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 Friday, Altisource Portfolio Solutions (NASDAQ:ASPS)'s, Park Road Management Company, LP Deer, made a $507,840 purchase of ASPS, buying 19,567 shares at a cost of $25.95 a piece. Deer was up about 5.7% on the purchase at the high point of today's trading session, with ASPS trading as high as $27.43 in trading on Tuesday. Altisource Portfolio Solutions is trading down about 0.1% on the day Tuesday. Before this latest buy, Deer bought ASPS on 7 other occasions during the past twelve months, for a total investment of $25.63M at an average of $25.50 per share.
And at Apogee Enterprises (NASDAQ:APOG), there was insider buying on Monday, by Chief Executive Officer & Pres Joseph F. Puishys who purchased 12,000 shares for a cost of $41.37 each, for a total investment of $496,471. This purchase marks the first one filed by Puishys in the past year. Apogee Enterprises is trading up about 1.8% on the day Tuesday. So far Puishys is in the green, up about 2.6% on their buy based on today's trading high of $42.43.
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