MDC Partners Inc. (MDCA) Hits New 1-Year Low at $12.24
MDC Partners Inc. (NASDAQ:MDCA) hit a new 52-week low on Friday . The company 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.
MDCA has been the subject of a number of recent analyst reports. BMO Capital Markets restated an “outperform” rating and set a $26.00 price objective on shares of MDC Partners in a research note on Monday, May 2nd. Jefferies Group restated a “buy” rating and set a $24.00 price objective on shares of MDC Partners in a research note on Thursday, May 5th. Albert Fried & Company restated a “buy” rating and set a $23.00 price objective on shares of MDC Partners in a research note on Sunday, July 3rd. Zacks Investment Research upgraded MDC Partners from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Thursday, July 28th. Finally, Telsey Advisory Group lowered MDC Partners from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $28.50 to $22.00 in a research note on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.38.
The company has a 50-day moving average of $15.28 and a 200 day moving average of $18.67. The stock’s market capitalization is $657.33 million.
MDC Partners (NASDAQ:MDCA) last issued its earnings results on Thursday, July 28th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by $0.13. The business earned $337.05 million during the quarter, compared to analysts’ expectations of $346.02 million. MDC Partners’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 EPS. Equities research analysts expect that MDC Partners Inc. will post $0.90 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th were paid a $0.21 dividend. The ex-dividend date was Monday, August 8th. This represents a $0.84 dividend on an annualized basis and a yield of 6.83%.
In other news, CEO Scott L. Kauffman bought 10,000 shares of the stock in a transaction on Friday, August 12th. The shares were purchased at an average price 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 available through this link.
A hedge fund recently raised its stake in MDC Partners stock. Rhumbline Advisers boosted its position in shares of MDC Partners Inc. (NASDAQ:MDCA) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,877 shares of the company’s stock after buying an additional 1,625 shares during the period. Rhumbline Advisers owned about 0.10% of MDC Partners worth $1,148,000 at the end of the most recent reporting period.
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.