MDC Partners Inc. (MDCA) Stock Price Down 3.2%
MDC Partners Inc. (NASDAQ:MDCA) shares traded down 3.2% during mid-day trading on Tuesday . The company traded as low as $13.31 and last traded at $13.34, with a volume of 253,362 shares trading hands. The stock had previously closed at $13.78.
A number of research analysts have issued reports on the stock. Zacks Investment Research lowered shares of MDC Partners from a “buy” rating to a “hold” rating in a report on Tuesday, August 2nd. Albert Fried & Company lowered shares of MDC Partners from an “overweight” rating to an “underweight” rating and cut their price objective for the stock from $23.00 to $17.00 in a report on Monday, August 1st. Wedbush cut their price objective on shares of MDC Partners from $26.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, July 29th. Telsey Advisory Group lowered shares of MDC Partners from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $28.50 to $22.00 in a report on Friday, July 29th. Finally, Jefferies Group lowered shares of MDC Partners from a “buy” rating to a “hold” rating and cut their price objective for the stock from $24.00 to $17.00 in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. MDC Partners has a consensus rating of “Hold” and a consensus price target of $22.38.
The firm’s market cap is $708.14 million. The company’s 50-day moving average is $16.29 and its 200-day moving average is $18.98.
MDC Partners (NASDAQ:MDCA) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.15 by $0.13. The company earned $337.05 million during the quarter, compared to analyst estimates of $346.02 million. During the same quarter last year, the firm posted $0.59 EPS. The company’s revenue was up .1% compared to the same quarter last year. Equities research analysts expect that MDC Partners Inc. will post $0.90 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 24th. Investors of record on Wednesday, August 10th will be paid a $0.21 dividend. The ex-dividend date is Monday, August 8th. This represents a $0.84 annualized dividend and a yield of 6.34%.
In other news, CEO Scott L. Kauffman acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The shares were acquired at an average price of $13.27 per share, for a total transaction of $132,700.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
A number of institutional investors have recently bought and sold shares of MDCA. Rhumbline Advisers increased 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. New York State Common Retirement Fund increased 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. Finally, Wells Fargo & Company MN increased 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.
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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