Altisource Portfolio Solutions (NASDAQ:ASPS) Upgraded by Zacks Research to "Hold" Rating

Key Points

• Zacks Research upgraded Altisource Portfolio Solutions from “Strong Sell” to “Hold,” while Weiss Ratings downgraded it from “Sell (D-)” to “Sell (E+).” The stock has a consensus “Hold” rating and an average price target of $8.00.
• ASPS opened at $5.62 and remains well below its 52-week high of $14.36, with a market capitalization of approximately $64.2 million. The company recently reported quarterly EPS of $0.17, missing consensus estimates of $0.20.
• Insiders purchased 57,701 shares worth about $329,000 over the past three months, while institutional ownership stands at 41.36% and insider ownership at 19.07%.

Altisource Portfolio Solutions (NASDAQ:ASPS - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Monday, Zacks reports.

Separately, Weiss Ratings cut shares of Altisource Portfolio Solutions from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Altisource Portfolio Solutions presently has a consensus rating of "Hold" and an average price target of $8.00.

Altisource Portfolio Solutions Stock Performance

ASPS opened at $5.62 on Monday. The company has a fifty day moving average of $5.69 and a two-hundred day moving average of $6.33. The stock has a market capitalization of $64.18 million, a price-to-earnings ratio of -5.68 and a beta of 0.24. Altisource Portfolio Solutions has a fifty-two week low of $4.30 and a fifty-two week high of $14.36.

Altisource Portfolio Solutions (NASDAQ:ASPS - Get Free Report) last posted its earnings results on Thursday, July 23rd. The business services provider reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.03). Altisource Portfolio Solutions had a negative net margin of 5.93% and a negative return on equity of 1.69%. On average, equities research analysts forecast that Altisource Portfolio Solutions will post 0.37 earnings per share for the current year.

Insider Transactions at Altisource Portfolio Solutions

In other Altisource Portfolio Solutions news, major shareholder Benefit Street Partners Llc acquired 48,991 shares of the business's stock in a transaction on Monday, August 3rd. The stock was bought at an average price of $5.78 per share, for a total transaction of $283,167.98. Following the acquisition, the insider owned 1,803,045 shares in the company, valued at approximately $10,421,600.10. The trade was a 2.79% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders have bought 57,701 shares of company stock worth $329,182. 19.07% of the stock is currently owned by corporate insiders.

Institutional Trading of Altisource Portfolio Solutions

An institutional investor recently bought a new position in Altisource Portfolio Solutions stock. Integrated Wealth Concepts LLC purchased a new stake in shares of Altisource Portfolio Solutions S.A. (NASDAQ:ASPS - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 27,903 shares of the business services provider's stock, valued at approximately $209,000. Integrated Wealth Concepts LLC owned about 0.24% of Altisource Portfolio Solutions at the end of the most recent quarter. 41.36% of the stock is currently owned by institutional investors.

About Altisource Portfolio Solutions

Altisource Portfolio Solutions SA NASDAQ: ASPS provides technology, marketplace and related services to the mortgage and real estate industries. The company supports lenders, investors, real estate professionals and consumers through platforms designed to facilitate property marketing, transactions, asset management and other aspects of the real estate lifecycle.

Its offerings have included Hubzu, an online marketplace for buying and selling residential real estate, along with software and workflow solutions for default management, property disposition and related mortgage processes.

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