MDC Partners Inc (NASDAQ:MDCA) was the recipient of a large decline in short interest in May. As of May 15th, there was short interest totalling 2,820,075 shares, a decline of 9.6% from the April 28th total of 3,119,244 shares. Based on an average daily volume of 368,156 shares, the days-to-cover ratio is presently 7.7 days.

Several research firms recently issued reports on MDCA. Royal Bank of Canada reaffirmed a “hold” rating and issued a $10.00 price objective on shares of MDC Partners in a research report on Monday, May 1st. Jefferies Group LLC upgraded shares of MDC Partners from a “hold” rating to a “buy” rating and boosted their target price for the company from $4.00 to $12.00 in a research note on Thursday, February 16th. Wells Fargo & Co reiterated a “hold” rating on shares of MDC Partners in a research note on Friday, April 28th. BMO Capital Markets reiterated a “buy” rating and set a $15.00 target price on shares of MDC Partners in a research note on Monday, April 17th. Finally, Zacks Investment Research upgraded shares of MDC Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, February 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $13.00.

MDC Partners (NASDAQ:MDCA) traded down 0.61% during midday trading on Friday, hitting $8.20. The stock had a trading volume of 213,352 shares. The firm’s market capitalization is $466.92 million. MDC Partners has a 52-week low of $2.75 and a 52-week high of $19.26. The firm has a 50-day moving average of $8.56 and a 200 day moving average of $7.54.

MDC Partners (NASDAQ:MDCA) last posted its earnings results on Thursday, April 27th. The business services provider reported ($0.21) earnings per share (EPS) 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 the consensus estimate of $335.32 million. MDC Partners’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.47) EPS. On average, equities analysts forecast that MDC Partners will post $0.28 EPS for the current year.

In related news, insider David Corwin Ross purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were purchased at an average cost of $8.65 per share, with a total value of $43,250.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Karp Capital Management Corp purchased a new position in MDC Partners during the first quarter worth $101,000. 1st Global Advisors Inc. purchased a new position in MDC Partners during the first quarter worth $119,000. Parkwood LLC purchased a new position in MDC Partners during the first quarter worth $126,000. Stifel Financial Corp boosted its position 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 buying an additional 515 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in MDC Partners by 0.9% in the first quarter. Legal & General Group Plc now owns 14,767 shares of the business services provider’s stock worth $139,000 after buying an additional 127 shares during the last quarter.

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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.

12 Month Chart for NASDAQ:MDCA

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