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

NYSE

Website

www.richmondamerican.com

CEO

Larry Mizel

Incorporated

Delaware

Location

Colorado

Fiscal year end

Dec 31

Sector

Construction > New Single-Family Housing Construction (except For-Sale Builders)

Industry (SIC)

Operative Builders

PulteGroup • D.R. Horton • Toll Brothers • Taylor Morrison Home • KB Home • NVR • Beazer Homes USA • Hovnanian Enterprises • Meritage Homes • Dream Finders Homes ...

Former names

MDC HOLDINGS INC

SEC CIK

0000773141

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

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

1M 1Y 5Y

News

From Benzinga Pro

Wells Fargo Revises Ratings On These Homebuilders - Read Why

17 Jun 22

Wells Fargo analyst Deepa Raghavan changed homebuilder estimates, ratings, and price targets. According to the analyst, fundamental housing data will continue to deteriorate steadily from here, feeding negative investor sentiment. She seeks to estimate how far stocks can fall based on perceived risk.

Benzinga's Top Ratings Upgrades, Downgrades For June 17, 2022

17 Jun 22

Upgrades

Wells Fargo Downgrades M.D.C. Holdings to Underweight, Announces $27 Price Target

17 Jun 22

Wells Fargo analyst Deepa Raghavan downgrades M.D.C. Holdings (NYSE:MDC) from Equal-Weight to Underweight and announces $27 price target.

Stocks That Hit 52-Week Lows On Monday

13 Jun 22

Looking Into M.D.C. Holdings's Return On Invested Capital

4 May 22

Press releases

From Benzinga Pro

Richmond American Opens Debut Community Near Albuquerque

24 Jun 22

Homebuilder offers versatile floor plans with hundreds of design options RIO RANCHO, N.M., June 24, 2022 /PRNewswire/ -- Richmond American Homes of New Mexico, Inc., a subsidiary of M.D.C. Holdings, Inc. (NYSE:MDC), is

M.D.C. HOLDINGS ANNOUNCES 2022 SECOND QUARTER EARNINGS RELEASE SCHEDULE AND CONFERENCE CALL

24 Jun 22

DENVER, June 24, 2022 /PRNewswire/ -- M.D.C. Holdings, Inc. (NYSE:MDC), one of the nation's leading homebuilders, will release its 2022 second quarter earnings before the market opens on Thursday, July 28, 2022. MDC

Richmond American Debuts New Community and Homes in Pueblo

20 Jun 22

Potential homebuyers and agents are invited to an open house at Villa Bella! PUEBLO, Colo., June 20, 2022 /PRNewswire/ -- Richmond American Homes of Colorado, Inc., a subsidiary of M.D.C. Holdings, Inc. (NYSE:MDC), is

Richmond American Debuts New Model Homes in Rancho Cordova

13 Jun 22

New Richmond American Community in St. Johns County Now Open

7 Jun 22

Analyst ratings and price targets

Last 3 months

Average target

$33.00

Low target

$27.00

High target

$39.00

Calendar

28 Apr 22

2 Jul 22

31 Dec 22

Financial summary

Financial statements Chart MDC financial data

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

Financial data from M.D.C. earnings reports.

Recent insider trades

MDC insider ownership history Insider history

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

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q1 2022

MDC institutional ownership history Ownership history

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%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Financial report summary

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

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. freshman Avg

New words: assigned, consummation, contracted, conveyed, disclosed, duration, environment, flat, footprint, geopolitical, inflationary, Interbank, London, Nashville, newest, Northern, occurrence, outlined, Overnight, quantitative, quickly, redemption, resilient, resource, Richmand, SOFR, strength, unemployment, varying, volatile

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

From filing 10-Q 2022 Q1

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