MDC Partners Inc. to Post FY2016 Earnings of ($0.86) Per Share, Jefferies Group Forecasts (MDCA)
MDC Partners Inc. (NASDAQ:MDCA) – Research analysts at Jefferies Group cut their FY2016 earnings per share (EPS) estimates for MDC Partners in a research note issued on Thursday. Jefferies Group analyst J. Janedis now expects that the firm will post earnings of ($0.86) per share for the year, down from their previous forecast of ($0.85). Jefferies Group has a “Hold” rating and a $3.50 price objective on the stock.
A number of other research firms have also weighed in on MDCA. Wells Fargo & Co. lowered shares of MDC Partners from an “outperform” rating to a “market perform” rating in a research note on Friday, November 4th. Telsey Advisory Group upgraded shares of MDC Partners from a “market perform” rating to an “outperform” rating and set a $18.00 price objective for the company in a research note on Tuesday, November 1st. Wedbush restated an “outperform” rating and set a $20.00 price objective on shares of MDC Partners in a research note on Friday, September 30th. Zacks Investment Research upgraded shares of MDC Partners from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Thursday, July 28th. Finally, Albert Fried & Company upgraded shares of MDC Partners from a “market perform” rating to an “overweight” rating in a research note on Friday, November 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $13.95.
Shares of MDC Partners (NASDAQ:MDCA) opened at 5.50 on Monday. The company’s market cap is $297.36 million. MDC Partners has a 52-week low of $2.75 and a 52-week high of $23.90. The stock has a 50 day moving average of $8.75 and a 200 day moving average of $13.90.
Several institutional investors have recently bought and sold shares of the company. Credit Suisse AG increased its position in MDC Partners by 227.6% in the third quarter. Credit Suisse AG now owns 142,297 shares of the company’s stock worth $1,525,000 after buying an additional 98,865 shares during the last quarter. Verition Fund Management LLC acquired a new position in MDC Partners during the third quarter worth about $210,000. Chartwell Investment Partners LLC increased its position in MDC Partners by 15.2% in the third quarter. Chartwell Investment Partners LLC now owns 3,862,530 shares of the company’s stock worth $41,406,000 after buying an additional 510,655 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new position in MDC Partners during the third quarter worth about $702,000. Finally, The Manufacturers Life Insurance Company acquired a new position in MDC Partners during the third quarter worth about $362,000.
In other MDC Partners news, CEO Scott L. Kauffman acquired 25,000 shares of the company’s stock in a transaction that occurred on Friday, November 4th. The shares were bought at an average price of $2.92 per share, with a total value of $73,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mitchell Gendel acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 4th. The stock was acquired at an average cost of $3.10 per share, for a total transaction of $31,000.00. The disclosure for this purchase can be found here. 2.00% of the stock is currently owned by corporate insiders.
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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