Kornitzer Capital Management Inc. KS Invests $2.64 Million in Medpace Holdings, Inc. (NASDAQ:MEDP)

Kornitzer Capital Management Inc. KS purchased a new position in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,675 shares of the company's stock, valued at approximately $2,643,000.

Other hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC boosted its stake in shares of Medpace by 5.7% during the 1st quarter. Larson Financial Group LLC now owns 10,051 shares of the company's stock worth $3,062,000 after acquiring an additional 542 shares during the last quarter. Whittier Trust Co. increased its stake in Medpace by 47.3% in the 1st quarter. Whittier Trust Co. now owns 109 shares of the company's stock worth $33,000 after buying an additional 35 shares in the last quarter. Dakota Wealth Management raised its holdings in Medpace by 188.9% during the first quarter. Dakota Wealth Management now owns 2,115 shares of the company's stock valued at $644,000 after acquiring an additional 1,383 shares during the period. Signaturefd LLC lifted its position in shares of Medpace by 10.8% in the first quarter. Signaturefd LLC now owns 655 shares of the company's stock valued at $200,000 after acquiring an additional 64 shares in the last quarter. Finally, Edgestream Partners L.P. boosted its stake in shares of Medpace by 11.1% in the first quarter. Edgestream Partners L.P. now owns 21,438 shares of the company's stock worth $6,532,000 after acquiring an additional 2,139 shares during the period. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Medpace news, Director Fred B. Davenport, Jr. sold 1,712 shares of the firm's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $301.82, for a total value of $516,715.84. Following the completion of the sale, the director owned 2,998 shares of the company's stock, valued at $904,856.36. This trade represents a 36.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 20.30% of the company's stock.

Medpace Price Performance

Shares of NASDAQ:MEDP traded up $5.43 during trading on Thursday, hitting $320.26. The company had a trading volume of 189,259 shares, compared to its average volume of 378,481. The stock has a market cap of $9.20 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 5.66 and a beta of 1.47. The company has a fifty day simple moving average of $306.78 and a two-hundred day simple moving average of $318.31. Medpace Holdings, Inc. has a one year low of $250.05 and a one year high of $459.77.

Medpace (NASDAQ:MEDP - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The company reported $3.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.06 by $0.61. Medpace had a return on equity of 54.36% and a net margin of 19.31%. The company had revenue of $558.57 million during the quarter, compared to the consensus estimate of $528.38 million. During the same period last year, the company earned $3.20 earnings per share. On average, equities research analysts anticipate that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on MEDP. Robert W. Baird dropped their price target on Medpace from $340.00 to $313.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Leerink Partnrs raised shares of Medpace to a "hold" rating in a research note on Monday, March 24th. TD Cowen cut shares of Medpace from a "buy" rating to a "hold" rating and decreased their price target for the stock from $370.00 to $328.00 in a research note on Monday, April 14th. William Blair reissued a "market perform" rating on shares of Medpace in a report on Tuesday, April 22nd. Finally, Barclays began coverage on Medpace in a report on Tuesday, June 24th. They issued an "equal weight" rating and a $300.00 target price on the stock. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Medpace has an average rating of "Hold" and an average price target of $344.82.

Medpace Company Profile

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.