Altisource Portfolio Solutions (NASDAQ:ASPS) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Altisource Portfolio Solutions shares crossed above their two hundred day moving average, showcasing a current trading price of $10.51 compared to a moving average of $7.90.
• Analysts at Wall Street Zen have upgraded the stock from a "hold" to a "buy" rating, indicating positive sentiment moving forward.
• Institutional investors now hold approximately 41.36% of Altisource Portfolio Solutions' stock, reflecting increased interest and investment in the company.

Altisource Portfolio Solutions S.A. (NASDAQ:ASPS - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.90 and traded as high as $10.85. Altisource Portfolio Solutions shares last traded at $10.51, with a volume of 7,052 shares traded.

Analyst Ratings Changes

Separately, Wall Street Zen raised Altisource Portfolio Solutions from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th.

Altisource Portfolio Solutions Stock Up 9.0%

The stock has a market cap of $115.25 million, a price-to-earnings ratio of -2.41 and a beta of 0.23. The business has a 50-day moving average of $10.75 and a 200-day moving average of $7.98.

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 (EPS) for the quarter. The firm had revenue of $40.79 million for the quarter.

Hedge Funds Weigh In On Altisource Portfolio Solutions

Several institutional investors have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in Altisource Portfolio Solutions during the first quarter valued at about $13,442,000. Nantahala Capital Management LLC raised its holdings in Altisource Portfolio Solutions by 16.4% during the first quarter. Nantahala Capital Management LLC now owns 2,477,312 shares of the business services provider's stock valued at $1,687,000 after buying an additional 349,028 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Altisource Portfolio Solutions during the fourth quarter valued at about $302,000. Jefferies Financial Group Inc. bought a new position in Altisource Portfolio Solutions during the first quarter valued at about $214,000. Finally, Geode Capital Management LLC raised its holdings in Altisource Portfolio Solutions by 8.9% during the fourth quarter. Geode Capital Management LLC now owns 199,824 shares of the business services provider's stock valued at $131,000 after buying an additional 16,390 shares in the last quarter. 41.36% of the stock is currently owned by 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.