State Board of Administration of Florida Retirement System raised its holdings in shares of MDC Partners Inc. (NASDAQ:MDCA) by 34.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,294 shares of the business services provider’s stock after acquiring an additional 10,173 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.07% of MDC Partners worth $432,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of MDCA. Legal & General Group Plc lifted its stake 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 purchasing an additional 127 shares during the last quarter. Bank of New York Mellon Corp raised its stake in MDC Partners by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 318,533 shares of the business services provider’s stock worth $3,154,000 after buying an additional 1,296 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in MDC Partners by 7.0% in the second quarter. Oppenheimer & Co. Inc. now owns 20,480 shares of the business services provider’s stock worth $203,000 after buying an additional 1,340 shares in the last quarter. HPM Partners LLC raised its stake in MDC Partners by 3.2% in the second quarter. HPM Partners LLC now owns 57,272 shares of the business services provider’s stock worth $841,000 after buying an additional 1,772 shares in the last quarter. Finally, Voya Investment Management LLC grew its holdings in MDC Partners by 18.0% in the second quarter. Voya Investment Management LLC now owns 25,906 shares of the business services provider’s stock worth $256,000 after purchasing an additional 3,957 shares during the last quarter. Hedge funds and other institutional investors own 83.57% of the company’s stock.
MDCA has been the topic of a number of research analyst reports. Wells Fargo & Company reissued a “hold” rating and set a $12.00 price objective on shares of MDC Partners in a report on Tuesday, October 31st. BMO Capital Markets reiterated a “buy” rating and issued a $15.00 price objective on shares of MDC Partners in a research report on Wednesday, October 18th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $12.00 price objective (up previously from $10.00) on shares of MDC Partners in a research report on Tuesday, August 8th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of MDC Partners in a research note on Thursday, September 21st. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $12.00.
MDC Partners (NASDAQ:MDCA) last announced its quarterly earnings results on Monday, October 30th. The business services provider reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.12. MDC Partners had a net margin of 1.79% and a negative return on equity of 7.92%. The firm had revenue of $375.80 million for the quarter, compared to analyst estimates of $372.08 million. During the same period last year, the business earned ($0.62) EPS. MDC Partners’s revenue for the quarter was up 7.6% compared to the same quarter last year. equities research analysts expect that MDC Partners Inc. will post 0.42 EPS for the current year.
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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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