Wells Fargo & Company MN lessened its stake in MDC Partners Inc (NASDAQ:MDCA) by 2.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,074,708 shares of the business services provider’s stock after selling 57,925 shares during the quarter. Wells Fargo & Company MN’s holdings in MDC Partners were worth $20,228,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in MDC Partners in the 3rd quarter worth $112,000. Oppenheimer Asset Management Inc. increased its holdings in MDC Partners by 185.1% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 10,873 shares of the business services provider’s stock worth $120,000 after acquiring an additional 7,059 shares in the last quarter. CAPROCK Group Inc. purchased a new stake in MDC Partners in the 4th quarter worth $135,000. Jane Street Group LLC purchased a new stake in MDC Partners in the 3rd quarter worth $158,000. Finally, Stonebridge Capital Management Inc. increased its holdings in MDC Partners by 53.5% in the 4th quarter. Stonebridge Capital Management Inc. now owns 17,225 shares of the business services provider’s stock worth $162,000 after acquiring an additional 6,000 shares in the last quarter. 86.08% of the stock is owned by institutional investors.
Shares of MDC Partners Inc (NASDAQ MDCA) opened at $7.45 on Friday. MDC Partners Inc has a one year low of $6.80 and a one year high of $12.26. The company has a current ratio of 0.70, a quick ratio of 0.71 and a debt-to-equity ratio of -3.59. The stock has a market cap of $435.34, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 2.05 and a beta of 1.33.
Several equities research analysts have issued reports on MDCA shares. Zacks Investment Research raised shares of MDC Partners from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Tuesday, January 2nd. BMO Capital Markets reaffirmed a “buy” rating on shares of MDC Partners in a research note on Friday, February 23rd. Royal Bank of Canada set a $12.00 target price on shares of MDC Partners and gave the stock a “hold” rating in a research note on Friday, February 23rd. Wells Fargo & Co reaffirmed a “hold” rating on shares of MDC Partners in a research note on Friday, February 23rd. Finally, BidaskClub cut shares of MDC Partners from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $12.40.
MDC Partners Profile
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.
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MDC Partners and related companies with MarketBeat.com's FREE daily email newsletter.