Indaba Capital Management L.P. Boosts Holdings in MDC Partners Inc (MDCA)

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.

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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

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Institutional Ownership by Quarter for MDC Partners (NASDAQ:MDCA)

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