Investors Purchase Large Volume of M.D.C. Call Options (NYSE:MDC)

M.D.C. Holdings, Inc. (NYSE:MDC) was the target of unusually large options trading activity on Tuesday. Traders acquired 658 call options on the stock. This is an increase of approximately 1,142% compared to the typical daily volume of 53 call options.

Several brokerages have recently weighed in on MDC. JPMorgan Chase & Co. raised shares of M.D.C. from an “underweight” rating to a “neutral” rating in a research note on Monday, July 8th. Zacks Investment Research cut shares of ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. ValuEngine cut shares of Intersect ENT from a “buy” rating to a “hold” rating in a research note on Monday, July 8th. Finally, Wedbush started coverage on Uber Technologies in a report on Wednesday, May 1st. They set an “outperform” rating and a $65.00 price target for the company. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $33.80.

In related news, CFO Robert Nathaniel Martin sold 7,000 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $31.79, for a total value of $222,530.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Larry A. Mizel sold 20,224 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $33.48, for a total transaction of $677,099.52. Following the completion of the sale, the chairman now owns 146,182 shares in the company, valued at $4,894,173.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 234,962 shares of company stock worth $7,671,544. 26.30% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in the company. Penserra Capital Management LLC acquired a new position in shares of M.D.C. during the first quarter worth approximately $56,000. Bank of Montreal Can grew its stake in shares of M.D.C. by 14.1% during the 4th quarter. Bank of Montreal Can now owns 4,908 shares of the construction company’s stock worth $138,000 after acquiring an additional 605 shares during the period. Quantamental Technologies LLC grew its stake in shares of M.D.C. by 2,807.7% during the 1st quarter. Quantamental Technologies LLC now owns 5,641 shares of the construction company’s stock worth $164,000 after acquiring an additional 5,447 shares during the period. 6 Meridian purchased a new stake in M.D.C. during the 1st quarter worth about $207,000. Finally, Magnus Financial Group LLC purchased a new stake in M.D.C. during the 4th quarter worth about $208,000. Institutional investors own 74.76% of the company’s stock.

Shares of MDC traded up $0.04 during midday trading on Thursday, reaching $37.56. 390,640 shares of the stock were exchanged, compared to its average volume of 412,474. The stock has a market capitalization of $2.31 billion, a P/E ratio of 10.23, a P/E/G ratio of 1.34 and a beta of 1.15. The firm has a 50 day moving average of $33.56. M.D.C. has a twelve month low of $25.14 and a twelve month high of $37.75. The company has a current ratio of 8.58, a quick ratio of 2.19 and a debt-to-equity ratio of 0.68.

M.D.C. (NYSE:MDC) last posted its quarterly earnings results on Tuesday, April 30th. The construction company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.05. M.D.C. had a return on equity of 14.20% and a net margin of 6.90%. The business had revenue of $647.28 million during the quarter, compared to the consensus estimate of $597.26 million. During the same quarter in the previous year, the firm earned $0.63 earnings per share. M.D.C.’s revenue for the quarter was up 6.5% compared to the same quarter last year. Research analysts expect that M.D.C. will post 3.33 EPS for the current year.

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.

Featured Story: How do taxes affect a CDs total return?

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.