Altisource Portfolio Solutions (NASDAQ:ASPS) Rating Increased to Hold at Zacks Research

Altisource Portfolio Solutions (NASDAQ:ASPS) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday, Zacks reports.

Separately, Weiss Ratings cut Altisource Portfolio Solutions from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Altisource Portfolio Solutions currently has an average rating of “Hold” and a consensus price target of $8.00.

Altisource Portfolio Solutions Trading Down 1.1%

NASDAQ ASPS opened at $5.62 on Monday. The stock has a fifty day simple moving average of $5.69 and a 200-day simple moving average of $6.33. The stock has a market cap of $64.18 million, a PE ratio of -5.68 and a beta of 0.24. Altisource Portfolio Solutions has a twelve month low of $4.30 and a twelve month high of $14.36.

Altisource Portfolio Solutions (NASDAQ:ASPS) last announced its earnings results on Thursday, July 23rd. The business services provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.03). Altisource Portfolio Solutions had a negative return on equity of 1.69% and a negative net margin of 5.93%. Research analysts predict that Altisource Portfolio Solutions will post 0.37 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Benefit Street Partners Llc purchased 48,991 shares of Altisource Portfolio Solutions stock in a transaction on Monday, August 3rd. The shares were bought at an average price of $5.78 per share, with a total value of $283,167.98. Following the transaction, the insider directly owned 1,803,045 shares of the company’s stock, valued at approximately $10,421,600.10. This trade represents a 2.79% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders acquired 57,701 shares of company stock worth $329,182. Insiders own 19.07% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Altisource Portfolio Solutions stock. Integrated Wealth Concepts LLC acquired a new position in shares of Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 27,903 shares of the business services provider’s stock, valued at approximately $209,000. Integrated Wealth Concepts LLC owned about 0.24% of Altisource Portfolio Solutions at the end of the most recent quarter. 41.36% of the stock is owned by institutional investors.

About Altisource Portfolio Solutions

Altisource Portfolio Solutions SA (NASDAQ:ASPS) provides technology, marketplace and related services to the mortgage and real estate industries. The company supports lenders, investors, real estate professionals and consumers through platforms designed to facilitate property marketing, transactions, asset management and other aspects of the real estate lifecycle.

Its offerings have included Hubzu, an online marketplace for buying and selling residential real estate, along with software and workflow solutions for default management, property disposition and related mortgage processes.