MDC Partners Inc (MDCA) Hits New 12-Month High at $11.60

Shares of MDC Partners Inc (NASDAQ:MDCA) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $11.60 and last traded at $11.60, with a volume of 276,834 shares changing hands. The stock had previously closed at $11.30.

Several brokerages have recently issued reports on MDCA. Royal Bank Of Canada restated a “sector perform” rating and set a $12.00 target price (up from $10.00) on shares of MDC Partners in a research report on Tuesday, August 8th. BidaskClub lowered shares of MDC Partners from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. BMO Capital Markets reissued a “buy” rating and issued a $15.00 price objective on shares of MDC Partners in a research report on Wednesday, September 13th. Zacks Investment Research lowered shares of MDC Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Jefferies Group LLC reissued a “buy” rating on shares of MDC Partners in a research report on Thursday, September 21st. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $12.14.

The stock’s market cap is $677.90 million. The firm has a 50 day moving average price of $10.30 and a 200-day moving average price of $9.48.

MDC Partners (NASDAQ:MDCA) last posted its earnings results on Monday, August 7th. The business services provider reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). The business had revenue of $390.53 million for the quarter, compared to the consensus estimate of $368.74 million. MDC Partners’s revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.02 EPS. On average, equities research analysts predict that MDC Partners Inc will post $0.35 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of MDCA. Penn Capital Management Co. Inc. boosted its holdings in MDC Partners by 191.3% in the 2nd quarter. Penn Capital Management Co. Inc. now owns 698,005 shares of the business services provider’s stock valued at $6,916,000 after purchasing an additional 458,350 shares during the last quarter. Redwood Capital Management LLC boosted its holdings in MDC Partners by 110.9% in the 2nd quarter. Redwood Capital Management LLC now owns 853,970 shares of the business services provider’s stock valued at $8,454,000 after purchasing an additional 449,030 shares during the last quarter. FMR LLC boosted its holdings in MDC Partners by 5.3% in the 1st quarter. FMR LLC now owns 8,291,115 shares of the business services provider’s stock valued at $77,936,000 after purchasing an additional 416,974 shares during the last quarter. Kennedy Capital Management Inc. acquired a new position in MDC Partners in the 2nd quarter valued at about $3,374,000. Finally, Teachers Advisors LLC boosted its holdings in MDC Partners by 17.8% in the 1st quarter. Teachers Advisors LLC now owns 2,185,734 shares of the business services provider’s stock valued at $20,546,000 after purchasing an additional 330,783 shares during the last quarter. Institutional investors own 83.69% of the company’s stock.

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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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