RBC Capital Markets started coverage on shares of MDC Partners Inc. (NASDAQ:MDCA) in a report released on Thursday, The Fly reports. The brokerage set a “sector perform” rating on the stock.
A number of other equities research analysts have also weighed in on the company. Wedbush reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of MDC Partners in a report on Friday, September 30th. Zacks Investment Research raised MDC Partners from a “strong sell” rating to a “hold” rating in a report on Thursday, September 29th. Albert Fried & Company reaffirmed a “buy” rating and issued a $17.00 price objective on shares of MDC Partners in a report on Thursday, September 8th. Jefferies Group reiterated a “hold” rating on shares of MDC Partners in a research report on Monday, August 29th. Finally, Telsey Advisory Group downgraded shares of MDC Partners from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $28.50 to $22.00 in a research report on Friday, July 29th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $22.00.
MDC Partners (NASDAQ:MDCA) traded down 0.36% during mid-day trading on Thursday, reaching $11.00. The company’s stock had a trading volume of 344,772 shares. MDC Partners has a one year low of $10.32 and a one year high of $23.90. The firm’s market cap is $588.34 million. The stock’s 50 day moving average is $11.88 and its 200 day moving average is $16.88.
MDC Partners (NASDAQ:MDCA) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.13. The business earned $337.05 million during the quarter, compared to the consensus estimate of $346.02 million. During the same quarter in the previous year, the company earned $0.59 earnings per share. The company’s quarterly revenue was up .1% compared to the same quarter last year. On average, analysts anticipate that MDC Partners will post $0.89 EPS for the current year.
In related news, CEO Scott L. Kauffman acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 12th. The stock was purchased at an average cost of $13.27 per share, for a total transaction of $132,700.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of MDCA. Quantbot Technologies LP bought a new position in shares of MDC Partners during the second quarter valued at about $112,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of MDC Partners during the second quarter valued at $114,000. US Bancorp DE increased its position in shares of MDC Partners by 16.6% in the second quarter. US Bancorp DE now owns 6,848 shares of the company’s stock valued at $125,000 after buying an additional 973 shares during the period. Legal & General Group Plc increased its position in shares of MDC Partners by 16.2% in the second quarter. Legal & General Group Plc now owns 6,875 shares of the company’s stock valued at $124,000 after buying an additional 959 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in shares of MDC Partners during the second quarter valued at $127,000.
MDC Partners Company Profile
MDC Partners Inc is a provider of marketing, advertising, activation, communications and strategic consulting solutions. The Company’s segment is Advertising and Communications. It operates through a network of Partner Firms. The Advertising and Communications segment consists of integrated marketing consulting services to Partner Firms that offers advertising, marketing, media, communications solutions, and specialized consumer insights and analytics, including global advertising and marketing services; media buying, planning and optimization; interactive and mobile marketing; direct marketing; public relations; corporate communications; market research; corporate identity and branding services; sales promotion; the design, development, research and implementation of consumer services, and direct marketing services.
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