Altisource Portfolio Solutions (NASDAQ:ASPS) Share Price Breaks Above 200-Day Moving Average - Here's Why

Key Points

• Altisource Portfolio Solutions shares broke above their 200-day moving average, reaching $6.74 and closing at $6.69 versus the $6.30 average.
• Analyst sentiment remains mixed but improved slightly, with recent upgrades from “strong sell” and “sell” ratings. The consensus rating is Hold, with an average price target of $8.00.
• The company reported quarterly EPS of $0.17, below the $0.20 consensus estimate, while insiders purchased roughly $329,000 of stock over the past 90 days; insiders own 19.07% of the company.

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 $6.30 and traded as high as $6.74. Altisource Portfolio Solutions shares last traded at $6.69, with a volume of 29,573 shares traded.

Wall Street Analysts Forecast Growth

ASPS has been the subject of a number of recent analyst reports. Zacks Research upgraded Altisource Portfolio Solutions from a "strong sell" rating to a "hold" rating in a report on Monday, September 21st. Weiss Ratings upgraded shares of Altisource Portfolio Solutions from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $8.00.

Altisource Portfolio Solutions Stock Performance

The stock's 50-day moving average price is $5.60 and its two-hundred day moving average price is $6.30. The stock has a market capitalization of $76.40 million, a PE ratio of -6.76 and a beta of 0.24.

Altisource Portfolio Solutions (NASDAQ:ASPS - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The business services provider reported $0.17 earnings per share (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, analysts predict that Altisource Portfolio Solutions S.A. will post 0.37 earnings per share for the current fiscal year.

Insider Activity

In other Altisource Portfolio Solutions news, major shareholder Benefit Street Partners Llc bought 48,991 shares of the stock in a transaction dated Monday, August 3rd. The stock was purchased at an average cost of $5.78 per share, for a total transaction of $283,167.98. Following the completion of the acquisition, the insider owned 1,803,045 shares of the company's stock, valued at approximately $10,421,600.10. This trade represents a 2.79% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have purchased 57,701 shares of company stock worth $329,182 in the last ninety days. 19.07% of the stock is currently owned by company insiders.

Institutional Trading of Altisource Portfolio Solutions

An institutional investor recently bought a new stake in Altisource Portfolio Solutions stock. Integrated Wealth Concepts LLC acquired a new stake in shares of Altisource Portfolio Solutions S.A. (NASDAQ:ASPS - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 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. Institutional investors own 41.36% of the company's stock.

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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