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

Altisource Portfolio Solutions S.A. (NASDAQ:ASPS - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.31 and traded as high as $6.51. Altisource Portfolio Solutions shares last traded at $6.34, with a volume of 24,584 shares trading hands.

Analysts Set New Price Targets

Separately, Wall Street Zen began coverage on shares of Altisource Portfolio Solutions in a research note on Wednesday, May 21st. They set a "sell" rating for the company.

Altisource Portfolio Solutions Stock Up 0.3%

The company's 50 day moving average price is $6.74 and its 200 day moving average price is $6.30. The firm has a market capitalization of $69.94 million, a price-to-earnings ratio of -4.43 and a beta of 0.03.

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

Insider Transactions at Altisource Portfolio Solutions

In related news, CEO William B. Shepro acquired 26,312 shares of the stock in a transaction dated Friday, March 28th. The stock was acquired at an average cost of $3.84 per share, for a total transaction of $101,038.08. Following the completion of the purchase, the chief executive officer now owns 38,812 shares of the company's stock, valued at approximately $149,038.08. This represents a 210.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in shares of Altisource Portfolio Solutions during the first quarter worth $13,442,000. Nantahala Capital Management LLC raised its holdings in shares of 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 worth $1,687,000 after purchasing an additional 349,028 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Altisource Portfolio Solutions during the first quarter worth $214,000. XTX Topco Ltd raised its holdings in shares of Altisource Portfolio Solutions by 306.4% during the first quarter. XTX Topco Ltd now owns 80,818 shares of the business services provider's stock worth $55,000 after purchasing an additional 60,933 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Altisource Portfolio Solutions during the fourth quarter worth $302,000. Hedge funds and other 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.