MDC Partners (NASDAQ:MDCA) Stock Crosses Above Two Hundred Day Moving Average of $2.51

MDC Partners Inc (NASDAQ:MDCA)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.51 and traded as high as $2.64. MDC Partners shares last traded at $2.63, with a volume of 46,893 shares trading hands.

The company’s fifty day moving average is $2.36 and its two-hundred day moving average is $2.51.

MDC Partners (NASDAQ:MDCA) last posted its earnings results on Wednesday, August 7th. The business services provider reported $0.01 earnings per share 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.

A number of hedge funds have recently modified their holdings of the business. Indaba Capital Management L.P. lifted its holdings in MDC Partners by 3.8% in the 2nd quarter. Indaba Capital Management L.P. now owns 7,181,301 shares of the business services provider’s stock worth $18,097,000 after buying an additional 265,235 shares in the last quarter. Walleye Trading Advisors LLC acquired a new position in MDC Partners in the 2nd quarter worth $81,000. Walleye Trading LLC acquired a new position in MDC Partners in the 2nd quarter worth $78,000. Schroder Investment Management Group lifted its holdings in MDC Partners by 3.4% in the 2nd quarter. Schroder Investment Management Group now owns 3,079,693 shares of the business services provider’s stock worth $7,761,000 after buying an additional 101,613 shares in the last quarter. Finally, Kings Point Capital Management acquired a new position in MDC Partners in the 2nd quarter worth $66,000. Hedge funds and other institutional investors own 68.88% of the company’s stock.

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.

See Also: Outstanding Shares and The Effect on Share Price

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