MDC Partners’ (MDCA) “Outperform” Rating Reaffirmed at Wedbush
A number of other analysts have also weighed in on MDCA. Albert Fried & Company lowered shares of MDC Partners from an overweight rating to an underweight rating and reduced their price objective for the stock from $23.00 to $17.00 in a research report on Monday, August 1st. Telsey Advisory Group lowered shares of MDC Partners from an outperform rating to a market perform rating and reduced their target price for the stock from $28.50 to $22.00 in a research report on Friday, July 29th. Zacks Investment Research raised shares of MDC Partners from a strong sell rating to a hold rating in a research report on Thursday. BMO Capital Markets reaffirmed a buy rating and set a $26.00 target price on shares of MDC Partners in a research report on Wednesday, July 6th. Finally, Jefferies Group lowered shares of MDC Partners from a buy rating to a hold rating and reduced their target price for the stock from $24.00 to $17.00 in a research report on Friday, July 29th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $22.00.
Shares of MDC Partners (NASDAQ:MDCA) traded down 1.03% during midday trading on Friday, hitting $10.61. The company had a trading volume of 158,965 shares. The company’s market capitalization is $567.48 million. The firm’s 50 day moving average is $12.18 and its 200 day moving average is $17.22. MDC Partners has a 52 week low of $10.32 and a 52 week high of $23.90.
MDC Partners (NASDAQ:MDCA) last posted 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 company had revenue of $337.05 million for the quarter, compared to the consensus estimate of $346.02 million. During the same quarter in the prior year, the business earned $0.59 earnings per share. MDC Partners’s revenue for the quarter was up .1% compared to the same quarter last year. Equities research analysts anticipate that MDC Partners will post $0.89 EPS for the current year.
In other MDC Partners news, CEO Scott L. Kauffman acquired 10,000 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were purchased at an average cost of $13.27 per share, for a total transaction of $132,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Palo Capital Inc. acquired a new position in MDC Partners during the second quarter worth about $718,000. Eagle Asset Management Inc. increased its stake in shares of MDC Partners by 30.3% in the second quarter. Eagle Asset Management Inc. now owns 305,334 shares of the company’s stock valued at $5,584,000 after buying an additional 70,963 shares during the period. Independent Portfolio Consultants Inc. increased its stake in shares of MDC Partners by 9.3% in the second quarter. Independent Portfolio Consultants Inc. now owns 9,215 shares of the company’s stock valued at $169,000 after buying an additional 785 shares during the period. Omega Advisors Inc. purchased a new stake in shares of MDC Partners during the first quarter valued at $1,170,000. Finally, A.R.T. Advisors LLC purchased a new stake in shares of MDC Partners during the first quarter valued at $1,784,000.
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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