The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. M.D.C. Holdings Inc. shares valued at $115,050 were sold by BLACKFORD DAVID E on Feb 08. At $38.35 per share, BLACKFORD DAVID E sold 3,000 shares. The insider’s holdings dropped to 25,087 shares worth approximately $0.92 million following the completion of this transaction.
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Also, MANDARICH DAVID D sold 213,971 shares, netting a total of over 6,980,753 in proceeds. Following the sale of shares at $32.62 each, the insider now holds 5,049,663 shares.
Before that, MANDARICH DAVID D had sold 866,029 shares from its account. In a trade valued at $28,121,332, the President, CEO and Director traded M.D.C. Holdings Inc. shares for $32.47 each. Upon closing the transaction, the insider’s holdings decreased to 866,029 shares, worth approximately $193.18 million.
As published in a research note from JP Morgan on November 22, 2022, M.D.C. Holdings Inc. [MDC] has been rated down from a Neutral to an Underweight and the price target has been revised to $28 from $27. This represents a -31.07% premium over Wednesday’s closing price. Analysts at Raymond James downgraded the stock from ‘”a Strong buy”‘ to ‘”a Mkt perform”‘ outlook in a report released in late October. As of June 17, 2022, Wells Fargo has decreased its “an Equal weight” rating to a “an Underweight” for MDC. Earlier on October 14, 2021, JP Morgan downgraded its rating. Their new recommendation was “a Neutral” for MDC stock which previously was a “an Overweight”.
Analyzing MDC Stock Performance
On Wednesday, M.D.C. Holdings Inc. [NYSE: MDC] plunged -0.81% to $36.70. The stock’s lowest price that day was $36.64, but it reached a high of $37.545 in the same session. During the last five days, there has been a surge of approximately 0.08%. Over the course of the year, M.D.C. Holdings Inc. shares have jumped approximately 16.14%. Shares of the company reached a 52-week high of $41.41 on 02/02/23 and a 52-week low of $31.42 on 01/03/23. A 50-day SMA is recorded $35.87, while a 200-day SMA reached $33.43. Nevertheless, trading volume fell to 0.51 million shares from 0.51 million shares the previous day.
Support And Resistance Levels for M.D.C. Holdings Inc. (MDC)
According to the 24-hour chart, there is a support level at 36.38, which, if violated, would cause prices to drop to 36.06. In the upper region, resistance lies at 37.28. The next price resistance is at 37.87. RSI (Relative Strength Index) is 46.43 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.63, which suggests the price will decrease in the coming days. Percent R is at 83.19%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is M.D.C. Holdings Inc. subject to short interest?
Stocks of M.D.C. Holdings Inc. saw a sharp steep in short interest on Jan 12, 2023 dropping by -0.14 million shares to 2.53 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 2.67 million shares. A decline of -5.53% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5 of the overall float, the days-to-cover ratio (short ratio) decline to 5.
Which companies own the most shares of M.D.C. Holdings Inc. (MDC)?
According to BlackRock Fund Advisors filings, the company currently owns 9,363,684 shares, which is about 13.14% of the total MDC shares outstanding. The investor’s shares have plunged by -321,252 from its previous 13-F filing of 9684936.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $250,290,650. Dimensional Fund Advisors LP acquire a 5.91% interest valued at $192.24 million while SSgA Funds Management, Inc. purchased a 82,509 stake. A total of 0 shares of M.D.C. Holdings Inc. were bought by Capital Research & Management Co during the quarter, and 13,814 were bought by Hamlin Capital Management LLC. In its current portfolio, Principal Global Investors LLC holds 1,625,714 shares valued at $61.39 million.
In terms of M.D.C. Holdings Inc. share price expectations, FactSet research, analysts set an average price target of $33.83 in the next 12 months, down nearly -17.57% from the previous closing price of $37.00. Analysts anticipate M.D.C. Holdings Inc. stock to reach $43.00 by 2023, with the lowest price target being $28.00. In spite of this, 6 analysts ranked M.D.C. Holdings Inc. stock as a Hold at the end of 2023. On April 16, 2021, Wells Fargo assigned a price target of “an Equal weight” to the stock and initiated coverage with a $65.