Check with other companies, From time to time, they all have to deal with all kinds of lawsuits.
But the total shares they sold is not too much. It's pretty much like a year end sale for meeting some income tax goal. We cannot control the Insider sales anyway, but todays down 14% looks like overdone
The Monitor from DFS will have limited power, and he/she cannot do too much if ASPS ready to "match the price".
a. AS long as ASPS match the market prices provided by other companies, The Monitor have no right to force OCN chose other companies.ASPS can and will offer better price than other companies, since OCN is its brother company.
b. ASPS has some investment in OCN some subsidiaries($94m), they should have the right to get the order first.
c. "Prefer less than 200k shares holder to make a decision whether to do business with ASPS"
But they are still shareholders anyway. I don't think they are in that of leadership position to know the industry better and can make a better choice other than ASPS.
d. I reviewed 10-Q for ASPS, Two places ASPS mentioned that are charging OCN "market price". So between DFS's charging standard and the "market price" they will not expected to be not too much difference.
2. OCN damage is almost settle down
So far do not see another State file lawsuit, only some lawyers are filing a few cases. We won't expected too much damage on OCN.
3. ASPS developed many business other than with OCN. Last Q clearly showed the revenue increase to $288m than 2013's $213, Although business from OCN increases more than 20%, but the percentage of OCN business dropped from 68% to 60%. We can see ASPS aggressively develop new business other than with OCN's traditional business.
4. The damage can be estimated. Service charge can not be more than 5%-20% range. So assuming this loss from OCN, ASPS still can achieve its goal for the 4Q.
5. Among industries, ASPS have the lowest PE
So we shall see ASPS soar to $40 range very soon.
Sentiment: Strong Buy
1.Issue stock in 5th day and $15m covert to common share
2.Publish Opu Bio co-operation in 9th day
They know what is going on. They how to catch up the boat.
Sentiment: Strong Sell
I think the insider buy is more technical rather than any NEWS. Remember the stock originally set to $15-$18, and Insiders have the right to buy after the price reach to some level. The same store happened with OTIC recently, but none of their insider are buying. The insider buy just show his confidence. Maybe he did not expected the IPO was that hot, so he want to catch up the boat ASAP. So I think his buying is more technical , not fundemental.
MBLY recommend by JP Morgan for $98, Now $44. EMES recomanded to be $139, now only $60
AGTC IPO following the same story. Now many investors are hanged up on the $35 tall tree.