Altisource Portfolio Solutions (NASDAQ:ASPS) Shares Gap Down - What's Next?

Shares of Altisource Portfolio Solutions S.A. (NASDAQ:ASPS - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $6.38, but opened at $5.76. Altisource Portfolio Solutions shares last traded at $5.70, with a volume of 3,302 shares.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen began coverage on Altisource Portfolio Solutions in a report on Wednesday, May 21st. They issued a "sell" rating on the stock.

Altisource Portfolio Solutions Stock Down 5.0%

The company has a market cap of $486.12 million, a price-to-earnings ratio of -3.91 and a beta of 0.33. The company has a fifty day simple moving average of $6.68 and a two-hundred day simple moving average of $6.32.

Altisource Portfolio Solutions (NASDAQ:ASPS - Get Free Report) last posted its earnings results on Thursday, May 1st. The business services provider reported ($0.16) earnings per share for the quarter.

Insiders Place Their Bets

In other news, CEO William B. Shepro acquired 26,312 shares of the business's stock in a transaction dated Friday, March 28th. The shares were bought at an average cost of $3.84 per share, for a total transaction of $101,038.08. Following the acquisition, the chief executive officer now directly owns 38,812 shares in the company, valued at $149,038.08. This trade represents a 210.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Altisource Portfolio Solutions

A number of large investors have recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in shares of Altisource Portfolio Solutions in the 1st quarter worth about $13,442,000. Nantahala Capital Management LLC raised its holdings in shares of Altisource Portfolio Solutions by 16.4% in the 1st quarter. Nantahala Capital Management LLC now owns 2,477,312 shares of the business services provider's stock worth $1,687,000 after purchasing an additional 349,028 shares during the period. Jefferies Financial Group Inc. purchased a new position in shares of Altisource Portfolio Solutions in the 1st quarter worth about $214,000. XTX Topco Ltd raised its holdings in shares of 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 buying an additional 60,933 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Altisource Portfolio Solutions during the 4th quarter valued at about $302,000. 41.36% of the stock is currently owned by hedge funds and other 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.