PDT Partners LLC Has $1.92 Million Stake in MDC Partners Inc. (MDCA)
PDT Partners LLC lifted its stake in shares of MDC Partners Inc. (NASDAQ:MDCA) by 18.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 194,100 shares of the business services provider’s stock after buying an additional 30,535 shares during the quarter. PDT Partners LLC owned approximately 0.34% of MDC Partners worth $1,922,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Nationwide Fund Advisors increased its stake in shares of MDC Partners by 3.5% during 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 period. Bank of New York Mellon Corp raised its holdings in MDC Partners by 8.5% in the first quarter. Bank of New York Mellon Corp now owns 317,237 shares of the business services provider’s stock valued at $2,983,000 after acquiring an additional 24,894 shares in the last quarter. Swiss National Bank raised its holdings in MDC Partners by 12.4% in the first quarter. Swiss National Bank now owns 88,000 shares of the business services provider’s stock valued at $827,000 after acquiring an additional 9,700 shares in the last quarter. Karp Capital Management Corp purchased a new position in MDC Partners in the first quarter worth approximately $101,000. Finally, Stifel Financial Corp lifted its stake in MDC Partners by 3.8% in the first quarter. Stifel Financial Corp now owns 13,895 shares of the business services provider’s stock worth $131,000 after acquiring an additional 515 shares during the last quarter. 83.69% of the stock is owned by institutional investors and hedge funds.
MDCA has been the subject of several analyst reports. Royal Bank Of Canada reiterated a “sector perform” rating and set a $12.00 price target (up previously from $10.00) on shares of MDC Partners in a report on Tuesday, August 8th. BidaskClub downgraded shares of MDC Partners from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. Jefferies Group LLC restated a “buy” rating on shares of MDC Partners in a report on Thursday, September 21st. BMO Capital Markets restated a “buy” rating and issued a $15.00 price objective on shares of MDC Partners in a report on Wednesday, September 13th. Finally, Zacks Investment Research raised shares of MDC Partners from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 29th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $12.14.
MDC Partners Inc. (MDCA) opened at 11.00 on Wednesday. The firm’s market capitalization is $642.84 million. The company has a 50-day moving average price of $10.08 and a 200-day moving average price of $9.36. MDC Partners Inc. has a one year low of $2.75 and a one year high of $11.43.
MDC Partners (NASDAQ:MDCA) last announced its earnings results on Monday, August 7th. The business services provider reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.02). MDC Partners had a negative return on equity of 5.72% and a negative net margin of 1.70%. The business had revenue of $390.53 million for the quarter, compared to analysts’ expectations of $368.74 million. During the same period in the previous year, the firm posted $0.02 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. On average, equities research analysts anticipate that MDC Partners Inc. will post $0.31 EPS for the current year.
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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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