Investment Management Of Virginia Lowers stake in M.D.C. Holdings (MDC)

M.D.C. Holdings (MDC) : Investment Management Of Virginia reduced its stake in M.D.C. Holdings by 14.33% during the most recent quarter end. The investment management company now holds a total of 232,213 shares of M.D.C. Holdings which is valued at $5,563,823 after selling 38,836 shares in M.D.C. Holdings , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.M.D.C. Holdings makes up approximately 1.41% of Investment Management Of Virginia’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc boosted its stake in MDC in the latest quarter, The investment management firm added 3,705 additional shares and now holds a total of 4,672 shares of M.D.C. Holdings which is valued at $111,941.Hexavest boosted its stake in MDC in the latest quarter, The investment management firm added 465,464 additional shares and now holds a total of 1,023,024 shares of M.D.C. Holdings which is valued at $24,961,786. M.D.C. Holdings makes up approx 0.45% of Hexavest’s portfolio. Creative Planning added MDC to its portfolio by purchasing 521 company shares during the most recent quarter which is valued at $12,712.Cutler Group Lp boosted its stake in MDC in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 1,175 shares of M.D.C. Holdings which is valued at $29,128.

M.D.C. Holdings closed down -0.39 points or -1.57% at $24.4 with 2,29,690 shares getting traded on Tuesday. Post opening the session at $24.76, the shares hit an intraday low of $24.25 and an intraday high of $24.76 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 $0.55 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. M.D.C. Holdings was Initiated by Wells Fargo to “Market Perform” on Sep 29, 2016. 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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