Rubric Capital Management LP cut its position in shares of MDC Partners Inc (NASDAQ:MDCA) by 5.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,146,401 shares of the business services provider’s stock after selling 70,789 shares during the period. MDC Partners accounts for about 1.2% of Rubric Capital Management LP’s investment portfolio, making the stock its 20th largest position. Rubric Capital Management LP owned approximately 1.96% of MDC Partners worth $12,610,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio raised its stake in shares of MDC Partners by 273.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 222,656 shares of the business services provider’s stock worth $2,449,000 after purchasing an additional 163,085 shares in the last quarter. Algert Global LLC purchased a new stake in shares of MDC Partners during the 3rd quarter worth about $922,000. California Public Employees Retirement System raised its stake in shares of MDC Partners by 26.7% during the 3rd quarter. California Public Employees Retirement System now owns 49,292 shares of the business services provider’s stock worth $542,000 after purchasing an additional 10,392 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of MDC Partners during the 3rd quarter worth about $158,000. Finally, Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of MDC Partners during the 3rd quarter worth about $1,300,000. 83.57% of the stock is owned by institutional investors.
A number of research analysts have recently commented on MDCA shares. BidaskClub lowered MDC Partners from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Zacks Investment Research lowered MDC Partners from a “buy” rating to a “hold” rating in a report on Wednesday. Jefferies Group reissued a “buy” rating on shares of MDC Partners in a report on Thursday, September 21st. BMO Capital Markets reissued a “buy” rating and set a $15.00 price objective on shares of MDC Partners in a report on Wednesday, September 13th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $12.00 price objective on shares of MDC Partners in a report on Wednesday, September 13th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $12.00.
Shares of MDC Partners Inc (NASDAQ MDCA) opened at $10.70 on Friday. The stock has a market capitalization of $644.88, a P/E ratio of 20.09, a price-to-earnings-growth ratio of 4.38 and a beta of 1.44. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of -1.94. MDC Partners Inc has a fifty-two week low of $6.10 and a fifty-two week high of $12.26.
MDC Partners (NASDAQ:MDCA) last released its earnings results on Monday, October 30th. The business services provider reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.12. The firm had revenue of $375.80 million for the quarter, compared to analyst estimates of $372.08 million. MDC Partners had a negative return on equity of 7.92% and a net margin of 1.79%. The company’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.62) EPS. equities research analysts forecast that MDC Partners Inc will post 0.42 earnings per share for the current fiscal year.
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MDC Partners Company 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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