Principal Financial Group Inc. Acquires New Position in MDC Partners Inc. (MDCA)

Principal Financial Group Inc. acquired a new stake in MDC Partners Inc. (NASDAQ:MDCA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,182 shares of the business services provider’s stock, valued at approximately $101,000.

A number of other large investors have also added to or reduced their stakes in the business. American Century Companies Inc. bought a new stake in MDC Partners in the second quarter valued at approximately $1,199,000. Bank of New York Mellon Corp raised its stake in MDC Partners by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 318,533 shares of the business services provider’s stock valued at $3,154,000 after buying an additional 1,296 shares during the period. Rubric Capital Management LP raised its stake in MDC Partners by 9.2% in the second quarter. Rubric Capital Management LP now owns 1,217,190 shares of the business services provider’s stock valued at $12,050,000 after buying an additional 102,790 shares during the period. Rhumbline Advisers raised its stake in MDC Partners by 7.9% in the second quarter. Rhumbline Advisers now owns 63,946 shares of the business services provider’s stock valued at $633,000 after buying an additional 4,695 shares during the period. Finally, Rice Hall James & Associates LLC raised its stake in MDC Partners by 25.3% in the second quarter. Rice Hall James & Associates LLC now owns 706,714 shares of the business services provider’s stock valued at $6,996,000 after buying an additional 142,503 shares during the period. Hedge funds and other institutional investors own 83.69% of the company’s stock.

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MDC Partners Inc. (MDCA) opened at 11.75 on Thursday. The firm’s market cap is $686.67 million. The stock has a 50 day moving average price of $10.43 and a 200 day moving average price of $9.52. MDC Partners Inc. has a 52-week low of $2.75 and a 52-week high of $11.95.

MDC Partners (NASDAQ:MDCA) last posted its quarterly earnings results on Monday, August 7th. The business services provider reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The company had revenue of $390.53 million during the quarter, compared to the consensus estimate of $368.74 million. MDC Partners had a negative return on equity of 5.72% and a negative net margin of 1.70%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $0.02 EPS. Equities analysts predict that MDC Partners Inc. will post $0.35 earnings per share for the current fiscal year.

Several analysts have issued reports on MDCA shares. Zacks Investment Research upgraded MDC Partners from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Tuesday, July 18th. Jefferies Group LLC restated a “buy” rating on shares of MDC Partners in a research note on Thursday, September 21st. BMO Capital Markets restated a “buy” rating and issued a $15.00 price objective on shares of MDC Partners in a research note on Wednesday. Royal Bank Of Canada restated a “hold” rating and issued a $12.00 price objective on shares of MDC Partners in a research note on Wednesday, September 13th. Finally, BidaskClub upgraded MDC Partners from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $12.14.

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.

Institutional Ownership by Quarter for MDC Partners (NASDAQ:MDCA)

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