Investors in Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) may take note of the company's latest insider trading activity. William B. Shepro, the Chairman and CEO of Altisource, recently purchased shares of the company's common stock, signaling his confidence in the firm's prospects.
The transaction, which occurred on March 14, 2024, involved Shepro acquiring 2,200 shares at a price of $2.51 each, totaling approximately $5,521. These shares were bought on the open market and were directly deposited into the William B. Shepro Revocable Trust, as noted in the footnotes of the filing.
This purchase increases Shepro's direct holdings in Altisource, with the post-transaction amount reflecting a total of 721,048 shares owned. The details of this transaction were made public through a Form 4 filing with the Securities and Exchange Commission on March 18, 2024.
Altisource Portfolio Solutions, headquartered in Luxembourg, operates within the business services sector, providing a variety of services to its clients. The recent acquisition of stock by the company's CEO may be of interest to existing and potential shareholders, as insider transactions are often considered a reflection of an executive's view on the company's current valuation and future performance.
Investors typically monitor insider buying as it can provide insights into how the company's leadership perceives the business's health and potential. The transaction by Shepro thus adds a layer for investors to consider as they assess their positions in Altisource Portfolio Solutions S.A.
InvestingPro Insights
Following the recent insider buying activity by Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) CEO William B. Shepro, investors may find additional context in the company's financial data and analyst expectations. According to InvestingPro, despite the CEO's vote of confidence, Altisource faces several challenges.
InvestingPro Data reveals a market capitalization of $65.89M, reflecting the size of the company in the current market. The revenue for the last twelve months as of Q4 2023 stands at $145.07M, though it's worth noting that this represents a decline of 5.26% over the period. Furthermore, the company's gross profit margin in the same timeframe was 20.44%, which could be seen as a potential area for improvement.
Among the InvestingPro Tips, two points stand out that may be particularly relevant for investors. Firstly, analysts do not anticipate the company will be profitable this year, which aligns with the negative P/E Ratio (Adjusted) of -1.26 for the last twelve months as of Q4 2023. Secondly, the stock has been identified as having high price volatility, which could be a concern for risk-averse investors, especially considering the stock's significant price drop over the last six months (-39.12%) and the past year (-41.29%).
For those looking to delve deeper, InvestingPro offers additional insights, with a total of 13 InvestingPro Tips available for Altisource, which can provide a more comprehensive understanding of the company's financial health and market position. To access these tips, investors can visit InvestingPro and can benefit from an additional 10% off a yearly or biyearly Pro and Pro+ subscription by using the coupon code PRONEWS24.
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