CEOs Are Piling Up More Shares of These Three Companies

Last but not least, Altisource Portfolio Solutions S.A. (NASDAQ:ASPS)’s top executive also made a relatively sizable purchase this week. Chief Executive Officer William B. Shepro snapped up two blocks of shares on Tuesday, consisting of 6,100 shares and 1,100 shares, at a weighted average price of $24.43. All these shares are held through a trust fund called William B. Shepro Revocable Trust, which currently owns 99,298 shares. The CEO also holds 56,600 restricted shares of common stock, which are scheduled to vest in three equal installments in April 2017, April 2018 and April 2019. General Counsel Gregory J. Ritts bought 500 shares on Monday at a price of $24.14 per share, enlarging his holding to 6,100 shares. The freshly-upped stake includes 5,600 restricted shares of ASPS’s common stock.

Altisource Portfolio Solutions is a marketplace and transaction solutions provider for the real estate, mortgage and consumer debt industries. The company conducts its business operations through three reportable segments: the Mortgage Services segment, which offers services that span the mortgage and real estate lifecycle; the Financial Services segment, which provides collection and customer relationship management services; and the Technology Services segment, which offers a wide array of software, data analytics, and infrastructure management services. Altisource Portfolio Solutions recognized service revenue of $940.92 million for 2015, which increased from $938.7 million for 2014 and $662.1 million for 2013. The increase was mainly driven by revenue expansion in the asset management services businesses due to growth in the number of non-Ocwen and Ocwen (Ocwen Financial Corporation is the largest customer of Altisource) real estate owned properties sold on real estate portal Hubzu. Altisource was also selected by two top ten banks to provide services for their portfolios during 2015, which might drive up the company’s top-line results in the quarters and years ahead. Shares of Altisource are up 69% in the past year, but they have plummeted 14% since the beginning of 2016. The stock is priced around 6.2-times expected earnings, versus the forward P/E of 17.6 for the S&P 500. Leon Cooperman’s Omega Advisors was one of the 11 hedge funds invested in Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) at the end of December 2015, holding a stake of 1.66 million shares as of December 31.

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