Altisource Portfolio Solutions (NASDAQ:ASPS) Trading Down 5.6% - Here's Why

Altisource Portfolio Solutions S.A. (NASDAQ:ASPS - Get Free Report)'s stock price dropped 5.6% on Friday . The stock traded as low as $5.60 and last traded at $5.52. Approximately 25,290 shares were traded during mid-day trading, a decline of 23% from the average daily volume of 32,663 shares. The stock had previously closed at $5.84.

Analyst Ratings Changes

Separately, Wall Street Zen initiated coverage on shares of 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 business's fifty day simple moving average is $6.68 and its two-hundred day simple moving average is $6.32. The company has a market cap of $486.12 million, a price-to-earnings ratio of -3.91 and a beta of 0.33.

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

Insider Activity

In other news, CEO William B. Shepro acquired 26,312 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were purchased at an average cost of $3.84 per share, for a total transaction of $101,038.08. Following the transaction, the chief executive officer now directly owns 38,812 shares in the company, valued at approximately $149,038.08. This represents a 210.50% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.30% of the company's stock.

Hedge Funds Weigh In On Altisource Portfolio Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in shares of Altisource Portfolio Solutions during the 1st quarter worth $13,442,000. Nantahala Capital Management LLC increased 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 valued at $1,687,000 after purchasing an additional 349,028 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Altisource Portfolio Solutions in the 1st quarter valued at about $214,000. XTX Topco Ltd increased its holdings in shares of Altisource Portfolio Solutions by 306.4% in the 1st 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. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Altisource Portfolio Solutions in the 4th quarter worth about $302,000. 41.36% of the stock is currently owned by hedge funds and other institutional investors.

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.