MDC Partners Inc (NASDAQ:MDCA) shares saw strong trading volume on Friday . 4,710,722 shares changed hands during mid-day trading, an increase of 1,078% from the previous session’s volume of 399,722 shares.The stock last traded at $2.29 and had previously closed at $2.03.
Several analysts have commented on the company. ValuEngine raised MDC Partners from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. BMO Capital Markets lowered MDC Partners from an “outperform” rating to a “market perform” rating and set a $2.53 price objective on the stock. in a report on Monday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. MDC Partners currently has an average rating of “Hold” and an average price target of $5.93.
MDC Partners (NASDAQ:MDCA) last issued its quarterly earnings results on Friday, March 15th. The business services provider reported ($1.48) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($1.79). The firm had revenue of $393.60 million during the quarter, compared to analyst estimates of $394.10 million. MDC Partners had a negative return on equity of 0.82% and a net margin of 12.00%. The business’s revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 earnings per share.
Several large investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its stake in shares of MDC Partners by 8.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 61,997 shares of the business services provider’s stock worth $162,000 after acquiring an additional 4,826 shares during the last quarter. Lorber David A lifted its position in MDC Partners by 12.6% during the fourth quarter. Lorber David A now owns 54,371 shares of the business services provider’s stock worth $142,000 after buying an additional 6,103 shares in the last quarter. Brown Advisory Inc. lifted its position in MDC Partners by 5.9% during the fourth quarter. Brown Advisory Inc. now owns 117,120 shares of the business services provider’s stock worth $306,000 after buying an additional 6,540 shares in the last quarter. California Public Employees Retirement System lifted its position in MDC Partners by 32.0% during the second quarter. California Public Employees Retirement System now owns 53,269 shares of the business services provider’s stock worth $245,000 after buying an additional 12,912 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its position in MDC Partners by 540.9% during the fourth quarter. Meeder Asset Management Inc. now owns 15,624 shares of the business services provider’s stock worth $40,000 after buying an additional 13,186 shares in the last quarter. 86.80% of the stock is currently owned by hedge funds and other institutional investors.
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About MDC Partners (NASDAQ:MDCA)
MDC Partners, Inc engages in the provision of marketing, advertising, activation, communications and strategic consulting solutions. It operates through the following business segments: Global Integrated Agencies, Domestic Creative Agencies, Specialist Communications, Media Services, All Other, and Corporate.
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