MDC Partners Inc. (NASDAQ:MDCA) Stock in Focus: How to Trade Now?
MDC Partners Inc. (NASDAQ:MDCA) dropped 10.66% after the company revised its Fiscal 2021 organic revenue growth and adjusted EBITDA guidance. CEO Mark Penn said that the company is experiencing strong demand in its business after it reported its highest Q1 adjusted EBITDA in its history.
In addition, Penn said that they are encouraged by 1H 2021’s strength following recovery from the COVID-19 pandemic. As a result, the company raised its FY2021 organic revenue growth outlook to between 9% and 11% and now expects adjusted EBITDA to range $200-$210 million, which is around 13-18% above the previous year. Penn said that the momentum sets well ahead of the company’s proposed combination with Stagwell, disrupting the sector and enhancing stakeholders’ value.
The company recently announced an expansion of its goal affiliate network in Russia following Adwise’s addition. Adwise is the largest autonomous creative agency in Russia. The latest partnership expands MDC’s international content, creative, and data-driven media abilities and supports the global brand partners of the network in the region. So in the coming months, MDCA is a stock to watch.
Market Reaction:
On Monday, MDCA stock fell 10.66% at $4.86 with more than 223k shares, compared to its average volume of 403k shares. The stock has moved within a range of $4.8100 – 5.4219 after opening the trade at $5.38. Over the past 52-week, the stock has been trading within a range of $1.6000 – 6.3700.
