StockNews.com initiated coverage on shares of Altisource Portfolio Solutions (NASDAQ:ASPS - Free Report) in a research report report published on Saturday. The brokerage issued a sell rating on the business services provider's stock.
Altisource Portfolio Solutions Stock Performance
ASPS traded down $0.03 on Friday, reaching $0.80. The company had a trading volume of 3,061 shares, compared to its average volume of 266,360. The business has a 50 day simple moving average of $0.78 and a 200 day simple moving average of $0.84. The company has a market cap of $70.30 million, a price-to-earnings ratio of -0.57 and a beta of 0.47. Altisource Portfolio Solutions has a 52-week low of $0.22 and a 52-week high of $1.06.
Insiders Place Their Bets
In other Altisource Portfolio Solutions news, CEO William B. Shepro purchased 210,498 shares of the firm's stock in a transaction on Friday, March 28th. The shares were purchased at an average cost of $0.48 per share, with a total value of $101,039.04. Following the completion of the purchase, the chief executive officer now owns 310,498 shares of the company's stock, valued at $149,039.04. The trade was a 210.50 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.30% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the company. Nantahala Capital Management LLC increased its stake in shares of Altisource Portfolio Solutions by 95.1% in the fourth quarter. Nantahala Capital Management LLC now owns 2,128,284 shares of the business services provider's stock worth $1,399,000 after buying an additional 1,037,275 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of Altisource Portfolio Solutions in the fourth quarter worth $302,000. Finally, Geode Capital Management LLC increased its stake in shares of Altisource Portfolio Solutions by 8.9% in the fourth quarter. Geode Capital Management LLC now owns 199,824 shares of the business services provider's stock worth $131,000 after buying an additional 16,390 shares during the period. 41.36% of the stock is owned by hedge funds and other institutional investors.
About Altisource Portfolio Solutions
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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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