MDC Partners (NASDAQ:MDCA) Shares Up 6.1%

MDC Partners Inc (NASDAQ:MDCA)’s share price shot up 6.1% during trading on Friday . The stock traded as high as $2.28 and last traded at $2.27, 119,000 shares traded hands during trading. A decline of 72% from the average session volume of 423,232 shares. The stock had previously closed at $2.14.

The company has a 50 day moving average of $2.46 and a 200 day moving average of $2.58.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clear Harbor Asset Management LLC acquired a new stake in shares of MDC Partners in the 1st quarter valued at about $631,000. Bank of America Corp DE raised its stake in shares of MDC Partners by 65.0% in the 4th quarter. Bank of America Corp DE now owns 73,154 shares of the business services provider’s stock valued at $191,000 after purchasing an additional 28,831 shares during the period. Millennium Management LLC raised its stake in shares of MDC Partners by 242.8% in the 4th quarter. Millennium Management LLC now owns 223,133 shares of the business services provider’s stock valued at $582,000 after purchasing an additional 158,037 shares during the period. Picton Mahoney Asset Management acquired a new stake in shares of MDC Partners in the 1st quarter valued at about $1,126,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of MDC Partners by 70.0% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 142,758 shares of the business services provider’s stock valued at $321,000 after purchasing an additional 58,758 shares during the period. 86.26% of the stock is currently owned by hedge funds and other institutional investors.

MDC Partners Company Profile (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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