MDC Partners (NASDAQ:MDCA) Stock Price Up 6.1%

Shares of MDC Partners Inc (NASDAQ:MDCA) rose 6.1% during trading on Friday . The stock traded as high as $2.28 and last traded at $2.27, approximately 119,000 shares changed hands during mid-day trading. A decline of 72% from the average daily volume of 423,232 shares. The stock had previously closed at $2.14.

The company’s 50 day moving average is $2.46 and its 200 day moving average is $2.58.

MDC Partners (NASDAQ:MDCA) last released its quarterly earnings results on Wednesday, August 7th. The business services provider reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.12). The company had revenue of $362.13 million for the quarter.

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA grew its stake in shares of MDC Partners by 204.9% in the first quarter. BNP Paribas Arbitrage SA now owns 11,685 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 7,853 shares in the last quarter. Kings Point Capital Management acquired a new position in shares of MDC Partners in the second quarter valued at about $66,000. Walleye Trading LLC acquired a new position in shares of MDC Partners in the second quarter valued at about $78,000. Walleye Trading Advisors LLC acquired a new position in shares of MDC Partners in the second quarter valued at about $81,000. Finally, HighTower Advisors LLC grew its stake in shares of MDC Partners by 381.0% in the second quarter. HighTower Advisors LLC now owns 60,987 shares of the business services provider’s stock valued at $154,000 after acquiring an additional 48,309 shares in the last quarter. Institutional investors and hedge funds own 86.26% of the company’s stock.

About MDC Partners (NASDAQ:MDCA)

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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