Cventures buys $146.6 Million stake in M.D.C. Holdings (MDC)

M.D.C. Holdings (MDC) : Cventures scooped up 40,000 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 May 13, 2016. The investment management firm now holds a total of 6,534,951 shares of M.D.C. Holdings which is valued at $146.6 Million.M.D.C. Holdings makes up approximately 100.00% of Cventures’s portfolio.

Other Hedge Funds, Including , Parametric Portfolio Associates boosted its stake in MDC in the latest quarter, The investment management firm added 16,172 additional shares and now holds a total of 60,605 shares of M.D.C. Holdings which is valued at $1.4 Million.Meeder Asset Management Inc reduced its stake in MDC by selling 1,844 shares or 7.68% in the most recent quarter. The Hedge Fund company now holds 22,169 shares of MDC which is valued at $497,472. M.D.C. Holdings makes up approx 0.05% of Meeder Asset Management Inc’s portfolio.Mutual Of America Capital Management boosted its stake in MDC in the latest quarter, The investment management firm added 309 additional shares and now holds a total of 28,964 shares of M.D.C. Holdings which is valued at $649,952. M.D.C. Holdings makes up approx 0.01% of Mutual Of America Capital Management’s portfolio.Swiss National Bank boosted its stake in MDC in the latest quarter, The investment management firm added 11,800 additional shares and now holds a total of 63,600 shares of M.D.C. Holdings which is valued at $1.5 Million.Pitcairn Co reduced its stake in MDC by selling 7,478 shares or 36.96% in the most recent quarter. The Hedge Fund company now holds 12,753 shares of MDC which is valued at $313,851. M.D.C. Holdings makes up approx 0.04% of Pitcairn Co’s portfolio.

M.D.C. Holdings opened for trading at $23.22 and hit $23.39 on the upside on Wednesday, eventually ending the session at $23.13, with a gain of 0.13% or 0.03 points. The heightened volatility saw the trading volume jump to 5,45,031 shares. Company has a market cap of $1,134 M.

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.

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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