MDC Partners Inc. (NASDAQ:MDCA)‘s stock had its “outperform” rating reissued by analysts at Wedbush in a research report issued to clients and investors on Friday. They presently have a $20.00 target price on the stock. Wedbush’s price objective would indicate a potential upside of 91.02% from the stock’s current price.
MDCA has been the subject of a number of other research reports. Zacks Investment Research upgraded MDC Partners from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Thursday, July 28th. Albert Fried & Company restated a “buy” rating and issued a $17.00 price target on shares of MDC Partners in a research report on Thursday, September 8th. Jefferies Group restated a “hold” rating on shares of MDC Partners in a research report on Monday, August 29th. Telsey Advisory Group cut MDC Partners from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $28.50 to $22.00 in a research report on Friday, July 29th. Finally, BMO Capital Markets restated a “buy” rating and issued a $26.00 price target on shares of MDC Partners in a research report on Wednesday, July 6th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. MDC Partners currently has a consensus rating of “Buy” and an average target price of $22.00.
MDC Partners (NASDAQ:MDCA) opened at 10.47 on Friday. The company’s 50 day moving average price is $12.25 and its 200-day moving average price is $17.30. The stock’s market capitalization is $559.99 million. MDC Partners has a one year low of $10.44 and a one year high of $23.90.
MDC Partners (NASDAQ:MDCA) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by $0.13. The business earned $337.05 million during the quarter, compared to analyst estimates of $346.02 million. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the firm posted $0.59 EPS. Analysts expect that MDC Partners will post $0.89 earnings per share for the current year.
In other news, CEO Scott L. Kauffman purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The stock was bought at an average cost of $13.86 per share, with a total value of $138,600.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.00% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Falcon Point Capital LLC raised 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 last quarter. Bayesian Capital Management LP purchased a new position in shares of MDC Partners during the first quarter worth approximately $229,000. Stoneridge Investment Partners LLC purchased a new position in shares of MDC Partners during the second quarter worth approximately $2,718,000. Macquarie Group Ltd. purchased a new position in shares of MDC Partners during the second quarter worth approximately $915,000. Finally, Acrospire Investment Management LLC raised its position in shares of MDC Partners by 188.8% in the second quarter. Acrospire Investment Management LLC now owns 11,626 shares of the company’s stock worth $213,000 after buying an additional 7,600 shares during the last quarter.
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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