MDC Partners Inc. (NASDAQ:MDCA) was upgraded by research analysts at Albert Fried & Company from an "underweight" rating to an "overweight" rating in a research note issued on Friday, The Fly reports.
MDC Partners (NASDAQ:MDCA) traded down 29.85% on Friday, reaching $12.76. 5,567,269 shares of the company traded hands. The stock has a 50-day moving average price of $18.01 and a 200-day moving average price of $19.48. The firm's market cap is $641.27 million. MDC Partners has a 52-week low of $12.38 and a 52-week high of $23.90.
MDC Partners (NASDAQ:MDCA) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by $0.13. During the same quarter in the prior year, the firm earned $0.59 EPS. The business had revenue of $337.05 million for the quarter, compared to analysts' expectations of $346.02 million. The company's revenue was up .1% on a year-over-year basis. Analysts anticipate that MDC Partners will post $1.06 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 24th. Investors of record on Wednesday, August 10th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 6.58%. The ex-dividend date is Monday, August 8th.
Several hedge funds recently made changes to their positions in MDCA. Select Equity Group L.P. increased its stake in shares of MDC Partners by 65.6% in the fourth quarter. Select Equity Group L.P. now owns 786,140 shares of the company's stock valued at $17,075,000 after buying an additional 311,508 shares during the last quarter. 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 valued at $25,504,000 after buying an additional 266,813 shares during the last quarter. Gotham Asset Management LLC bought a new stake in shares of MDC Partners during the fourth quarter valued at approximately $4,078,000. Stoneridge Investment Partners LLC bought a new stake in shares of MDC Partners during the second quarter valued at approximately $2,718,000. Finally, Folger Hill Asset Management LP bought a new stake in shares of MDC Partners during the fourth quarter valued at approximately $2,927,000.
MDCA has been the topic of several other reports. Telsey Advisory Group lowered shares of MDC Partners from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $28.50 to $22.00 in a research note on Friday. BMO Capital Markets reissued a "buy" rating and issued a $26.00 price objective on shares of MDC Partners in a research report on Wednesday, July 6th. Zacks Investment Research downgraded shares of MDC Partners from a "buy" rating to a "hold" rating in a research report on Thursday, April 14th. Wedbush decreased their price objective on shares of MDC Partners from $26.00 to $23.00 and set an "outperform" rating for the company in a research report on Friday. Finally, Jefferies Group reissued a "buy" rating and issued a $24.00 price objective on shares of MDC Partners in a research report on Thursday, May 5th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. MDC Partners currently has an average rating of "Buy" and a consensus price target of $23.13.
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.