MDC Partners Inc (NASDAQ:MDCA) Short Interest Down 5.7% in October

MDC Partners Inc (NASDAQ:MDCA) was the target of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 1,490,000 shares, a decrease of 5.7% from the September 30th total of 1,580,000 shares. Based on an average daily volume of 276,600 shares, the days-to-cover ratio is currently 5.4 days. Currently, 2.7% of the company’s stock are short sold.

Shares of MDCA stock opened at $2.46 on Tuesday. MDC Partners has a fifty-two week low of $1.65 and a fifty-two week high of $3.53. The business has a fifty day simple moving average of $2.86 and a 200-day simple moving average of $2.69.

A number of institutional investors and hedge funds have recently bought and sold shares of MDCA. Kings Point Capital Management acquired a new position in MDC Partners during the 2nd quarter worth approximately $66,000. Walleye Trading LLC acquired a new position in MDC Partners during the 2nd quarter worth $78,000. Walleye Trading Advisors LLC acquired a new position in MDC Partners during the 2nd quarter worth $81,000. HighTower Advisors LLC boosted its position in MDC Partners by 381.0% during the 2nd quarter. HighTower Advisors LLC now owns 60,987 shares of the business services provider’s stock worth $154,000 after acquiring an additional 48,309 shares during the period. Finally, Lorber David A lifted its holdings in shares of MDC Partners by 17.5% in the second quarter. Lorber David A now owns 92,764 shares of the business services provider’s stock valued at $234,000 after buying an additional 13,791 shares during the period. Institutional investors own 68.48% of the company’s stock.

Separately, ValuEngine upgraded shares of MDC Partners from a “sell” rating to a “hold” rating in a research note on Monday, November 4th.

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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