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MDC Partners Inc (MDCA) Stock: GMT Capital Unloads A Few Hundred Thousand Shares

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A freshly amended 13G filing with the Securities and Exchange Commission showed that Thomas E. Claugus GMT Capital has lowered its stake in MDC Partners Inc (NASDAQ:MDCA). Currently, its stake consists of 2.87 million common shares, which amass 5.70% of the float. GMT Capital’s stake was previously about 300,000 shares larger, as it contained 3.17 million shares as per the fund’s 13F filing for the end of June.

MDC Partners is a company that provides professional services in the advertising and marketing sector. Year-to-date, the company’s stock is down by 55.8%. For the second quarter of 2016, MDC Partners reported EPS of $0.02 and revenue of $337 million, missing analysts’ consensus estimates of $0.15 in EPS on $346.02 million in revenue. Earlier this month, RBC Capital Markets initiated coverage on MDC Partners’ stock, placing a ‘Sector Perform’ rating on it, along with a price target of $12.

 Shutter_M/Shutterstock.com

Shutter_M/Shutterstock.com

Out of the 749 hedge funds tracked by Insider Monkey which filed 13Fs for the June reporting period, 18 declared holding long positions in MDC Partners Inc (NASDAQ:MDCA) as of the end of June, down from 19 as of the end of the March quarter. Among the shareholders with the largest positions on June 30 were Amy Minella’s Cardinal Capital (2.95 million shares), Richard Barrera’s Roystone Capital Partners (2.39 million shares), and Principal Global Investors’ Columbus Circle Investors (1.39 million shares).

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You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Bay Resource Partners 745,020 745,020 1.48%
Bay II Resource Partners 599,530 599,530 2.478%
Bay Resource Partners Offshore Master Fund 1,242,029 1,242,029 5.70%
GMT Capital Corp. – 2,865,699 2,865,699 5.70%
Thomas E. Claugus – 2,865,699 2,865,699

Thomas E. Claugus
Thomas E. Claugus
GMT Capital

Page 1 of 10 – SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

SCHEDULE 13G/A

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No.1)*

MDC Partners, Inc.
——————————————————————————-
(Name of Issuer)

COMMON STOCK, (PAR VALUE $0.0001 Per Share)
——————————————————————————-
(Title of Class of Securities)

552697104
——————————————————————————-
(CUSIP Number)

October 17, 2016
——————————————————————————-
(Date of Event which Requires Filing of this Statement)

CHECK THE APPROPRIATE BOX TO DESIGNATE THE RULE PURSUANT TO WHICH THIS SCHEDULE
IS FILED:

[X] RULE 13D-1(B)

[ ] RULE 13D-1(C)

[ ] RULE 13D-1(D)

*THE REMAINDER OF THIS COVER PAGE SHALL BE FILLED OUT FOR A REPORTING
PERSON’S INITIAL FILING ON THIS FORM WITH RESPECT TO THE SUBJECT CLASS OF
SECURITIES, AND FOR ANY SUBSEQUENT AMENDMENT CONTAINING INFORMATION WHICH
WOULD ALTER DISCLOSURES PROVIDED IN A PRIOR COVER PAGE.

THE INFORMATION REQUIRED ON THE REMAINDER OF THIS COVER PAGE SHALL NOT
BE DEEMED TO BE “FILED” FOR THE PURPOSE OF SECTION 18 OF THE SECURITIES
EXCHANGE ACT OF 1934 (THE “ACT”) OR OTHERWISE SUBJECT TO THE LIABILITIES
OF THAT SECTION OF THE ACT BUT SHALL BE SUBJECT TO ALL OTHER PROVISIONS
OF THE ACT (HOWEVER, SEE THE NOTES).

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