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.
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