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M.D.C. (MDC)

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.'

Company profile

Ticker
MDC
Exchange
CEO
Larry Mizel
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
MDC HOLDINGS INC
SEC CIK
Subsidiaries
Allegiant Insurance Company, Inc. • American Home Insurance Agency, Inc. • American Home Title and Escrow Company • HomeAmerican Mortgage Corporation • M.D.C. Land Corporation • Richmond Developments Limited • RAH of Florida, Inc. • Richmond American Construction, Inc. • Richmond American Construction NM, Inc. • Richmond American Homes Corporation ...
IRS number
840622967

MDC stock data

Analyst ratings and price targets

Last 3 months
Current price
Average target
$33.00
Low target
$27.00
High target
$39.00
Wells Fargo
Downgraded
Underweight
$27.00
17 Jun 22
JP Morgan
Maintains
Neutral
$39.00
13 Apr 22

Calendar

28 Apr 22
2 Jul 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 588.35M 588.35M 588.35M 588.35M 588.35M 588.35M
Cash burn (monthly) 5.04M 15.69M (no burn) (no burn) (no burn) 2.66M
Cash used (since last report) 15.44M 48.09M n/a n/a n/a 8.17M
Cash remaining 572.91M 540.26M n/a n/a n/a 580.18M
Runway (months of cash) 113.8 34.4 n/a n/a n/a 217.7

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
22 Jun 22 Herbert T Buchwald Common Stock $.01 Par Value Gift Dispose G Yes No 0 50 0 21,278
21 May 22 Rebecca Givens Common Stock $.01 Par Value Payment of exercise Dispose F No No 36.95 1,573 58.12K 5,307
17 May 22 Mizel Larry A Common Stock $.01Par Value Other Acquire J Yes No 0 1,000,000 0 1,000,000
17 May 22 Mizel Larry A Common Stock $.01Par Value Other Dispose J Yes No 0 1,000,000 0 3,287,730
17 May 22 Herbert T Buchwald Common Stock $.01 Par Value Sell Dispose S Yes No 37.64 9,950 374.52K 10
3 May 22 David E Blackford Common Stock $.01 Par Value Sell Dispose S No No 38.12 3,000 114.36K 19,748
70.4% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 285 319 -10.7%
Opened positions 33 56 -41.1%
Closed positions 67 45 +48.9%
Increased positions 120 108 +11.1%
Reduced positions 91 94 -3.2%
13F shares Current Prev Q Change
Total value 1.9B 3.72B -49.0%
Total shares 50.08M 50.32M -0.5%
Total puts 108.2K 184K -41.2%
Total calls 117K 156.2K -25.1%
Total put/call ratio 0.9 1.2 -21.5%
Largest owners Shares Value Change
BLK Blackrock 11.77M $445.34M -3.1%
Vanguard 6.41M $242.62M +1.5%
Dimensional Fund Advisors 4.24M $160.47M +1.3%
STT State Street 2.52M $95.22M +2.6%
Hamlin Capital Management 2.01M $75.97M +9.1%
PFG Principal Financial Group Inc - Registered Shares 1.33M $50.18M +35.6%
BK Bank Of New York Mellon 1.08M $40.73M +1.6%
LSV Asset Management 1.06M $40.1M -11.5%
Capital World Investors 1.04M $39.54M 0.0%
Geode Capital Management 977.49K $36.99M -1.2%
Largest transactions Shares Bought/sold Change
Norges Bank 0 -538.1K EXIT
NFJ Investment 951.09K +519.22K +120.2%
BLK Blackrock 11.77M -377K -3.1%
PFG Principal Financial Group Inc - Registered Shares 1.33M +348.34K +35.6%
FMR 771.15K -331.12K -30.0%
Hamlin Capital Management 2.01M +167.28K +9.1%
IVZ Invesco 371.51K +152.39K +69.5%
Vision Capital 0 -143.61K EXIT
LSV Asset Management 1.06M -137.61K -11.5%
First Trust Advisors 302.78K +123.11K +68.5%

Financial report summary

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Risks
  • Public health issues such as the global Coronavirus/COVID-19 pandemic could harm business and results of operations of the Company.
  • Changes in general economic, real estate and other business conditions may have an adverse effect on the homebuilding and mortgage industries, which could have a negative impact on our business.
  • Increased competition levels in the homebuilding and mortgage lending industries could have a negative impact on our homebuilding and mortgage operations.
  • If land is not available at reasonable prices or terms, we could be required to scale back our operations in a given market and/or we may operate at lower levels of profitability.
  • Supply shortages and other risks related to the demand for skilled labor and building materials could continue to increase costs and delay deliveries.
  • If mortgage interest rates rise, if down payment requirements are increased, if loan limits are decreased, or if mortgage financing otherwise becomes less available, it could adversely affect our business.
  • Changes to tax laws, incentives or credits currently available to our customers may negatively impact our business.
  • Natural disasters could cause an increase in home construction costs, as well as delays, and could negatively impact our business.
  • We have financial needs that we meet through the capital markets, including the debt and secondary mortgage markets, and disruptions in these markets could have an adverse impact on the results of our business.
  • Our business is subject to numerous federal, state and local laws and regulations concerning land development, construction of homes, sales, mortgage lending, environmental and other aspects of our business. These laws and regulations could give rise to additional liabilities or expenditures, or restrictions on our business.
  • In the ordinary course of business, we are required to obtain surety bonds, the unavailability of which could adversely affect our business.
  • Product liability litigation and warranty claims that arise in the ordinary course of business may be costly.
  • Repurchase requirements associated with HomeAmerican’s sale of mortgage loans, could negatively impact our business.
  • Because of the seasonal nature of our business, our quarterly operating results can fluctuate.
  • We are dependent on the services of key employees, and the loss of their services could hurt our business.
  • Information technology failures and data security breaches could harm our business.

Content analysis

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Positive
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Uncertain
Constraining
Legalese
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H.S. freshman Avg
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Removed: acquired, amortization, ASU, carry, closely, consisted, count, cumulative, declared, demographic, dependent, eliminate, emerge, employment, enable, FASB, gain, global, grant, granted, harm, homeownership, household, impacting, Incentive, low, macroeconomic, measurement, met, minimal, modified, monitor, opening, origination, plan, positively, preliminary, procure, range, recognition, remained, representing, restated, retained, retrospective, Southern, stage, standard, successor, target, termination, threshold, unit, unrealized, variety, volume, wage