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

Altisource Portfolio Solutions S.A. (NASDAQ:ASPS - Get Free Report) passed 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 changing hands.

Analyst Ratings Changes

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

Altisource Portfolio Solutions Trading Up 0.3%

The firm has a market cap of $69.94 million, a P/E ratio of -4.43 and a beta of 0.33. The firm's 50 day moving average is $6.72 and its two-hundred day moving average is $6.31.

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.

Insider Buying and Selling 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 bought at an average price of $3.84 per share, with a total value of $101,038.08. Following the completion of the transaction, the chief executive officer now directly owns 38,812 shares of the company's stock, valued at approximately $149,038.08. The trade was a 210.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.30% of the company's stock.

Institutional Investors Weigh In On Altisource Portfolio Solutions

Several institutional investors have recently added to or reduced their stakes in ASPS. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in Altisource Portfolio Solutions during the 1st quarter worth about $13,442,000. Nantahala Capital Management LLC boosted its position 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 buying an additional 349,028 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of Altisource Portfolio Solutions during the fourth quarter worth about $302,000. Jefferies Financial Group Inc. bought a new position in shares of Altisource Portfolio Solutions during the first quarter worth about $214,000. Finally, Geode Capital Management LLC raised its position in Altisource Portfolio Solutions by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 199,824 shares of the business services provider's stock valued at $131,000 after buying an additional 16,390 shares during the last quarter. 41.36% of the stock is owned by 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.