MDC Partners Inc. (MDCA) Sets New 12-Month Low at $12.24
Shares of MDC Partners Inc. (NASDAQ:MDCA) hit a new 52-week low during trading on Friday . The stock traded as low as $12.24 and last traded at $12.26, with a volume of 191,310 shares trading hands. The stock had previously closed at $12.56.
Several brokerages recently commented on MDCA. Jefferies Group reissued a “buy” rating and set a $24.00 price objective on shares of MDC Partners in a research report on Thursday, May 5th. Albert Fried & Company downgraded shares of MDC Partners from an “overweight” rating to an “underweight” rating and dropped their price target for the company from $23.00 to $17.00 in a report on Monday, August 1st. Telsey Advisory Group downgraded shares of MDC Partners from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $28.50 to $22.00 in a report on Friday, July 29th. Zacks Investment Research downgraded shares of MDC Partners from a “buy” rating to a “hold” rating in a report on Tuesday, August 2nd. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $26.00 price target on shares of MDC Partners in a report on Wednesday, July 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $22.38.
The firm’s market cap is $655.73 million. The firm has a 50-day moving average of $15.41 and a 200 day moving average of $18.70.
MDC Partners (NASDAQ:MDCA) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.15 by $0.13. The company earned $337.05 million during the quarter, compared to analysts’ expectations of $346.02 million. MDC Partners’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 EPS. On average, equities analysts expect that MDC Partners Inc. will post $0.90 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, August 8th. This represents a $0.84 dividend on an annualized basis and a yield of 6.69%.
In other news, CEO Scott L. Kauffman bought 10,000 shares of MDC Partners stock in a transaction on Friday, August 12th. The stock was acquired at an average cost of $13.27 per share, for a total transaction of $132,700.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
A number of institutional investors have recently made changes to their positions in MDCA. Wells Fargo & Company MN increased its position in shares of MDC Partners by 19.8% in the fourth quarter. Wells Fargo & Company MN now owns 729,868 shares of the company’s stock worth $15,852,000 after buying an additional 120,861 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of 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. Finally, Rhumbline Advisers increased its position in shares of MDC Partners by 3.2% in the fourth quarter. Rhumbline Advisers now owns 52,877 shares of the company’s stock worth $1,148,000 after buying an additional 1,625 shares in 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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