The MDC Partners Inc. (MDCA) Coverage Initiated by Analysts at RBC Capital Markets

The MDC Partners Inc. (MDCA) Coverage Initiated by Analysts at RBC Capital Markets

RBC Capital Markets initiated coverage on shares of MDC Partners Inc. (NASDAQ:MDCA) in a research report sent to investors on Thursday. The firm issued a sector perform rating and a $12.00 price objective on the stock.

Other analysts have also issued reports about the stock. Zacks Investment Research raised shares of MDC Partners from a hold rating to a buy rating and set a $20.00 price target on the stock in a research report on Thursday, July 28th. BMO Capital Markets reaffirmed a buy rating and set a $26.00 price target on shares of MDC Partners in a research report on Wednesday, July 6th. Albert Fried & Company reaffirmed a buy rating and set a $23.00 price target on shares of MDC Partners in a research report on Sunday, July 3rd. Jefferies Group reaffirmed a hold rating on shares of MDC Partners in a research report on Monday, August 29th. Finally, Telsey Advisory Group lowered shares of MDC Partners from an outperform rating to a market perform rating and dropped their price target for the stock from $28.50 to $22.00 in a research report on Friday, July 29th. Five 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 an average rating of Buy and an average target price of $20.00.

Shares of MDC Partners (NASDAQ:MDCA) opened at 10.75 on Thursday. The stock’s 50 day moving average is $11.67 and its 200 day moving average is $16.57. MDC Partners has a 12 month low of $10.32 and a 12 month high of $23.90. The firm’s market capitalization is $574.96 million.

MDC Partners (NASDAQ:MDCA) last announced its earnings results on Thursday, July 28th. The company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.13. The company had revenue of $337.05 million for the quarter, compared to analyst estimates of $346.02 million. During the same period last year, the firm earned $0.59 EPS. The company’s revenue was up .1% compared to the same quarter last year. Equities research analysts forecast that MDC Partners will post $0.89 earnings per share for the current fiscal year.

In other MDC Partners news, CEO Scott L. Kauffman purchased 5,000 shares of the stock in a transaction that occurred on Monday, August 29th. The shares were acquired at an average cost of $12.19 per share, with a total value of $60,950.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.

A number of large investors have recently made changes to their positions in the company. Aperio Group LLC increased its stake 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 worth $1,054,000 after buying an additional 20,015 shares during the last quarter. Prudential Financial Inc. purchased a new stake in shares of MDC Partners during the first quarter worth about $364,000. American Financial Group Inc. purchased a new stake in shares of MDC Partners during the first quarter worth about $241,000. Lazard Asset Management LLC increased its stake 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 worth $25,504,000 after buying an additional 266,813 shares during the last quarter. Finally, Nicholas Investment Partners LP increased its stake in shares of MDC Partners by 4.6% in the first quarter. Nicholas Investment Partners LP now owns 208,908 shares of the company’s stock worth $4,930,000 after buying an additional 9,225 shares during the last quarter.

About MDC Partners

Related posts

Leave a Comment