A.R.T. Advisors LLC bought a new position in MDC Partners Inc (NASDAQ:MDCA) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm bought 35,862 shares of the company’s stock, valued at approximately $234,000. A.R.T. Advisors LLC owned 0.07% of MDC Partners at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Independent Portfolio Consultants Inc. raised its position in MDC Partners by 23.3% in the third quarter. Independent Portfolio Consultants Inc. now owns 11,360 shares of the company’s stock worth $122,000 after buying an additional 2,145 shares in the last quarter. Stoneridge Investment Partners LLC raised its position in MDC Partners by 2.1% in the third quarter. Stoneridge Investment Partners LLC now owns 151,720 shares of the company’s stock worth $1,626,000 after buying an additional 3,141 shares in the last quarter. Sei Investments Co. raised its position in MDC Partners by 69.4% in the third quarter. Sei Investments Co. now owns 13,282 shares of the company’s stock worth $142,000 after buying an additional 5,441 shares in the last quarter. Stonebridge Capital Management Inc. raised its position in MDC Partners by 192.0% in the third quarter. Stonebridge Capital Management Inc. now owns 32,796 shares of the company’s stock worth $352,000 after buying an additional 21,566 shares in the last quarter. Finally, Rice Hall James & Associates LLC raised its position in MDC Partners by 6.2% in the third quarter. Rice Hall James & Associates LLC now owns 583,103 shares of the company’s stock worth $6,251,000 after buying an additional 33,998 shares in the last quarter.
MDC Partners Inc (NASDAQ:MDCA) opened at 8.80 on Tuesday. The stock’s 50 day moving average is $8.02 and its 200 day moving average is $8.20. MDC Partners Inc has a 12-month low of $2.75 and a 12-month high of $23.90. The company’s market cap is $486.71 million.
MDC Partners (NASDAQ:MDCA) last issued its quarterly earnings data on Monday, February 27th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.06. The company had revenue of $390.40 million for the quarter, compared to the consensus estimate of $376.32 million. During the same period in the prior year, the company earned ($0.52) EPS. The firm’s revenue was up 8.7% on a year-over-year basis. On average, equities analysts forecast that MDC Partners Inc will post $0.47 earnings per share for the current year.
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A number of research analysts have weighed in on the stock. Jefferies Group LLC reissued a “buy” rating and set a $12.00 target price on shares of MDC Partners in a research report on Tuesday. Albert Fried & Company reissued a “hold” rating on shares of MDC Partners in a research report on Wednesday, January 11th. Zacks Investment Research raised shares of MDC Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, February 28th. Wedbush boosted their target price on shares of MDC Partners from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, February 17th. Finally, BMO Capital Markets raised shares of MDC Partners from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $7.00 to $13.00 in a research report on Friday, February 17th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $14.75.
In related news, insider David Corwin Ross acquired 5,000 shares of the stock in a transaction dated Wednesday, March 1st. The stock was bought at an average price of $8.65 per share, with a total value of $43,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is owned by corporate insiders.
About MDC Partners
MDC Partners Inc is a provider of marketing, advertising, activation, communications and strategic consulting solutions. The Company’s segment is Advertising and Communications. It operates through a network of Partner Firms. The Advertising and Communications segment consists of integrated marketing consulting services to Partner Firms that offers advertising, marketing, media, communications solutions, and specialized consumer insights and analytics, including global advertising and marketing services; media buying, planning and optimization; interactive and mobile marketing; direct marketing; public relations; corporate communications; market research; corporate identity and branding services; sales promotion; the design, development, research and implementation of consumer services, and direct marketing services.
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