MDC Partners Inc. (MDCA) Hits New 1-Year Low at $11.48
MDC Partners Inc. (NASDAQ:MDCA) shares reached a new 52-week low on Tuesday . The company traded as low as $11.48 and last traded at $11.49, with a volume of 125,511 shares changing hands. The stock had previously closed at $11.75.
A number of analysts have recently issued reports on the company. Albert Fried & Company reiterated a “buy” rating and set a $23.00 price target on shares of MDC Partners in a research report on Sunday, July 3rd. Zacks Investment Research upgraded MDC Partners from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Thursday, July 28th. Jefferies Group reiterated a “hold” rating on shares of MDC Partners in a research report on Monday, August 29th. Wedbush dropped their price target on MDC Partners from $26.00 to $23.00 and set an “outperform” rating for the company in a research report on Friday, July 29th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $26.00 price target on shares of MDC Partners in a research report on Wednesday, July 6th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $22.38.
The firm has a 50 day moving average price of $12.80 and a 200-day moving average price of $17.87. The stock’s market capitalization is $613.47 million.
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MDC Partners (NASDAQ:MDCA) last posted its earnings results on Thursday, July 28th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.15 by $0.13. The company earned $337.05 million during the quarter, compared to analysts’ expectations of $346.02 million. MDC Partners’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 earnings per share. Analysts expect that MDC Partners Inc. will post $0.89 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 24th. Investors of record on Wednesday, August 10th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 7.15%. The ex-dividend date was Monday, August 8th. MDC Partners’s dividend payout ratio (DPR) is presently -73.04%.
In other MDC Partners news, CEO Scott L. Kauffman bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The shares were purchased at an average price of $13.86 per share, with a total value of $138,600.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Granite Investment Partners LLC raised its position in MDC Partners by 0.3% in the first quarter. Granite Investment Partners LLC now owns 390,917 shares of the company’s stock valued at $9,226,000 after buying an additional 1,142 shares during the period. Aperio Group LLC raised its position in shares of MDC Partners by 81.3% in the first quarter. Aperio Group LLC now owns 44,645 shares of the company’s stock valued at $1,054,000 after buying an additional 20,015 shares during the last quarter. Prudential Financial Inc. purchased a new position in shares of MDC Partners during the first quarter valued at about $364,000. American Financial Group Inc. purchased a new position in shares of MDC Partners during the first quarter valued at about $241,000. Finally, Lazard Asset Management LLC raised its position in shares of MDC Partners by 32.8% in the first quarter. Lazard Asset Management LLC now owns 1,080,691 shares of the company’s stock valued at $25,504,000 after buying an additional 266,813 shares during the last quarter.
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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