Altisource Portfolio Solutions (NASDAQ:ASPS) Lowered to "Hold" Rating by Wall Street Zen

Key Points

• Altisource Portfolio Solutions has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, reflecting a cautious outlook from analysts.
• According to Weiss Ratings, the company also holds a "sell (d-)" rating, contributing to a consensus rating of "Sell" for the stock.
• Despite the downgrades, shares of Altisource Portfolio Solutions rose by 1.5%, with its recent trading price at $11.68.

Altisource Portfolio Solutions (NASDAQ:ASPS - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Altisource Portfolio Solutions in a research note on Friday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Sell".

Altisource Portfolio Solutions Stock Up 1.5%

Shares of NASDAQ ASPS opened at $11.68 on Friday. The firm's 50-day moving average price is $11.68 and its 200-day moving average price is $9.83. Altisource Portfolio Solutions has a 52-week low of $3.46 and a 52-week high of $15.96. The company has a market cap of $128.36 million, a PE ratio of -6.02 and a beta of 0.37.

Altisource Portfolio Solutions (NASDAQ:ASPS - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The business services provider reported $0.14 earnings per share for the quarter. The company had revenue of $40.79 million for the quarter.

Institutional Trading of Altisource Portfolio Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in shares of Altisource Portfolio Solutions during the 1st quarter worth $13,442,000. Nantahala Capital Management LLC increased its stake in shares of Altisource Portfolio Solutions by 16.4% in the 1st quarter. Nantahala Capital Management LLC now owns 2,477,312 shares of the business services provider's stock worth $1,687,000 after purchasing an additional 349,028 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in Altisource Portfolio Solutions in the 1st quarter worth $214,000. Finally, XTX Topco Ltd raised its holdings in Altisource Portfolio Solutions by 306.4% in the 1st quarter. XTX Topco Ltd now owns 80,818 shares of the business services provider's stock worth $55,000 after purchasing an additional 60,933 shares during the period. 41.36% of the stock is owned by hedge funds and other institutional investors.

About Altisource Portfolio Solutions

Altisource Portfolio Solutions SA operates as an integrated service provider and marketplace for the real estate and mortgage industries in the United States and internationally. It operates through Servicer and Real Estate, and Origination segments. The Servicer and Real Estate segment offers property preservation, inspection, title insurance and settlement, real estate valuation, foreclosure trustee, and residential and commercial construction inspection and risk mitigation services.

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