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

Key Points

• Altisource Portfolio Solutions' shares recently surpassed their 200-day moving average, reaching a high of $12.20 and closing at $11.65.
• Analysts from Wall Street Zen upgraded the company's rating from "hold" to "buy" on July 26th, indicating positive sentiment towards the stock.
• Institutional ownership in Altisource Portfolio Solutions has increased, with several hedge funds significantly boosting their stakes, showing growing confidence in the company.

Altisource Portfolio Solutions S.A. (NASDAQ:ASPS - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $8.22 and traded as high as $12.20. Altisource Portfolio Solutions shares last traded at $11.65, with a volume of 6,458 shares changing hands.

Analysts Set New Price Targets

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

Altisource Portfolio Solutions Stock Up 0.9%

The stock has a market cap of $125.95 million, a PE ratio of -2.63 and a beta of 0.30. The company has a fifty day moving average price of $11.22 and a 200 day moving average price of $8.32.

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

Institutional Trading of Altisource Portfolio Solutions

Several large investors have recently modified their holdings of the business. Geode Capital Management LLC grew 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 purchasing an additional 16,390 shares during the last quarter. XTX Topco Ltd boosted its position in Altisource Portfolio Solutions by 306.4% during the 1st quarter. XTX Topco Ltd now owns 80,818 shares of the business services provider's stock valued at $55,000 after acquiring an additional 60,933 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in Altisource Portfolio Solutions during the 1st quarter valued at approximately $214,000. Nantahala Capital Management LLC boosted its position in Altisource Portfolio Solutions by 16.4% during the 1st quarter. Nantahala Capital Management LLC now owns 2,477,312 shares of the business services provider's stock valued at $1,687,000 after acquiring an additional 349,028 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in Altisource Portfolio Solutions during the 4th quarter valued at approximately $302,000. 41.36% of the stock is owned by institutional investors.

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.