The stock of M.D.C. Holdings, Inc. (NYSE:MDC) gapped down by $0.06 today and has $23.40 target or 8.00% below today’s $25.44 share price. The 8 months technical chart setup indicates high risk for the $1.24B company. The gap down was reported on Oct, 4 by Barchart.com. If the $23.40 price target is reached, the company will be worth $99.20M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 1.40% or $0.36 during the last trading session, hitting $25.44. About 359,154 shares traded hands or 9.80% up from the average. M.D.C. Holdings, Inc. (NYSE:MDC) has risen 11.73% since March 1, 2016 and is uptrending. It has underperformed by 0.49% the S&P500.
Analysts await M.D.C. Holdings, Inc. (NYSE:MDC) to report earnings on October, 25. They expect $0.64 EPS, up 77.78% or $0.28 from last year’s $0.36 per share. MDC’s profit will be $31.19 million for 9.94 P/E if the $0.64 EPS becomes a reality. After $0.55 actual EPS reported by M.D.C. Holdings, Inc. for the previous quarter, Wall Street now forecasts 16.36% EPS growth.
M.D.C. Holdings, Inc. (NYSE:MDC) Ratings Coverage
Out of 4 analysts covering MDC Holdings (NYSE:MDC), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. MDC Holdings has been the topic of 11 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Deutsche Bank maintained the stock with “Buy” rating in Monday, May 16 report. The rating was initiated by Wells Fargo on Thursday, September 29 with “Market Perform”. The rating was initiated by Barclays Capital with “Overweight” on Tuesday, October 13. The rating was upgraded by KeyBanc Capital Markets to “” on Thursday, August 6. Barclays Capital downgraded it to “Equal Weight” rating and $24 target price in Wednesday, January 20 report. The rating was maintained by Citigroup on Friday, August 7 with “Buy”.
According to Zacks Investment Research, “M.D.C. HOLDINGS, INC. is engaged in the construction, sale and related financing of residential housing and the acquisition and development of land for use in its homebuilding activities and sale to others, in the Denver, Phoenix, Maryland, Virginia, mid Atlantic region, Las Vegas, Dallas, California metropolitan areas. They are also is involved in real estate brokerage, property management, condominium conversions and fee construction of apartment and commercial buildings.”
Insitutional Activity: The institutional sentiment decreased to 0.83 in Q2 2016. Its down 0.35, from 1.18 in 2016Q1. The ratio dived, as 26 funds sold all M.D.C. Holdings, Inc. shares owned while 62 reduced positions. 21 funds bought stakes while 52 increased positions. They now own 38.01 million shares or 0.55% more from 37.80 million shares in 2016Q1.
Invesco holds 0% of its portfolio in M.D.C. Holdings, Inc. (NYSE:MDC) for 87,911 shares. Citigroup Inc holds 1,034 shares or 0% of its portfolio. Blackrock Gru Ltd, a United Kingdom-based fund reported 56,528 shares. Louisiana State Employees Retirement accumulated 0.02% or 17,400 shares. Price T Rowe Assocs Md last reported 0% of its portfolio in the stock. Zurcher Kantonalbank (Zurich Cantonalbank) has 981 shares for 0% of their US portfolio. D E Shaw And Com has 0% invested in the company for 39,981 shares. Jpmorgan Chase accumulated 544,025 shares or 0% of the stock. Vertex One Asset Mgmt holds 1.18% or 299,685 shares in its portfolio. Prudential reported 95,531 shares or 0% of all its holdings. Moreover, First Tru Advsrs Limited Partnership has 0.02% invested in M.D.C. Holdings, Inc. (NYSE:MDC) for 209,384 shares. Sei Invs holds 0% or 32 shares in its portfolio. Teachers Advsrs Inc last reported 63,269 shares in the company. State Of Tennessee Treasury Department owns 31,270 shares or 0% of their US portfolio. Advisors Asset Inc reported 97 shares or 0% of all its holdings.
More recent M.D.C. Holdings, Inc. (NYSE:MDC) news were published by: Marketwatch.com which released: “/quotes/zigman/3870025/realtime” on July 31, 2009. Also Prnewswire.com published the news titled: “M.D.C. Holdings Announces 2016 Second Quarter Earnings Release Schedule And …” on July 08, 2016. Forbes.com‘s news article titled: “Ex-Dividend Reminder: MDC Holdings, Bloomin’ Brands and Cheesecake Factory” with publication date: August 04, 2016 was also an interesting one.
MDC Company Profile
M.D.C. Holdings, Inc., incorporated on May 17, 1985, is engaged in two primary operations, including homebuilding and financial services. The Company’s homebuilding activities consist of subsidiary companies that purchases finished lots or develop lots 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 activities consists of various homebuilding divisions that the Company considers to be its operating divisions. The Company’s operating divisions include West (include operating divisions located in Arizona, California, Nevada and Washington); Mountain (include operating divisions located in Colorado and Utah), and East (include operating divisions located in Virginia, Florida and Maryland, which include Pennsylvania, and New Jersey).
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