MDC Partners (NASDAQ:MDCA) Shares Cross Above 200-Day Moving Average of $2.57

MDC Partners Inc (NASDAQ:MDCA)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.57 and traded as high as $2.37. MDC Partners shares last traded at $2.34, with a volume of 990 shares trading hands.

The stock’s 50-day moving average price is $2.43 and its two-hundred day moving average price is $2.57.

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

Several institutional investors have recently added to or reduced their stakes in the company. Indaba Capital Management L.P. grew its position in shares of MDC Partners by 3.8% during the 2nd quarter. Indaba Capital Management L.P. now owns 7,181,301 shares of the business services provider’s stock valued at $18,097,000 after acquiring an additional 265,235 shares during the period. Schroder Investment Management Group grew its position in shares of MDC Partners by 3.4% during the 2nd quarter. Schroder Investment Management Group now owns 3,079,693 shares of the business services provider’s stock valued at $7,761,000 after acquiring an additional 101,613 shares during the period. BlackRock Inc. grew its position in shares of MDC Partners by 0.8% during the 2nd quarter. BlackRock Inc. now owns 2,798,335 shares of the business services provider’s stock valued at $7,051,000 after acquiring an additional 22,812 shares during the period. Morgan Stanley grew its position in shares of MDC Partners by 377.5% during the 2nd quarter. Morgan Stanley now owns 1,523,068 shares of the business services provider’s stock valued at $3,838,000 after acquiring an additional 1,204,069 shares during the period. Finally, Northern Right Capital Management L.P. grew its position in shares of MDC Partners by 376.1% during the 2nd quarter. Northern Right Capital Management L.P. now owns 836,545 shares of the business services provider’s stock valued at $2,108,000 after acquiring an additional 660,845 shares during the period. 86.26% of the stock is owned by hedge funds and other institutional investors.

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.

See Also: Example of operating income, EBIT and EBITDA

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