MDC Partners Inc. (MDCA) Trading 3.9% Higher
MDC Partners Inc. (NASDAQ:MDCA) traded up 3.9% on Friday . The stock traded as high as $13.97 and last traded at $13.74, with a volume of 365,277 shares traded. The stock had previously closed at $13.22.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of MDC Partners from a “buy” rating to a “hold” rating in a research report on Thursday, April 14th. Wells Fargo & Co. raised shares of MDC Partners from a “market perform” rating to an “outperform” rating in a research report on Thursday, April 14th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $26.00 price target on shares of MDC Partners in a research report on Monday, May 2nd. Albert Fried & Company raised shares of MDC Partners from an “underweight” rating to an “overweight” rating in a research report on Friday, July 29th. Finally, Telsey Advisory Group cut shares of MDC Partners from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $28.50 to $22.00 in a research report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. MDC Partners presently has a consensus rating of “Hold” and an average target price of $22.38.
The company’s market cap is $737.02 million. The stock’s 50-day moving average price is $16.66 and its 200 day moving average price is $19.09.
MDC Partners (NASDAQ:MDCA) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by $0.13. The business had revenue of $337.05 million for the quarter, compared to analyst estimates of $346.02 million. During the same period in the previous year, the company posted $0.59 EPS. MDC Partners’s revenue was up .1% on a year-over-year basis. Equities research analysts expect that MDC Partners Inc. will post $0.90 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.35%. The ex-dividend date is Monday, August 8th.
In related news, CEO Scott L. Kauffman purchased 10,000 shares of the company’s stock in a transaction on Thursday, August 4th. The stock was acquired at an average cost of $13.86 per share, for a total transaction of $138,600.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Several hedge funds and institutional investors have bought and sold shares of the stock. Wells Fargo & Company MN raised its position in MDC Partners by 19.8% in the fourth quarter. Wells Fargo & Company MN now owns 729,868 shares of the company’s stock valued at $15,852,000 after buying an additional 120,861 shares during the last quarter. New York State Common Retirement Fund raised its position 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 valued at $2,865,000 after buying an additional 7,178 shares during the last quarter. Rhumbline Advisers raised its position in MDC Partners by 3.2% in the fourth quarter. Rhumbline Advisers now owns 52,877 shares of the company’s stock valued at $1,148,000 after buying an additional 1,625 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in MDC Partners by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 80,537 shares of the company’s stock valued at $1,749,000 after buying an additional 1,285 shares during the last quarter.
MDC Partners Inc is a provider of marketing, advertising, activation, communications and strategic consulting solutions. The Company’s segment is Advertising and Communications. It operates through a network of Partner Firms. The Advertising and Communications segment consists of integrated marketing consulting services to Partner Firms that offers advertising, marketing, media, communications solutions, and specialized consumer insights and analytics, including global advertising and marketing services; media buying, planning and optimization; interactive and mobile marketing; direct marketing; public relations; corporate communications; market research; corporate identity and branding services; sales promotion; the design, development, research and implementation of consumer services, and direct marketing services.
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