"The CEO at L-1 Identity Solutions (NYSE: ID) has snapped up $4.1 million worth of shares," reports Karim Rahemtulla, investment director at Xcelerated Profits Report.
"One of our portfolio positions is defense sector firm, L-1 Identity Solutions. The company is one of the leading identity protection and security firms.
"The company provides biometric systems at both the federal and state levels in the U.S., as well as for governments around the world.
"Wall Street has given this firm a rough ride recently, but it’s not because of any negative changes in its business. Plus, it has very little competition and continues to grow both internally and through acquisitions.
"We’re also paying attention to the ton of insider buying this year – most notably, the 879,200 shares that CEO Robert LaPenta has snapped up since mid February at a total cost of $4.1 million.
"With firms like L-1 it’s important to remember the long-term potential that these firms hold. So if you believe in the promise – as we do – then try to view any dips as buying opportunities.
"The company is very solvent and the shares still have excellent upside potential. Plus, we like that insiders are also buying."
