MDC Partners Inc. (NASDAQ:MDCA) Position Boosted by Rice Hall James & Associates LLC
Rice Hall James & Associates LLC raised its stake in shares of MDC Partners Inc. (NASDAQ:MDCA) by 25.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 706,714 shares of the business services provider’s stock after buying an additional 142,503 shares during the period. Rice Hall James & Associates LLC’s holdings in MDC Partners were worth $6,996,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in MDCA. Stifel Financial Corp raised its position in shares of MDC Partners by 3.8% in the first quarter. Stifel Financial Corp now owns 13,895 shares of the business services provider’s stock valued at $131,000 after buying an additional 515 shares in the last quarter. 1st Global Advisors Inc. acquired a new position in shares of MDC Partners during the first quarter valued at $119,000. Parkwood LLC acquired a new position in shares of MDC Partners during the first quarter valued at $126,000. Karp Capital Management Corp acquired a new position in shares of MDC Partners during the first quarter valued at $101,000. Finally, Swiss National Bank raised its position in shares of MDC Partners by 12.4% in the first quarter. Swiss National Bank now owns 88,000 shares of the business services provider’s stock valued at $827,000 after buying an additional 9,700 shares in the last quarter. Hedge funds and other institutional investors own 86.27% of the company’s stock.
Shares of MDC Partners Inc. (NASDAQ:MDCA) opened at 10.70 on Friday. The firm’s 50-day moving average price is $9.98 and its 200 day moving average price is $8.78. MDC Partners Inc. has a 1-year low of $2.75 and a 1-year high of $13.97. The stock’s market capitalization is $592.05 million.
MDC Partners (NASDAQ:MDCA) last issued its earnings results on Monday, August 7th. The business services provider reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.02. MDC Partners had a negative net margin of 1.70% and a negative return on equity of 5.66%. The company had revenue of $390.53 million during the quarter, compared to analysts’ expectations of $368.74 million. During the same period last year, the business posted $0.02 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. Equities research analysts expect that MDC Partners Inc. will post $0.28 earnings per share for the current fiscal year.
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Several equities research analysts have commented on MDCA shares. Zacks Investment Research upgraded MDC Partners from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 29th. Wells Fargo & Company reiterated a “hold” rating on shares of MDC Partners in a research note on Friday, April 28th. BMO Capital Markets reiterated a “buy” rating and set a $15.00 price objective on shares of MDC Partners in a research note on Monday, April 17th. BidaskClub lowered MDC Partners from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Finally, Royal Bank Of Canada set a $10.00 price objective on MDC Partners and gave the stock a “hold” rating in a research note on Friday, June 2nd. Five analysts have rated the stock with 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 target price of $12.14.
About MDC Partners
MDC Partners Inc is a provider of global marketing, advertising, activation, communications and strategic consulting solutions. The Company and its subsidiary agencies (Partner Firms) deliver a range of customized services. The Company’s segments include Reportable Segment, All Other and Corporate. The Reportable segment consists of the Company’s integrated advertising, media and public relations service companies.
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