MDC Partners (MDCA) Stock Price Down 9%

MDC Partners Inc (NASDAQ:MDCA)’s share price fell 9% during mid-day trading on Thursday . The stock traded as low as $2.83 and last traded at $2.84. 840,826 shares traded hands during trading, an increase of 79% from the average session volume of 469,778 shares. The stock had previously closed at $3.12.

A number of brokerages have recently commented on MDCA. BidaskClub cut shares of MDC Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, July 25th. ValuEngine upgraded shares of MDC Partners from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 25th. Finally, Zacks Investment Research upgraded shares of MDC Partners from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $7.63.

The stock has a market cap of $179.42 million, a P/E ratio of 4.49 and a beta of 1.21.

MDC Partners (NASDAQ:MDCA) last issued its earnings results on Monday, October 29th. The business services provider reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.15). The business had revenue of $375.83 million during the quarter, compared to analyst estimates of $373.07 million. MDC Partners had a net margin of 12.00% and a negative return on equity of 0.82%. MDC Partners’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the company earned $0.24 earnings per share.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Teton Advisors Inc. raised its position in shares of MDC Partners by 8.7% in the second quarter. Teton Advisors Inc. now owns 125,000 shares of the business services provider’s stock valued at $575,000 after buying an additional 10,000 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in MDC Partners by 41.5% during the second quarter. Oppenheimer & Co. Inc. now owns 34,240 shares of the business services provider’s stock worth $158,000 after purchasing an additional 10,050 shares during the last quarter. Sei Investments Co. increased its position in MDC Partners by 108.4% during the second quarter. Sei Investments Co. now owns 23,264 shares of the business services provider’s stock worth $107,000 after purchasing an additional 12,099 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in MDC Partners by 99.3% during the first quarter. Cubist Systematic Strategies LLC now owns 25,625 shares of the business services provider’s stock worth $185,000 after purchasing an additional 12,766 shares during the last quarter. Finally, California Public Employees Retirement System increased 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 purchasing an additional 12,912 shares during the last quarter. Institutional investors and hedge funds own 85.32% of the company’s stock.

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About MDC Partners (NASDAQ:MDCA)

MDC Partners Inc provides marketing, advertising, activation, communications, and strategic consulting solutions worldwide. It offers a range of customized services, including global advertising and marketing services; media buying, planning, and optimization; interactive and mobile marketing; direct marketing; database and customer relationship management; sales promotion; corporate communications; market research; data analytics and insights; corporate identity, design, and branding services; social media communications; product and service innovation; e-commerce management; and technology services.

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