As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Thursday, Altisource Portfolio Solutions (NASDAQ:ASPS)'s, Park Road Management Company, LP Deer, made a $2.89M buy of ASPS, purchasing 111,516 shares at a cost of $25.93 a piece. Altisource Portfolio Solutions SA is trading off about 0.3% on the day Monday. Before this latest buy, Deer purchased ASPS at 6 other times during the past year, for a total investment of $22.74M at an average of $25.44 per share.
And at Eaton Vance Floating-rate 2022 Target Term Trust (EFL), there was insider buying on Friday, by Officer Scott H. Page who purchased 20,000 shares for a cost of $9.40 each, for a trade totaling $187,998. Before this latest buy, Page made one other buy in the past twelve months, purchasing $187,400 shares for a cost of $9.37 each. Eaton Vance Floating-rate 2022 Target Term Trust is trading off about 0.4% on the day Monday.
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