Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) Sees Significant Decrease in Short Interest

Altisource Portfolio Solutions S.A. (NASDAQ:ASPS - Get Free Report) was the target of a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 195,400 shares, a drop of 85.2% from the April 30th total of 1,320,000 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average trading volume of 17,200 shares, the days-to-cover ratio is presently 11.4 days.

Analysts Set New Price Targets

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

Altisource Portfolio Solutions Trading Down 5.0%

Shares of NASDAQ ASPS traded down $0.29 during mid-day trading on Friday, hitting $5.55. The company had a trading volume of 54,120 shares, compared to its average volume of 32,769. The company has a market capitalization of $486.12 million, a price-to-earnings ratio of -3.91 and a beta of 0.33. Altisource Portfolio Solutions has a 1 year low of $1.73 and a 1 year high of $9.12. The stock's 50-day moving average price is $6.68 and its 200-day moving average price is $6.32.

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

Insider Buying and Selling

In other news, CEO William B. Shepro bought 26,312 shares of the firm's stock in a transaction on Friday, March 28th. The stock was acquired at an average cost 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 $149,038.08. This represents a 210.50% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Altisource Portfolio Solutions

Hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd grew its position in shares of 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. Geode Capital Management LLC grew its position in shares of Altisource Portfolio Solutions by 8.9% in the fourth quarter. Geode Capital Management LLC now owns 199,824 shares of the business services provider's stock valued at $131,000 after purchasing an additional 16,390 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in Altisource Portfolio Solutions during the first quarter worth about $214,000. Integrated Wealth Concepts LLC purchased a new position in Altisource Portfolio Solutions during the fourth quarter worth about $302,000. Finally, Nantahala Capital Management LLC grew its position in Altisource Portfolio Solutions by 95.1% during the fourth quarter. Nantahala Capital Management LLC now owns 2,128,284 shares of the business services provider's stock worth $1,399,000 after buying an additional 1,037,275 shares in the last quarter. 41.36% of the stock is currently owned by hedge funds and other 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.