Stonebridge Capital Management Inc. reduced its position in shares of MDC Partners Inc. (NASDAQ:MDCA) by 43.3% during the second quarter, Holdings Channel reports. The fund owned 11,230 shares of the company’s stock after selling 8,565 shares during the period. Stonebridge Capital Management Inc.’s holdings in MDC Partners were worth $206,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in MDCA. Falcon Point Capital LLC boosted its position in shares of MDC Partners by 7.7% in the second quarter. Falcon Point Capital LLC now owns 1,343,569 shares of the company’s stock worth $24,574,000 after buying an additional 95,656 shares during the period. Bayesian Capital Management LP acquired a new position in shares of MDC Partners during the first quarter worth $229,000. Stoneridge Investment Partners LLC acquired a new position in shares of MDC Partners during the second quarter worth $2,718,000. Prudential Financial Inc. acquired a new position in shares of MDC Partners during the first quarter worth $364,000. Finally, A.R.T. Advisors LLC acquired a new position in shares of MDC Partners during the first quarter worth $1,784,000.
MDC Partners Inc. (NASDAQ:MDCA) traded down 3.68% during mid-day trading on Thursday, reaching $10.47. 1,987,589 shares of the company traded hands. The stock has a 50 day moving average price of $12.32 and a 200-day moving average price of $17.35. MDC Partners Inc. has a 52-week low of $10.44 and a 52-week high of $23.90. The company’s market capitalization is $559.99 million.
MDC Partners (NASDAQ:MDCA) last issued its earnings results on Thursday, July 28th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by $0.13. The firm earned $337.05 million during the quarter, compared to the consensus estimate of $346.02 million. MDC Partners’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 EPS. Analysts expect that MDC Partners Inc. will post $0.89 EPS for the current fiscal year.
A number of brokerages have weighed in on MDCA. Albert Fried & Company reaffirmed a “buy” rating and set a $17.00 price target on shares of MDC Partners in a research report on Thursday, September 8th. Zacks Investment Research raised shares of MDC Partners from a “strong sell” rating to a “hold” rating in a research report on Thursday. Telsey Advisory Group cut 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. BMO Capital Markets reissued a “buy” rating and set a $26.00 target price on shares of MDC Partners in a research report on Wednesday, July 6th. Finally, Wedbush reduced their target price on shares of MDC Partners from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, July 29th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. MDC Partners currently has a consensus rating of “Buy” and a consensus target price of $22.38.
In other news, CEO Scott L. Kauffman acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The shares were purchased at an average price of $13.27 per share, for a total transaction of $132,700.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is owned by corporate insiders.
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.
Want to see what other hedge funds are holding MDCA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MDC Partners Inc. (NASDAQ:MDCA).
Receive News & Ratings for MDC Partners Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MDC Partners Inc. and related companies with MarketBeat.com's FREE daily email newsletter.