Altisource Portfolio Solutions (NASDAQ:ASPS) Downgraded to "Strong Sell" Rating by Zacks Research

Key Points

• Zacks Research downgraded Altisource Portfolio Solutions to “strong sell” from “hold,” while Weiss Ratings also lowered its rating to “sell.” MarketBeat’s overall consensus remains “hold,” with an $8.00 price target.
• ASPS opened at $5.11, well below its 50-day and 200-day moving averages of $6.60 and $6.42, respectively. The stock has traded between $4.30 and $14.36 over the past year.
• The company reported quarterly EPS of $0.17, missing the $0.20 consensus estimate, although revenue of $50.66 million exceeded expectations of $42.90 million. Institutional investors own approximately 41.36% of the company’s shares.

Altisource Portfolio Solutions (NASDAQ:ASPS - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued on Tuesday,Zacks.com reports.

Several other equities analysts have also commented on the stock. Weiss Ratings lowered shares of Altisource Portfolio Solutions from a "sell (d+)" rating to a "sell (e+)" rating in a report on Tuesday. B. Riley Financial initiated coverage on shares of Altisource Portfolio Solutions in a research note on Thursday, April 2nd. They issued a "buy" rating and a $8.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $8.00.

Altisource Portfolio Solutions Price Performance

NASDAQ:ASPS opened at $5.11 on Tuesday. The company has a market capitalization of $58.36 million, a price-to-earnings ratio of -5.16 and a beta of 0.25. The business has a 50 day moving average of $6.60 and a 200 day moving average of $6.42. Altisource Portfolio Solutions has a 1-year low of $4.30 and a 1-year high of $14.36.

Altisource Portfolio Solutions (NASDAQ:ASPS - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The business services provider reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.03). The business had revenue of $50.66 million for the quarter, compared to the consensus estimate of $42.90 million. Altisource Portfolio Solutions had a negative net margin of 5.93% and a negative return on equity of 1.69%. As a group, sell-side analysts anticipate that Altisource Portfolio Solutions will post 0.37 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in shares of Altisource Portfolio Solutions in the first quarter worth $13,442,000. Vanguard Group Inc. boosted its position in Altisource Portfolio Solutions by 41.7% during the 3rd quarter. Vanguard Group Inc. now owns 376,594 shares of the business services provider's stock valued at $4,391,000 after buying an additional 110,888 shares during the period. Potomac Capital Management Inc. bought a new stake in Altisource Portfolio Solutions in the 4th quarter worth $700,000. XTX Topco Ltd bought a new stake in Altisource Portfolio Solutions in the 3rd quarter worth $589,000. Finally, Millennium Management LLC bought a new stake in Altisource Portfolio Solutions in the 3rd quarter worth $141,000. Institutional investors own 41.36% of the company's stock.

About Altisource Portfolio Solutions

Altisource Portfolio Solutions SA NASDAQ: ASPS is a provider of proprietary technology and specialized services to the mortgage and real estate industries. Founded in 2009, the company helps financial institutions, investors and loan servicers streamline processes across the full loan lifecycle, from origination and valuation through default management, asset disposition and investor reporting.

Core offerings include loan servicing and asset management solutions, property preservation and inspection services, valuation and due diligence, title and settlement services, as well as vendor management platforms.

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