Schwab Charles Investment Management Inc. decreased its stake in shares of MDC Partners Inc (NASDAQ:MDCA) by 6.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 147,278 shares of the business services provider’s stock after selling 10,600 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.25% of MDC Partners worth $678,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of MDC Partners in the 2nd quarter worth $104,000. Sei Investments Co. increased its holdings in shares of MDC Partners by 108.4% in the 2nd quarter. Sei Investments Co. now owns 23,264 shares of the business services provider’s stock worth $107,000 after purchasing an additional 12,099 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of MDC Partners by 99.3% in the 1st quarter. Cubist Systematic Strategies LLC now owns 25,625 shares of the business services provider’s stock worth $185,000 after purchasing an additional 12,766 shares in the last quarter. Element Capital Management LLC bought a new stake in shares of MDC Partners in the 1st quarter worth $220,000. Finally, Palo Capital Inc. increased its holdings in shares of MDC Partners by 479.7% in the 2nd quarter. Palo Capital Inc. now owns 64,937 shares of the business services provider’s stock worth $299,000 after purchasing an additional 53,735 shares in the last quarter. Institutional investors and hedge funds own 86.13% of the company’s stock.
Shares of MDCA opened at $2.71 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of -4.11. MDC Partners Inc has a one year low of $2.68 and a one year high of $12.26.
MDC Partners (NASDAQ:MDCA) last issued its quarterly earnings data on Thursday, August 2nd. The business services provider reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.05). MDC Partners had a negative return on equity of 5.04% and a net margin of 14.33%. The firm had revenue of $379.74 million during the quarter, compared to the consensus estimate of $379.40 million. During the same period in the previous year, the firm earned $0.14 EPS. The business’s revenue was down 2.8% on a year-over-year basis. On average, research analysts predict that MDC Partners Inc will post 0.09 EPS for the current fiscal year.
A number of research firms have commented on MDCA. BidaskClub raised MDC Partners from a “sell” rating to a “hold” rating in a report on Friday, July 6th. ValuEngine lowered MDC Partners from a “sell” rating to a “strong sell” rating in a report on Friday, June 22nd. Finally, Zacks Investment Research raised MDC Partners from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 12th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $9.08.
MDC Partners Company Profile
MDC Partners Inc provides marketing, advertising, activation, communications, and strategic consulting solutions worldwide. It offers a range of customized services, including global advertising and marketing services; media buying, planning, and optimization; interactive and mobile marketing; direct marketing; database and customer relationship management; sales promotion; corporate communications; market research; data analytics and insights; corporate identity, design, and branding services; social media communications; product and service innovation; e-commerce management; and technology services.
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