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

Key Points

• Altisource Portfolio Solutions shares surged above their 200-day moving average of $9.61, reaching a high of $12.14 before closing at $12.05.
• The stock has received mixed ratings, with Wall Street Zen upgrading it to a "buy" and Weiss Ratings maintaining a "sell" rating, leading to an average rating of "Sell."
• Institutional investors increased their holdings, with significant stakes acquired by firms like XTX Topco Ltd and Jefferies Financial Group, now owning 41.36% of the company's stock.

Altisource Portfolio Solutions S.A. (NASDAQ:ASPS - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.61 and traded as high as $12.14. Altisource Portfolio Solutions shares last traded at $12.05, with a volume of 10,227 shares.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ASPS shares. Wall Street Zen raised shares of Altisource Portfolio Solutions from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Altisource Portfolio Solutions in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of "Sell".

Altisource Portfolio Solutions Trading Up 1.3%

The company has a market cap of $132.43 million, a price-to-earnings ratio of -2.76 and a beta of 0.37. The stock has a 50 day moving average price of $11.52 and a two-hundred day moving average price of $9.61.

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

Institutional Investors Weigh In On Altisource Portfolio Solutions

Institutional investors have recently bought and sold shares of the company. XTX Topco Ltd grew its stake in Altisource Portfolio Solutions by 306.4% in the first quarter. XTX Topco Ltd now owns 80,818 shares of the business services provider's stock valued at $55,000 after purchasing an additional 60,933 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in Altisource Portfolio Solutions in the 1st quarter worth about $214,000. Nantahala Capital Management LLC increased its stake 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 worth $1,687,000 after acquiring an additional 349,028 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of Altisource Portfolio Solutions in the 1st quarter valued at approximately $13,442,000. Institutional investors own 41.36% of the company's stock.

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.

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