Todays Report: The Independent Portfolio Consultants Inc. Buys 2,145 Shares of MDC Partners Inc. (MDCA)

The Independent Portfolio Consultants Inc. Buys 2,145 Shares of MDC Partners Inc. (MDCA)

Independent Portfolio Consultants Inc. boosted its stake in shares of MDC Partners Inc. (NASDAQ:MDCA) by 23.3% during the third quarter, Holdings Channel reports. The institutional investor owned 11,360 shares of the company’s stock after buying an additional 2,145 shares during the period. Independent Portfolio Consultants Inc.’s holdings in MDC Partners were worth $122,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDCA. Emerald Acquisition Ltd. purchased a new position in MDC Partners during the second quarter valued at about $27,005,000. Chartwell Investment Partners LLC boosted its stake in shares of MDC Partners by 19.1% in the second quarter. Chartwell Investment Partners LLC now owns 3,351,875 shares of the company’s stock valued at $61,306,000 after buying an additional 538,633 shares during the last quarter. Columbus Circle Investors boosted its stake in shares of MDC Partners by 36.8% in the second quarter. Columbus Circle Investors now owns 1,393,146 shares of the company’s stock valued at $25,481,000 after buying an additional 374,858 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of MDC Partners by 55.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,012,330 shares of the company’s stock valued at $18,516,000 after buying an additional 362,330 shares during the last quarter. Finally, Elk Creek Partners LLC boosted its stake in shares of MDC Partners by 24.9% in the second quarter. Elk Creek Partners LLC now owns 1,731,412 shares of the company’s stock valued at $31,668,000 after buying an additional 345,365 shares during the last quarter.

Shares of MDC Partners Inc. (NASDAQ:MDCA) traded up 0.84% during trading on Friday, hitting $6.00. The company had a trading volume of 164,644 shares. MDC Partners Inc. has a 1-year low of $2.75 and a 1-year high of $23.90. The company’s 50 day moving average is $7.75 and its 200 day moving average is $13.32. The firm’s market capitalization is $324.40 million.

Several analysts recently commented on MDCA shares. Wells Fargo & Co. cut MDC Partners from an “outperform” rating to a “market perform” rating in a report on Friday, November 4th. BMO Capital Markets cut MDC Partners from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $23.00 to $5.00 in a report on Friday, November 4th. Albert Fried & Company cut MDC Partners from an “overweight” rating to a “market perform” rating in a report on Thursday, October 27th. Jefferies Group reiterated a “hold” rating and issued a $3.50 target price (down from $17.00) on shares of MDC Partners in a report on Monday, November 7th. Finally, Zacks Investment Research cut MDC Partners from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $13.95.

In other news, CEO Scott L. Kauffman acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were bought at an average cost of $12.19 per share, with a total value of $60,950.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Lawrence S. Kramer acquired 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 4th. The shares were purchased at an average cost of $3.48 per share, for a total transaction of $104,400.00. The disclosure for this purchase can be found here. Corporate insiders own 2.00% of the company’s stock.

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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