MDC Partners Inc. (MDCA) Receives Consensus Recommendation of “Hold” from Analysts
Shares of MDC Partners Inc. (NASDAQ:MDCA) have earned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the stock. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $13.28.
Several analysts have recently issued reports on the company. Telsey Advisory Group upgraded MDC Partners from a “market perform” rating to an “outperform” rating and set a $18.00 price target for the company in a research note on Tuesday, November 1st. Albert Fried & Company downgraded MDC Partners from an “overweight” rating to an “underweight” rating and decreased their price target for the stock from $23.00 to $17.00 in a research note on Monday, August 1st. RBC Capital Markets assumed coverage on MDC Partners in a research note on Thursday, October 6th. They set a “sector perform” rating and a $12.00 price target for the company. Zacks Investment Research upgraded MDC Partners from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 29th. Finally, Royal Bank Of Canada started coverage on MDC Partners in a research note on Friday, October 7th. They set a “sector perform” rating and a $12.00 target price for the company.
Shares of MDC Partners (NASDAQ:MDCA) traded down 1.250% during midday trading on Monday, hitting $5.925. The stock had a trading volume of 255,173 shares. The firm has a 50-day moving average of $7.75 and a 200 day moving average of $13.32. The firm’s market cap is $320.34 million. MDC Partners has a 12-month low of $2.75 and a 12-month high of $23.90.
In other news, CEO Scott L. Kauffman purchased 25,000 shares of the business’s stock in a transaction on Friday, November 4th. The stock was purchased at an average price of $2.92 per share, with a total value of $73,000.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mitchell Gendel purchased 10,000 shares of the business’s stock in a transaction on Friday, November 4th. The stock was purchased at an average cost of $3.10 per share, with a total value of $31,000.00. The disclosure for this purchase can be found here. 2.00% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Quantbot Technologies LP bought a new position in shares of MDC Partners during the second quarter worth about $112,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of MDC Partners during the second quarter worth about $114,000. Independent Portfolio Consultants Inc. boosted its position in shares of MDC Partners by 23.3% in the third quarter. Independent Portfolio Consultants Inc. now owns 11,360 shares of the company’s stock worth $122,000 after buying an additional 2,145 shares during the last quarter. Legal & General Group Plc boosted 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 worth $124,000 after buying an additional 959 shares during the last quarter. Finally, US Bancorp DE boosted 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 worth $125,000 after buying an additional 973 shares during the last quarter.
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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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