StockNews.com Begins Coverage on Altisource Portfolio Solutions (NASDAQ:ASPS)

Investment analysts at StockNews.com initiated coverage on shares of Altisource Portfolio Solutions (NASDAQ:ASPS - Get Free Report) in a research note issued on Monday. The brokerage set a "sell" rating on the business services provider's stock.

Altisource Portfolio Solutions Stock Performance

Shares of NASDAQ ASPS opened at $0.95 on Monday. The firm's fifty day moving average is $0.81 and its two-hundred day moving average is $0.82. Altisource Portfolio Solutions has a 52-week low of $0.22 and a 52-week high of $1.14. The company has a market cap of $83.21 million, a P/E ratio of -0.67 and a beta of 0.33.

Altisource Portfolio Solutions (NASDAQ:ASPS - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The business services provider reported ($0.02) earnings per share for the quarter.

Insider Buying and Selling at Altisource Portfolio Solutions

In related news, CEO William B. Shepro acquired 210,498 shares of the stock in a transaction dated Friday, March 28th. The stock was acquired at an average cost of $0.48 per share, with a total value of $101,039.04. Following the purchase, the chief executive officer now directly owns 310,498 shares of the company's stock, valued at approximately $149,039.04. This trade represents a 210.50 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Nantahala Capital Management LLC lifted its holdings in shares of Altisource Portfolio Solutions by 95.1% in the 4th quarter. Nantahala Capital Management LLC now owns 2,128,284 shares of the business services provider's stock worth $1,399,000 after acquiring an additional 1,037,275 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in Altisource Portfolio Solutions in the fourth quarter worth about $302,000. Finally, Geode Capital Management LLC boosted its position in shares of Altisource Portfolio Solutions by 8.9% during the fourth 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 period. 41.36% of the stock is 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.

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