. 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 directly 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 through the SEC website. 23.30% of the stock is currently owned by company insiders.

M.D.C. Price Performance

Shares of NYSE:MDC opened at $62.98 on Friday. The stock has a market capitalization of $4.73 billion, a P/E ratio of 11.93 and a beta of 1.54. The stock’s 50-day moving average price is $62.85 and its 200-day moving average price is $55.56. 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 12-month low of $36.47 and a 12-month high of $63.00.

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.