Cornercap Investment Counsel Inc. bought a new stake in shares of MDC Partners Inc (NASDAQ:MDCA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 153,670 shares of the business services provider’s stock, valued at approximately $1,498,000. Cornercap Investment Counsel Inc. owned about 0.26% of MDC Partners as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in shares of MDC Partners during the 4th quarter valued at $109,000. SG Americas Securities LLC bought a new position in shares of MDC Partners during the 3rd quarter valued at $112,000. Oppenheimer Asset Management Inc. grew its holdings in shares of MDC Partners by 185.1% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 10,873 shares of the business services provider’s stock valued at $120,000 after purchasing an additional 7,059 shares during the last quarter. CAPROCK Group Inc. bought a new position in shares of MDC Partners during the 4th quarter valued at $135,000. Finally, Jane Street Group LLC bought a new position in shares of MDC Partners during the 3rd quarter valued at $158,000. 86.04% of the stock is currently owned by institutional investors.
Several research firms recently commented on MDCA. BidaskClub lowered shares of MDC Partners from a “sell” rating to a “strong sell” rating in a report on Thursday, March 8th. Royal Bank of Canada set a $12.00 price target on shares of MDC Partners and gave the company a “hold” rating in a research report on Friday, February 23rd. BMO Capital Markets reissued a “buy” rating on shares of MDC Partners in a research report on Friday, February 23rd. Wells Fargo & Co reissued a “hold” rating on shares of MDC Partners in a research report on Friday, February 23rd. Finally, Zacks Investment Research raised shares of MDC Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $12.40.
MDC Partners (NASDAQ:MDCA) last announced its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.01. The business had revenue of $402.70 million during the quarter, compared to analysts’ expectations of $408.70 million. MDC Partners had a net margin of 15.98% and a negative return on equity of 9.36%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.17 EPS. equities research analysts expect that MDC Partners Inc will post 0.61 earnings per share for the current fiscal year.
MDC Partners 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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