Stoneridge Investment Partners LLC Has $240,000 Stake in MDC Partners Inc. (MDCA)
Stoneridge Investment Partners LLC decreased its stake in MDC Partners Inc. (NASDAQ:MDCA) by 65.4% during the second quarter, Holdings Channel reports. The firm owned 24,222 shares of the business services provider’s stock after selling 45,727 shares during the period. Stoneridge Investment Partners LLC’s holdings in MDC Partners were worth $240,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the company. Karp Capital Management Corp acquired a new stake in shares of MDC Partners during the first quarter valued at approximately $101,000. 1st Global Advisors Inc. acquired a new stake in shares of MDC Partners during the first quarter valued at approximately $119,000. Parkwood LLC acquired a new stake in shares of MDC Partners during the first quarter valued at approximately $126,000. Stifel Financial Corp boosted its stake in shares of MDC Partners by 3.8% in the first quarter. Stifel Financial Corp now owns 13,895 shares of the business services provider’s stock valued at $131,000 after buying an additional 515 shares during the period. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in shares of MDC Partners during the second quarter valued at approximately $136,000. 86.27% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MDC Partners Inc. (NASDAQ:MDCA) opened at 10.70 on Friday. The company’s market capitalization is $592.05 million. MDC Partners Inc. has a one year low of $2.75 and a one year high of $13.97. The stock has a 50 day moving average of $9.98 and a 200-day moving average of $8.78.
MDC Partners (NASDAQ:MDCA) last released its quarterly earnings results on Monday, August 7th. The business services provider reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by $0.02. MDC Partners had a negative return on equity of 5.66% and a negative net margin of 1.70%. The firm had revenue of $390.53 million for the quarter, compared to analysts’ expectations of $368.74 million. During the same quarter last year, the firm posted $0.02 earnings per share. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, equities analysts forecast that MDC Partners Inc. will post $0.28 earnings per share for the current fiscal year.
Several equities research analysts have commented on the stock. Royal Bank Of Canada reissued a “sector perform” rating and set a $12.00 price target (up from $10.00) on shares of MDC Partners in a research report on Tuesday, August 8th. BidaskClub cut shares of MDC Partners from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research cut shares of MDC Partners from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 3rd. Wells Fargo & Company reissued a “hold” rating on shares of MDC Partners in a research report on Friday, April 28th. Finally, Jefferies Group LLC boosted their price target on shares of MDC Partners to $12.00 and gave the stock a “buy” rating in a research report on Monday, June 5th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. MDC Partners presently has a consensus rating of “Hold” and an average price target of $12.14.
MDC Partners Company 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.
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