Fintel reports that on August 3, 2023, Raymond James maintained coverage of M.D.C. Holdings (NYSE:MDC) with a Outperform recommendation.
Analyst Price Forecast Suggests 7.06% Upside
As of August 2, 2023, the average one-year price target for M.D.C. Holdings is 55.08. The forecasts range from a low of 51.51 to a high of $58.80. The average price target represents an increase of 7.06% from its latest reported closing price of 51.45.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for M.D.C. Holdings is 3,903MM, a decrease of 24.17%. The projected annual non-GAAP EPS is 3.12.
What is the Fund Sentiment?
There are 627 funds or institutions reporting positions in M.D.C. Holdings. This is a decrease of 2 owner(s) or 0.32% in the last quarter. Average portfolio weight of all funds dedicated to MDC is 0.20%, an increase of 14.39%. Total shares owned by institutions decreased in the last three months by 9.92% to 65,535K shares. 
The put/call ratio of MDC is 4.17, indicating a bearish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 4,225K shares representing 5.67% ownership of the company. In it's prior filing, the firm reported owning 4,225K shares, representing an increase of 0.02%. The firm increased its portfolio allocation in MDC by 19.54% over the last quarter.
SMCWX - SMALLCAP WORLD FUND INC holds 2,001K shares representing 2.68% ownership of the company. No change in the last quarter.
Capital World Investors holds 2,001K shares representing 2.68% ownership of the company. No change in the last quarter.
DFSVX - U.s. Small Cap Value Portfolio - Institutional Class holds 1,862K shares representing 2.50% ownership of the company. No change in the last quarter.
Principal Financial Group holds 1,823K shares representing 2.45% ownership of the company. In it's prior filing, the firm reported owning 1,626K shares, representing an increase of 10.83%. The firm decreased its portfolio allocation in MDC by 25.70% over the last quarter.
M.D.C. Holdings Background Information
(This description is provided by the company.)
M.D.C. Holdings, Inc. was founded in 1972. MDC's homebuilding subsidiaries, which operate under the name Richmond American Homes, have built and financed the American Dream for more than 210,000 homebuyers since 1977. MDC's commitment to customer satisfaction, quality and value is reflected in each home its subsidiaries build. MDC is one of the largest homebuilders in the United States. Its subsidiaries have homebuilding operations across the country, including the metropolitan areas of Denver, Colorado Springs, Salt Lake City, Las Vegas, Phoenix, Tucson, Riverside-San Bernardino, Los Angeles, San Diego, Orange County, San Francisco Bay Area, Sacramento, Washington D.C., Baltimore, Orlando, Jacksonville, Seattleand Portland. MDC's subsidiaries also provide mortgage financing, insurance and title services, primarily for Richmond American homebuyers, through HomeAmerican Mortgage Corporation, American Home Insurance Agency, Inc. and American Home Title and Escrow Company, respectively. M.D.C. Holdings, Inc. is traded on the New York Stock Exchange under the symbol 'MDC.'
Additional reading:
- M.D.C. HOLDINGS ANNOUNCES SECOND QUARTER 2023 RESULTS
- TENTH AMENDMENT TO AMENDED AND RESTATED MASTER REPURCHASE AGREEMENT
- Power of Attorney.
- M.D.C. HOLDINGS ANNOUNCES FIRST QUARTER 2023 RESULTS
- First Amendment to the M.D.C. Holdings, Inc. 2021 Equity Incentive Plan
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
