MDC Partners Inc. (NASDAQ:MDCA) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “MDC Partners Inc. is a marketing communications firm providing marketing communication and consulting services throughout the United States, Canada, and the United Kingdom. Its services includes advertising and media, interactive marketing, direct marketing, public relations, corporate communications, market research, corporate identity and branding, and sales promotion. The Company also provides mobile marketing, and database and customer relationship management services. MDC Corporation Inc. is headquartered in Toronto, Canada. “
Several other equities research analysts have also recently issued reports on MDCA. Albert Fried & Company cut MDC Partners from an “overweight” rating to an “underweight” rating and reduced their target price for the stock from $23.00 to $17.00 in a report on Monday, August 1st. Telsey Advisory Group cut 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 report on Friday, July 29th. BMO Capital Markets reaffirmed a “buy” rating and issued a $26.00 target price on shares of MDC Partners in a report on Wednesday, July 6th. Jefferies Group cut MDC Partners from a “buy” rating to a “hold” rating and reduced their target price for the stock from $24.00 to $17.00 in a report on Friday, July 29th. Finally, Wedbush dropped their price target on MDC Partners from $26.00 to $23.00 and set an “outperform” rating for the company 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. The stock currently has an average rating of “Buy” and a consensus price target of $22.00.
MDC Partners (NASDAQ:MDCA) opened at 10.72 on Thursday. The firm’s 50-day moving average price is $12.18 and its 200-day moving average price is $17.22. The company’s market cap is $573.36 million. MDC Partners has a 52-week low of $10.42 and a 52-week high of $23.90.
MDC Partners (NASDAQ:MDCA) last issued its earnings results on Thursday, July 28th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.13. The firm earned $337.05 million during the quarter, compared to analysts’ expectations of $346.02 million. During the same quarter last year, the business earned $0.59 earnings per share. The company’s revenue was up .1% on a year-over-year basis. On average, equities analysts anticipate that MDC Partners will post $0.89 EPS for the current year.
In other MDC Partners news, CEO Scott L. Kauffman bought 5,000 shares of the company’s stock in a transaction on Monday, August 29th. The stock was acquired at an average price of $12.19 per share, for a total transaction of $60,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.00% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Macquarie Group Ltd. acquired a new position in shares of MDC Partners during the second quarter valued at about $915,000. Sterling Capital Management LLC acquired a new position in shares of MDC Partners during the second quarter valued at about $570,000. Schwab Charles Investment Management Inc. raised its position in shares of MDC Partners by 21.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 78,880 shares of the company’s stock valued at $1,443,000 after buying an additional 13,800 shares during the period. Legal & General Group Plc raised 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 valued at $124,000 after buying an additional 959 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised its position in shares of MDC Partners by 22.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 37,583 shares of the company’s stock valued at $687,000 after buying an additional 6,997 shares during the period.
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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