Stifel Financial Corp raised its position in shares of MDC Partners Inc. (NASDAQ:MDCA) by 3.8% during the first quarter, Holdings Channel reports. The fund owned 13,895 shares of the business services provider’s stock after buying an additional 515 shares during the period. Stifel Financial Corp’s holdings in MDC Partners were worth $131,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Nationwide Fund Advisors increased its stake in shares of MDC Partners by 3.5% in the first quarter. Nationwide Fund Advisors now owns 32,684 shares of the business services provider’s stock worth $307,000 after buying an additional 1,093 shares during the last quarter. Stonebridge Capital Management Inc. increased its stake in shares of MDC Partners by 8.9% in the first quarter. Stonebridge Capital Management Inc. now owns 27,486 shares of the business services provider’s stock worth $258,000 after buying an additional 2,250 shares during the last quarter. Swiss National Bank increased its stake in shares of MDC Partners by 12.4% in the first quarter. Swiss National Bank now owns 88,000 shares of the business services provider’s stock worth $827,000 after buying an additional 9,700 shares during the last quarter. GSA Capital Partners LLP increased its stake in shares of MDC Partners by 19.5% in the fourth quarter. GSA Capital Partners LLP now owns 60,727 shares of the business services provider’s stock worth $398,000 after buying an additional 9,922 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new stake in shares of MDC Partners during the first quarter worth approximately $101,000. 86.16% of the stock is owned by institutional investors.
MDC Partners Inc. (NASDAQ MDCA) opened at 9.65 on Monday. The firm’s 50-day moving average price is $8.54 and its 200 day moving average price is $8.05. MDC Partners Inc. has a one year low of $2.75 and a one year high of $18.64. The company’s market capitalization is $549.48 million.
MDC Partners (NASDAQ:MDCA) last announced its earnings results on Thursday, April 27th. The business services provider reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by $0.29. The company had revenue of $344.70 million for the quarter, compared to analysts’ expectations of $335.32 million. MDC Partners had a negative net margin of 2.48% and a negative return on equity of 3.65%. MDC Partners’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.47) earnings per share. On average, equities research analysts expect that MDC Partners Inc. will post $0.28 earnings per share for the current fiscal year.
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A number of brokerages recently commented on MDCA. Royal Bank of Canada reaffirmed a “hold” rating on shares of MDC Partners in a research report on Thursday. Jefferies Group LLC increased their price target on MDC Partners to $12.00 and gave the company a “buy” rating in a research report on Monday, June 5th. Wells Fargo & Company reaffirmed a “hold” rating on shares of MDC Partners in a research report on Friday, April 28th. BMO Capital Markets reaffirmed a “buy” rating and set a $15.00 price target on shares of MDC Partners in a research report on Monday, April 17th. Finally, Zacks Investment Research downgraded MDC Partners from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 3rd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. MDC Partners has an average rating of “Hold” and an average price target of $13.00.
About MDC Partners
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.
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