In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Altisource Asset Management Corp (NYSEMKT:AAMC) reported that Luxor Capital Group has picked up 23,749 of common stock as of 2017-03-27.
The acquisition brings the aggregate amount owned by Luxor Capital Group to a total of 23,749 representing a 1.5% stake in the company
For those not familiar with the company, Altisource Asset Management Corporation provides asset management and corporate governance services to institutional investors. The Company’s primary client is Altisource Residential Corporation (Residential). The Company operates through segment, which is focused on providing asset management and certain corporate governance services to Residential. Its business strategy is to provide asset management services to Residential to generate cash available for distribution to its shareholders and thereby growing its earnings, and develop additional investment strategies and vehicles. Residential is a public real estate investment trust (REIT) that acquires and manages single-family rental properties by acquiring sub-performing and non-performing mortgage loans throughout the United States. In addition to providing services to Residential, it also provides management services to NewSource Reinsurance Company Ltd., which is an insurance and reinsurance company.
A glance at Altisource Asset Management Corp (NYSEMKT:AAMC)’s key stats reveals a current market capitalization of 99.83 Million based on 1.53 Million shares outstanding and a price at last close of $61.50 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-03-15, Bossidy picked up 1,000 at a purchase price of $13.61. This brings their total holding to 1,714 as of the date of the filing.
On the sell side, the most recent transaction saw Luxor unload 41,944 shares at a sale price of $24.00. This brings their total holding to 89,256.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Altisource Asset Management Corp (NYSEMKT:AAMC) as things move forward to see if its progress aligns with these transactions.
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