MDC Partners CEO Buys 25,000 Shares After Stock Drops Post-Earnings Release

MDC Partners Inc MDCA shares dropped more than 60 percent in trading on Friday after reporting Q3 results after the market close on Thursday. The firm reported EPS of $-0.64 (Est. $0.42) and revenue of $349.3 million (Est. $392.13 million).

MDC received a slew of analyst downgrades Friday morning, further driving the shares down.

Midday Friday, MDC CEO Scott Kauffman purchased 25,000 shares at $2.92, increasing his total stake by $73,000.

Insiders buying and selling stock can be an indicator to investors of what those insiders think their company’s stock price will do.