Heartland Advisors Inc Lowers stake in M.D.C. Holdings (MDC)

M.D.C. Holdings (MDC) : Heartland Advisors Inc reduced its stake in M.D.C. Holdings by 13.82% during the most recent quarter end. The investment management company now holds a total of 1,695,690 shares of M.D.C. Holdings which is valued at $39,102,611 after selling 271,906 shares in M.D.C. Holdings , the firm said in a disclosure report filed with the SEC on May 3, 2016.M.D.C. Holdings makes up approximately 2.04% of Heartland Advisors Inc’s portfolio.

Other Hedge Funds, Including , Bluecrest Capital Management Ltd sold out all of its stake in MDC during the most recent quarter. The investment firm sold 93,844 shares of MDC which is valued $2,164,043.Ifp Advisors Inc boosted its stake in MDC in the latest quarter, The investment management firm added 50 additional shares and now holds a total of 66 shares of M.D.C. Holdings which is valued at $1,522.Retirement Systems Of Alabama boosted its stake in MDC in the latest quarter, The investment management firm added 301 additional shares and now holds a total of 50,554 shares of M.D.C. Holdings which is valued at $1,244,134. M.D.C. Holdings makes up approx 0.01% of Retirement Systems Of Alabama’s portfolio. First Manhattan Co reduced its stake in MDC by selling 6,200 shares or 8.01% in the most recent quarter. The Hedge Fund company now holds 71,158 shares of MDC which is valued at $1,823,068. M.D.C. Holdings makes up approx 0.01% of First Manhattan Co’s portfolio.

M.D.C. Holdings closed down -0.08 points or -0.35% at $23.03 with 5,86,278 shares getting traded on Tuesday. Post opening the session at $23.25, the shares hit an intraday low of $22.92 and an intraday high of $23.25 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, M.D.C. Holdings reported $0.20 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on May 5, 2016. Analyst had a consensus of $0.25. The company had revenue of $396.70 million for the quarter, compared to analysts expectations of $427.36 million. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS.

Many Wall Street Analysts have commented on M.D.C. Holdings. Shares were Reiterated by Deutsche Bank on Feb 9, 2016 to “Buy” and Lowered the Price Target to $ 30 from a previous price target of $36 .Company shares were Reiterated by Barclays on Feb 4, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 25 from a previous price target of $24 .

M.D.C. Holdings Inc. (MDC) is engaged in two primary operations homebuilding and financial services. The Company’s homebuilding operations consist of wholly owned subsidiary companies that purchase finished lots or develop lots to the extent necessary for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the name Richmond American Homes. The Company’s homebuilding operations consist of various homebuilding divisions. Its financial services operations consist of HomeAmerican Mortgage Corporation (HomeAmerican); Allegiant Insurance Company Inc. (Allegiant); StarAmerican Insurance Ltd.; American Home Insurance Agency Inc. and American Home Title and Escrow Company which provides title agency services to its homebuilding subsidiaries and its customers in certain states.

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