MDC Partners Inc. (MDCA) Lifted to “Hold” at Zacks Investment Research
MDC Partners Inc. (NASDAQ:MDCA) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “MDC Partners Inc. is a marketing communications firm providing marketing communication and consulting services throughout the United States, Canada, and the United Kingdom. Its services includes advertising and media, interactive marketing, direct marketing, public relations, corporate communications, market research, corporate identity and branding, and sales promotion. The Company also provides mobile marketing, and database and customer relationship management services. MDC Corporation Inc. is headquartered in Toronto, Canada. “
Other analysts also recently issued research reports about the stock. BMO Capital Markets restated a “buy” rating and set a $26.00 price target on shares of MDC Partners in a report on Wednesday, July 6th. Albert Fried & Company restated a “buy” rating and set a $23.00 price target on shares of MDC Partners in a report on Sunday, July 3rd. Jefferies Group restated a “hold” rating on shares of MDC Partners in a report on Monday, August 29th. Telsey Advisory Group downgraded shares of MDC Partners from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $28.50 to $22.00 in a report on Friday, July 29th. Finally, Wedbush dropped their target price on shares of MDC Partners from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Friday, July 29th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $22.38.
Shares of MDC Partners (NASDAQ:MDCA) opened at 10.87 on Thursday. MDC Partners has a 12-month low of $10.62 and a 12-month high of $23.90. The firm has a 50 day moving average price of $12.32 and a 200-day moving average price of $17.35. The company’s market cap is $581.38 million.
MDC Partners (NASDAQ:MDCA) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.13. The firm had revenue of $337.05 million for the quarter, compared to analyst estimates of $346.02 million. MDC Partners’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the company earned $0.59 EPS. On average, equities analysts expect that MDC Partners will post $0.89 earnings per share for the current fiscal year.
In other MDC Partners news, CEO Scott L. Kauffman purchased 5,000 shares of the company’s stock in a transaction on Monday, August 29th. The stock was acquired at an average price of $12.19 per share, for a total transaction of $60,950.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. Emerald Acquisition Ltd. acquired a new position in MDC Partners during the second quarter valued at approximately $27,005,000. Chartwell Investment Partners LLC increased its position in MDC Partners by 19.1% in the second quarter. Chartwell Investment Partners LLC now owns 3,351,875 shares of the company’s stock valued at $61,306,000 after buying an additional 538,633 shares during the period. Columbus Circle Investors increased its position in MDC Partners by 36.8% in the second quarter. Columbus Circle Investors now owns 1,393,146 shares of the company’s stock valued at $25,481,000 after buying an additional 374,858 shares during the period. Adage Capital Partners GP L.L.C. increased its position in MDC Partners by 55.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,012,330 shares of the company’s stock valued at $18,516,000 after buying an additional 362,330 shares during the period. Finally, Elk Creek Partners LLC increased its position in MDC Partners by 24.9% in the second quarter. Elk Creek Partners LLC now owns 1,731,412 shares of the company’s stock valued at $31,668,000 after buying an additional 345,365 shares during the period.
About MDC Partners
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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