We've been following Audience (NASDAQ:ADNC) for some time now as a compelling long, but yesterday's insider buy sends such a strong signal that we felt compelled to post this now.
Yesterday, May 7th, ADNC's CFO Kevin Palatnik bought 25,000 shares, worth $350,000. This is after a previous 50,000 share purchase on March 7th. In total, he has purchased more than $1 million worth of stock in the last two months. This is eye-opening for a CFO with a $300k salary. In all of our time following the market, we have never before seen an insider make a personal bet of this magnitude.
In light of the earnings disappointment following Mr. Palatnik's substantial purchase in March, it is unlikely...
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