Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Altisource Portfolio Solutions (NASDAQ:ASPS), a filing with the SEC revealed that on Thursday, Director Timo Vatto purchased 2,000 shares of ASPS, for a cost of $64.39 each, for a total investment of $128,780. Bargain hunters can buy ASPS at a price even lower than Vatto did, with the stock changing hands as low as $62.02 at last check today which is 3.7% under Vatto's purchase price. Altisource Portfolio Solutions SA is trading up about 1.7% on the day Monday.
And at Gran Tierra Energy Inc (AMEX:GTE), there was insider buying on Thursday, by Director Nicholas G. Kirton who bought 16,561 shares for a cost of $6.05 each, for a trade totaling $100,194. Gran Tierra Energy Inc is trading up about 2.2% on the day Monday.
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