Indaba Capital Management L.P. boosted its position in shares of MDC Partners Inc (NASDAQ:MDCA) by 30.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 421,467 shares of the business services provider’s stock after buying an additional 99,256 shares during the period. MDC Partners comprises 0.5% of Indaba Capital Management L.P.’s portfolio, making the stock its 18th biggest holding. Indaba Capital Management L.P.’s holdings in MDC Partners were worth $1,749,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in MDC Partners during the 2nd quarter worth approximately $104,000. Sei Investments Co. increased its stake in MDC Partners by 108.4% during the 2nd quarter. Sei Investments Co. now owns 23,264 shares of the business services provider’s stock worth $107,000 after buying an additional 12,099 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in MDC Partners by 41.5% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 34,240 shares of the business services provider’s stock worth $158,000 after buying an additional 10,050 shares in the last quarter. Jefferies Group LLC increased its stake in MDC Partners by 99.7% during the 3rd quarter. Jefferies Group LLC now owns 42,929 shares of the business services provider’s stock worth $178,000 after buying an additional 21,429 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in MDC Partners by 32.0% during the 2nd quarter. California Public Employees Retirement System now owns 53,269 shares of the business services provider’s stock worth $245,000 after buying an additional 12,912 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.
MDCA stock opened at $3.28 on Friday. The company has a market capitalization of $143.79 million, a PE ratio of 5.38 and a beta of 1.18. MDC Partners Inc has a 1 year low of $2.20 and a 1 year high of $11.55.
MDC Partners (NASDAQ:MDCA) last posted its quarterly earnings results on Monday, October 29th. The business services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.15). The company had revenue of $375.83 million during the quarter, compared to analysts’ expectations of $373.07 million. MDC Partners had a net margin of 12.00% and a negative return on equity of 0.82%. MDC Partners’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the company earned $0.24 earnings per share.
Several equities research analysts have commented on MDCA shares. ValuEngine upgraded MDC Partners from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 14th. Zacks Investment Research upgraded MDC Partners from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 12th. Finally, BidaskClub lowered MDC Partners from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. MDC Partners has a consensus rating of “Hold” and a consensus target price of $7.63.
COPYRIGHT VIOLATION NOTICE: This piece of content was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this piece of content on another domain, it was copied illegally and republished in violation of United States and international trademark and copyright legislation. The legal version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/12/07/indaba-capital-management-l-p-boosts-holdings-in-mdc-partners-inc-mdca.html.
MDC Partners 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.
Further Reading: Google Finance Portfolio
Want to see what other hedge funds are holding MDCA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MDC Partners Inc (NASDAQ:MDCA).
Receive News & Ratings for MDC Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MDC Partners and related companies with MarketBeat.com's FREE daily email newsletter.