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

Key Points

• Altisource Portfolio Solutions shares surpassed their 200-day moving average of $8.91, trading at $11.21 with a peak at $11.50.
• The company received an upgrade from a "hold" to a "buy" rating by Wall Street Zen on July 26.
• In its latest quarter, Altisource reported earnings of $0.14 per share and generated revenue of $40.79 million.

Shares of Altisource Portfolio Solutions S.A. (NASDAQ:ASPS - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.91 and traded as high as $11.50. Altisource Portfolio Solutions shares last traded at $11.21, with a volume of 27,046 shares.

Analyst Upgrades and Downgrades

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

Altisource Portfolio Solutions Stock Performance

The company has a fifty day moving average price of $11.42 and a 200-day moving average price of $8.91. The firm has a market capitalization of $123.20 million, a PE ratio of -2.57 and a beta of 0.30.

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

Institutional Trading of Altisource Portfolio Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd raised its holdings 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 buying an additional 60,933 shares during the period. Jefferies Financial Group Inc. purchased a new stake in Altisource Portfolio Solutions during the 1st quarter valued at $214,000. Nantahala Capital Management LLC increased its stake in Altisource Portfolio Solutions by 16.4% in the first 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. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in Altisource Portfolio Solutions in the first quarter worth $13,442,000. Hedge funds and other institutional investors 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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