Altisource Portfolio Solutions (NASDAQ:ASPS) Major Shareholder Benefit Street Partners Llc Purchases 48,991 Shares of Stock

Key Points

• Major shareholder Benefit Street Partners purchased 48,991 Altisource Portfolio Solutions shares at an average of $5.78, investing approximately $283,168 and increasing its ownership to 1,803,045 shares.
• ASPS shares fell to $5.25, well below their 50-day and 200-day moving averages. The company recently reported quarterly EPS of $0.17, missing the $0.20 analyst consensus, and has negative net margins.
• Analyst sentiment remains cautious: Zacks Research downgraded the stock to “strong sell,” while the overall consensus rating is “Hold” with an $8.00 price target; institutional investors own 41.36% of the shares.

Altisource Portfolio Solutions S.A. (NASDAQ:ASPS - Get Free Report) major shareholder Benefit Street Partners Llc purchased 48,991 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was bought at an average price of $5.78 per share, for a total transaction of $283,167.98. Following the completion of the transaction, the insider directly owned 1,803,045 shares in the company, valued at approximately $10,421,600.10. The trade was a 2.79% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

Benefit Street Partners Llc also recently made the following trade(s):

• On Friday, July 31st, Benefit Street Partners Llc acquired 1,009 shares of Altisource Portfolio Solutions stock. The shares were bought at an average price of $5.43 per share, for a total transaction of $5,478.87.

Altisource Portfolio Solutions Stock Performance

Shares of ASPS traded down $0.33 during trading hours on Tuesday, reaching $5.25. 32,492 shares of the company traded hands, compared to its average volume of 26,812. The stock's fifty day moving average is $6.56 and its 200 day moving average is $6.40. Altisource Portfolio Solutions S.A. has a 1-year low of $4.30 and a 1-year high of $14.36. The stock has a market cap of $59.95 million, a P/E ratio of -5.30 and a beta of 0.27.

Altisource Portfolio Solutions (NASDAQ:ASPS - Get Free Report) last released its earnings results on Thursday, July 23rd. The business services provider reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates 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%. On average, equities research analysts predict that Altisource Portfolio Solutions S.A. will post 0.37 EPS for the current year.

Institutional Investors Weigh In On Altisource Portfolio Solutions

Institutional investors have recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of Altisource Portfolio Solutions in the 1st quarter valued at approximately $13,442,000. Vanguard Group Inc. boosted its stake in Altisource Portfolio Solutions by 41.7% in 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 in the last quarter. Millennium Management LLC bought a new stake in Altisource Portfolio Solutions in the third quarter valued at $141,000. XTX Topco Ltd bought a new stake in Altisource Portfolio Solutions in the third quarter valued at $589,000. Finally, Potomac Capital Management Inc. acquired a new position in Altisource Portfolio Solutions during the fourth quarter worth $700,000. 41.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on ASPS shares. Zacks Research cut Altisource Portfolio Solutions from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 28th. Weiss Ratings downgraded shares of Altisource Portfolio Solutions from a "sell (d+)" rating to a "sell (e+)" rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $8.00.

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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