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

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

MDC Partners Inc (NASDAQ: 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.

 

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