Royal Bank Of Canada assumed coverage on shares of MDC Partners Inc. (NASDAQ:MDCA) in a report published on Friday morning. The brokerage issued a sector perform rating and a $12.00 target price on the stock.
Several other brokerages have also commented on MDCA. Albert Fried & Company upgraded MDC Partners from an underweight rating to an overweight rating in a research report on Friday, July 29th. Telsey Advisory Group lowered MDC Partners from an outperform rating to a market perform rating and cut their target price for the company from $28.50 to $22.00 in a research report on Friday, July 29th. Wedbush cut their target price on MDC Partners from $26.00 to $23.00 and set an outperform rating on the stock in a research report on Friday, July 29th. Jefferies Group lowered MDC Partners from a buy rating to a hold rating and cut their target price for the company from $24.00 to $17.00 in a research report on Friday, July 29th. Finally, Zacks Investment Research upgraded MDC Partners from a hold rating to a buy rating and set a $20.00 target price on the stock in a research report on Thursday, July 28th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $20.00.
MDC Partners (NASDAQ:MDCA) traded up 2.46% on Friday, hitting $10.82. The company’s stock had a trading volume of 154,512 shares. The firm has a 50 day moving average of $11.80 and a 200-day moving average of $16.79. The stock’s market cap is $578.71 million. MDC Partners has a 12 month low of $10.32 and a 12 month high of $23.90.
MDC Partners (NASDAQ:MDCA) last announced its earnings results on Thursday, July 28th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.15 by $0.13. The company earned $337.05 million during the quarter, compared to the consensus estimate of $346.02 million. During the same quarter last year, the firm posted $0.59 EPS. MDC Partners’s quarterly revenue was up .1% compared to the same quarter last year. On average, analysts expect that MDC Partners will post $0.89 earnings per share for the current fiscal year.
In related news, CEO Scott L. Kauffman bought 10,000 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were bought at an average price of $13.86 per share, for a total transaction of $138,600.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Falcon Point Capital LLC raised its position in 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 in the last quarter. Bayesian Capital Management LP bought a new position in MDC Partners during the first quarter worth $229,000. Stoneridge Investment Partners LLC bought a new position in MDC Partners during the second quarter worth $2,718,000. Swiss National Bank bought a new position in MDC Partners during the second quarter worth $1,432,000. Finally, Macquarie Group Ltd. bought a new position in MDC Partners during the second quarter worth $915,000.
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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