MDC Partners Inc. (MDCA) Sees Strong Trading Volume
MDC Partners Inc. (NASDAQ:MDCA) saw an uptick in trading volume on Tuesday . 377,830 shares were traded during mid-day trading, a decline of 9% from the previous session’s volume of 416,341 shares.The stock last traded at $18.26 and had previously closed at $18.05.
Several research firms have weighed in on MDCA. Jefferies Group reissued a “buy” rating and issued a $24.00 target price on shares of MDC Partners in a report on Thursday, May 5th. Zacks Investment Research raised MDC Partners from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Wednesday, March 23rd. Wells Fargo & Co. raised MDC Partners from a “market perform” rating to an “outperform” rating in a report on Thursday, April 14th. Wedbush reissued an “outperform” rating and issued a $26.00 target price (up previously from $24.00) on shares of MDC Partners in a report on Sunday, March 20th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $26.00 target price on shares of MDC Partners in a report on Wednesday, July 6th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $25.63.
The company’s 50 day moving average price is $17.85 and its 200-day moving average price is $19.71. The company’s market cap is $917.67 million.
MDC Partners (NASDAQ:MDCA) last announced its earnings results on Tuesday, May 3rd. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.10) by $0.37. The business earned $309 million during the quarter, compared to analysts’ expectations of $323.48 million. During the same quarter in the prior year, the firm earned ($0.52) earnings per share. MDC Partners’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts expect that MDC Partners Inc. will post $1.17 EPS for the current year.
Other hedge funds have recently bought and sold shares of the company. RidgeWorth Capital Management LLC increased its stake in MDC Partners by 3.2% in the fourth quarter. RidgeWorth Capital Management LLC now owns 651,227 shares of the company’s stock worth $14,145,000 after buying an additional 19,927 shares in the last quarter. Columbus Circle Investors purchased a new stake in MDC Partners during the fourth quarter worth approximately $22,106,000. New York State Common Retirement Fund increased its stake in MDC Partners by 5.8% in the fourth quarter. New York State Common Retirement Fund now owns 131,892 shares of the company’s stock worth $2,865,000 after buying an additional 7,178 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in MDC Partners during the fourth quarter worth approximately $1,070,000. Finally, Eagle Asset Management Inc. increased its stake in MDC Partners by 22.4% in the fourth quarter. Eagle Asset Management Inc. now owns 200,970 shares of the company’s stock worth $4,365,000 after buying an additional 36,773 shares in the last quarter.
MDC Partners Inc is a provider of marketing communications services. The Company, through its subsidiaries, provides customized marketing, activation, communications and consulting services, including advertising and consumer communication services, media management and effectiveness across all channels, interactive and mobile marketing, direct marketing, database and customer relationship management, sales promotion, corporate communications, market research, data, analytics and insights, corporate identity, design and branding, social media, marketing, product and service innovation, ecommerce and other related services.
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