Oppenheimer & Co. Inc. Has $203,000 Position in MDC Partners Inc. (MDCA)
Oppenheimer & Co. Inc. boosted its stake in shares of MDC Partners Inc. (NASDAQ:MDCA) by 7.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,480 shares of the business services provider’s stock after purchasing an additional 1,340 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in MDC Partners were worth $203,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Stifel Financial Corp boosted its position in MDC Partners by 3.8% during the 1st quarter. Stifel Financial Corp now owns 13,895 shares of the business services provider’s stock valued at $131,000 after purchasing an additional 515 shares during the period. Vanguard Group Inc. boosted its position in MDC Partners by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 1,397,114 shares of the business services provider’s stock valued at $13,133,000 after purchasing an additional 63,952 shares during the period. Taylor Asset Management Inc. boosted its position in MDC Partners by 1.2% during the 2nd quarter. Taylor Asset Management Inc. now owns 1,331,965 shares of the business services provider’s stock valued at $13,186,000 after purchasing an additional 16,304 shares during the period. Geode Capital Management LLC boosted its position in MDC Partners by 24.7% during the 1st quarter. Geode Capital Management LLC now owns 119,017 shares of the business services provider’s stock valued at $1,118,000 after purchasing an additional 23,545 shares during the period. Finally, PEAK6 Investments L.P. acquired a new position in MDC Partners during the 1st quarter valued at approximately $168,000. Institutional investors and hedge funds own 83.69% of the company’s stock.
MDC Partners Inc. (NASDAQ MDCA) opened at 10.15 on Friday. The firm’s 50-day moving average price is $9.96 and its 200-day moving average price is $9.23. MDC Partners Inc. has a 12 month low of $2.75 and a 12 month high of $11.80. The firm’s market cap is $593.17 million.
MDC Partners (NASDAQ:MDCA) last released its quarterly earnings results on Monday, August 7th. The business services provider reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.02). MDC Partners had a negative net margin of 1.70% and a negative return on equity of 5.72%. The business had revenue of $390.53 million for the quarter, compared to analyst estimates of $368.74 million. During the same period in the prior year, the business earned $0.02 earnings per share. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. Equities research analysts predict that MDC Partners Inc. will post $0.31 earnings per share for the current year.
A number of research analysts recently issued reports on the company. Royal Bank Of Canada restated a “sector perform” rating and set a $12.00 price objective (up previously from $10.00) on shares of MDC Partners in a research report on Tuesday, August 8th. BidaskClub upgraded MDC Partners from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 19th. Zacks Investment Research upgraded MDC Partners from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Tuesday, July 18th. Jefferies Group LLC restated a “buy” rating on shares of MDC Partners in a research report on Thursday. Finally, BMO Capital Markets restated a “buy” rating and set a $15.00 price objective on shares of MDC Partners in a research report on Wednesday, September 13th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $12.14.
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MDC Partners Company Profile
MDC Partners Inc is a provider of global marketing, advertising, activation, communications and strategic consulting solutions. The Company and its subsidiary agencies (Partner Firms) deliver a range of customized services. The Company’s segments include Reportable Segment, All Other and Corporate. The Reportable segment consists of the Company’s integrated advertising, media and public relations service companies.
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