Vanguard Group Inc. Acquires 105,949 Shares of MDC Partners Inc. (MDCA)
Vanguard Group Inc. boosted its holdings in shares of MDC Partners Inc. (NASDAQ:MDCA) by 7.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,503,063 shares of the business services provider’s stock after purchasing an additional 105,949 shares during the period. Vanguard Group Inc. owned approximately 2.64% of MDC Partners worth $14,881,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in MDCA. Principal Financial Group Inc. acquired a new stake in MDC Partners during the second quarter valued at approximately $101,000. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of MDC Partners in the 2nd quarter valued at approximately $136,000. Legal & General Group Plc lifted its position in shares of MDC Partners by 0.9% in the 1st quarter. Legal & General Group Plc now owns 14,767 shares of the business services provider’s stock valued at $139,000 after acquiring an additional 127 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of MDC Partners by 1,634.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 15,457 shares of the business services provider’s stock valued at $153,000 after acquiring an additional 14,566 shares in the last quarter. Finally, KCG Holdings Inc. purchased a new stake in shares of MDC Partners in the 1st quarter valued at approximately $196,000. 85.31% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently commented on MDCA. Royal Bank Of Canada restated a “sector perform” rating and issued a $12.00 price target (up previously from $10.00) on shares of MDC Partners in a research report on Tuesday, August 8th. BidaskClub downgraded shares of MDC Partners from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. Jefferies Group LLC restated a “buy” rating on shares of MDC Partners in a research report on Thursday, September 21st. BMO Capital Markets restated a “buy” rating and issued a $15.00 price target on shares of MDC Partners in a research report on Wednesday, September 13th. Finally, Wells Fargo & Company restated a “hold” rating and issued a $12.00 price target on shares of MDC Partners in a research report on Tuesday, October 31st. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $12.00.
Shares of MDC Partners Inc. (NASDAQ MDCA) opened at $10.75 on Friday. The company has a debt-to-equity ratio of -1.94, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market cap of $627.37, a P/E ratio of 19.55, a P/E/G ratio of 4.27 and a beta of 1.47. MDC Partners Inc. has a 12-month low of $5.70 and a 12-month high of $12.26.
MDC Partners (NASDAQ:MDCA) last released its earnings results on Monday, October 30th. The business services provider reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.12. MDC Partners had a net margin of 1.79% and a negative return on equity of 7.92%. The company had revenue of $375.80 million during the quarter, compared to the consensus estimate of $372.08 million. During the same quarter in the prior year, the firm earned ($0.62) EPS. The company’s revenue was up 7.6% compared to the same quarter last year. research analysts forecast that MDC Partners Inc. will post 0.42 earnings per share for the current year.
MDC Partners 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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