Investment Management Of Virginia buys $6,738,278 stake in M.D.C. Holdings (MDC)

M.D.C. Holdings (MDC) : Investment Management Of Virginia scooped up 3,037 additional shares in M.D.C. Holdings during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 271,049 shares of M.D.C. Holdings which is valued at $6,738,278.M.D.C. Holdings makes up approximately 1.63% of Investment Management Of Virginia’s portfolio.

Other Hedge Funds, Including , Renaissance Technologies boosted its stake in MDC in the latest quarter, The investment management firm added 128,700 additional shares and now holds a total of 155,400 shares of M.D.C. Holdings which is valued at $3,863,244. M.D.C. Holdings makes up approx 0.01% of Renaissance Technologies’s portfolio.Wfg Advisors Lp boosted its stake in MDC in the latest quarter, The investment management firm added 9 additional shares and now holds a total of 792 shares of M.D.C. Holdings which is valued at $19,689. M.D.C. Holdings makes up approx 0.01% of Wfg Advisors Lp’s portfolio.Blackrock Institutional Trust Company N.a. reduced its stake in MDC by selling 392,773 shares or 29.34% in the most recent quarter. The Hedge Fund company now holds 945,695 shares of MDC which is valued at $23,509,978. Advantus Capital Management Inc sold out all of its stake in MDC during the most recent quarter. The investment firm sold 5,285 shares of MDC which is valued $131,385.Vanguard Group Inc boosted its stake in MDC in the latest quarter, The investment management firm added 346,293 additional shares and now holds a total of 3,155,704 shares of M.D.C. Holdings which is valued at $78,450,801.

M.D.C. Holdings opened for trading at $25.9 and hit $26.12 on the upside on Monday, eventually ending the session at $25.84, with a gain of 0.23% or 0.06 points. The heightened volatility saw the trading volume jump to 1,88,139 shares. Company has a market cap of $1,267 M.

On the company’s financial health, M.D.C. Holdings reported $0.55 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.49. The company had revenue of $571.50 million for the quarter, compared to analysts expectations of $549.89 million. The company’s revenue was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS.

Many Wall Street Analysts have commented on M.D.C. Holdings. Shares were Downgraded by Deutsche Bank on Aug 8, 2016 to ” Hold” and Lowered the Price Target to $ 27 from a previous price target of $28 .

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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