Altisource Portfolio Solutions (NASDAQ:ASPS) Posts Quarterly Earnings Results

Key Points

• Altisource Portfolio Solutions reported earnings of $0.14 per share and revenue of $40.79 million for the latest quarter.
• Following the earnings report, the company's stock fell by 4.2%, with current trading around $11.50.
• Analysts have upgraded Altisource Portfolio Solutions from a "hold" to a "buy" rating, indicating increased investor confidence.

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

Altisource Portfolio Solutions Stock Down 4.2%

Altisource Portfolio Solutions stock opened at $11.50 on Friday. Altisource Portfolio Solutions has a twelve month low of $3.46 and a twelve month high of $15.96. The company has a 50 day moving average of $9.47 and a 200-day moving average of $7.49. The stock has a market capitalization of $127.88 million, a PE ratio of -2.64 and a beta of 0.18.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Altisource Portfolio Solutions from a "hold" rating to a "buy" rating in a report on Saturday.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Altisource Portfolio Solutions stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in shares of Altisource Portfolio Solutions S.A. (NASDAQ:ASPS - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 19,739,088 shares of the business services provider's stock, valued at approximately $13,442,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 22.54% of Altisource Portfolio Solutions at the end of the most recent quarter. Institutional investors and hedge funds own 41.36% of the company's stock.

Altisource Portfolio Solutions Company Profile

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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