Short Interest in M.D.C. Holdings, Inc. (MDC) Expands By 38.9%

M.D.C. Holdings, Inc. (NYSE:MDC) saw a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 2,142,613 shares, a growth of 38.9% from the October 13th total of 1,542,704 shares. Currently, 5.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 452,800 shares, the days-to-cover ratio is presently 4.7 days.

Shares of M.D.C. (NYSE MDC) traded down $1.16 during trading hours on Tuesday, hitting $31.75. The stock had a trading volume of 593,688 shares, compared to its average volume of 517,418. The company has a market capitalization of $1,850.73, a P/E ratio of 11.84, a P/E/G ratio of 1.09 and a beta of 1.35. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.60 and a current ratio of 9.45. M.D.C. has a 1 year low of $25.55 and a 1 year high of $37.45.

M.D.C. (NYSE:MDC) last posted its earnings results on Thursday, November 2nd. The construction company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.55. M.D.C. had a return on equity of 11.66% and a net margin of 6.09%. The company had revenue of $586.30 million for the quarter, compared to the consensus estimate of $595.05 million. During the same quarter in the prior year, the company earned $0.54 earnings per share. M.D.C.’s revenue was up 1.4% on a year-over-year basis. sell-side analysts expect that M.D.C. will post 2.73 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Tuesday, November 7th. M.D.C.’s dividend payout ratio is 33.22%.

MDC has been the subject of several recent research reports. ValuEngine downgraded M.D.C. from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd. Citigroup reduced their target price on M.D.C. from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Friday, November 3rd. Wells Fargo & Company raised M.D.C. from an “underperform” rating to a “market perform” rating and set a $30.00 target price on the stock in a research note on Wednesday, August 30th. They noted that the move was a valuation call. KeyCorp reissued a “hold” rating on shares of M.D.C. in a research note on Tuesday, September 26th. Finally, Zacks Investment Research raised M.D.C. from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. M.D.C. presently has an average rating of “Hold” and an average target price of $30.33.

A number of hedge funds have recently bought and sold shares of MDC. Amalgamated Bank bought a new position in shares of M.D.C. in the second quarter worth about $202,000. Parsec Financial Management Inc. bought a new position in shares of M.D.C. in the second quarter worth about $208,000. Capital Fund Management S.A. bought a new position in shares of M.D.C. in the second quarter worth about $223,000. Sawgrass Asset Management LLC bought a new position in shares of M.D.C. in the third quarter worth about $262,000. Finally, HighTower Advisors LLC raised its stake in shares of M.D.C. by 11.4% in the first quarter. HighTower Advisors LLC now owns 9,311 shares of the construction company’s stock worth $274,000 after buying an additional 951 shares during the period. 80.09% of the stock is currently owned by institutional investors.

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About M.D.C.

M.DC Holdings, Inc is engaged in two primary operations, including homebuilding and financial services. The Company’s segments include West, including segments located in Arizona, California, Nevada and Washington; Mountain, including segments located in Colorado and Utah; East, including segments located in Virginia, Florida and Maryland, which includes Pennsylvania and New Jersey; mortgage operations, including HomeAmerican Mortgage Corporation, and Other, which includes Allegiant Insurance Company, Inc, StarAmerican Insurance Ltd., American Home Insurance Agency, Inc and American Home Title and Escrow Company.

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