Renaissance Technologies LLC Acquires 145,800 Shares of MDC Partners Inc. (MDCA)

Renaissance Technologies LLC raised its position in shares of MDC Partners Inc. (NASDAQ:MDCA) by 345.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 188,000 shares of the business services provider’s stock after buying an additional 145,800 shares during the period. Renaissance Technologies LLC owned about 0.35% of MDC Partners worth $1,767,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MDCA. Corsair Capital Management L.P. raised its position in MDC Partners by 1,325.8% in the first quarter. Corsair Capital Management L.P. now owns 356,452 shares of the business services provider’s stock worth $3,351,000 after buying an additional 331,452 shares in the last quarter. Geode Capital Management LLC raised its position in MDC Partners by 24.7% in the first quarter. Geode Capital Management LLC now owns 119,017 shares of the business services provider’s stock worth $1,118,000 after buying an additional 23,545 shares in the last quarter. Vanguard Group Inc. raised its position in MDC Partners by 4.8% in the first quarter. Vanguard Group Inc. now owns 1,397,114 shares of the business services provider’s stock worth $13,133,000 after buying an additional 63,952 shares in the last quarter. Croft Leominster Inc. acquired a new position in MDC Partners during the first quarter worth $188,000. Finally, ACT II Management LP acquired a new position in MDC Partners during the first quarter worth $3,986,000. Institutional investors and hedge funds own 86.09% of the company’s stock.

MDC Partners Inc. (NASDAQ:MDCA) traded down 0.7222% on Monday, hitting $10.0767. 37,811 shares of the stock were exchanged. The firm’s market cap is $588.88 million. MDC Partners Inc. has a 12 month low of $2.75 and a 12 month high of $13.37. The company has a 50-day moving average of $10.13 and a 200 day moving average of $8.92.

MDC Partners (NASDAQ:MDCA) last released its quarterly earnings results on Monday, August 7th. The business services provider reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by $0.02. The firm had revenue of $390.53 million for the quarter, compared to analyst estimates of $368.74 million. MDC Partners had a negative return on equity of 5.72% and a negative net margin of 1.70%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the firm earned $0.02 EPS. Equities research analysts expect that MDC Partners Inc. will post $0.31 earnings per share for the current fiscal year.

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A number of research analysts have recently commented on the stock. Royal Bank Of Canada restated a “sector perform” rating and set a $12.00 price target (up from $10.00) on shares of MDC Partners in a research report on Tuesday, August 8th. BidaskClub lowered shares of MDC Partners from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research lowered shares of MDC Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Jefferies Group LLC boosted their price target on shares of MDC Partners to $12.00 and gave the company a “buy” rating in a research report on Monday, June 5th. Finally, Wells Fargo & Company restated a “hold” rating on shares of MDC Partners in a research report on Friday, April 28th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $12.14.

About MDC Partners

MDC Partners Inc is a provider of global marketing, advertising, activation, communications and strategic consulting solutions. The Company and its subsidiary agencies (Partner Firms) deliver a range of customized services. The Company’s segments include Reportable Segment, All Other and Corporate. The Reportable segment consists of the Company’s integrated advertising, media and public relations service companies.

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

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