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

Analysts at StockNews.com initiated coverage on shares of Altisource Portfolio Solutions (NASDAQ:ASPS - Get Free Report) in a report released on Tuesday. The firm set a "sell" rating on the business services provider's stock.

Altisource Portfolio Solutions Stock Performance

Shares of NASDAQ ASPS traded up $0.01 during midday trading on Tuesday, reaching $0.81. The stock had a trading volume of 106,577 shares, compared to its average volume of 266,939. The stock has a 50-day moving average of $0.84 and a 200-day moving average of $0.80. The company has a market capitalization of $70.77 million, a price-to-earnings ratio of -0.57 and a beta of 0.33. Altisource Portfolio Solutions has a 12-month low of $0.22 and a 12-month high of $1.14.

Altisource Portfolio Solutions's stock is set to reverse split on Wednesday, May 28th. The 1-8 reverse split was announced on Tuesday, May 13th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, May 27th.

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

Insider Activity

In other Altisource Portfolio Solutions news, CEO William B. Shepro purchased 210,498 shares of the business's stock in a transaction that occurred on Friday, March 28th. The shares were bought at an average price of $0.48 per share, for a total transaction of $101,039.04. Following the acquisition, the chief executive officer now owns 310,498 shares in the company, valued at $149,039.04. This represents a 210.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.30% of the company's stock.

Hedge Funds Weigh In On Altisource Portfolio Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of the business. XTX Topco Ltd grew its stake in shares of Altisource Portfolio Solutions by 306.4% during the 1st quarter. XTX Topco Ltd now owns 80,818 shares of the business services provider's stock worth $55,000 after purchasing an additional 60,933 shares during the period. Geode Capital Management LLC grew its stake in shares of Altisource Portfolio Solutions by 8.9% during the 4th quarter. Geode Capital Management LLC now owns 199,824 shares of the business services provider's stock worth $131,000 after purchasing an additional 16,390 shares during the period. Jefferies Financial Group Inc. acquired a new stake in shares of Altisource Portfolio Solutions during the 1st quarter worth approximately $214,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Altisource Portfolio Solutions during the 4th quarter worth approximately $302,000. Finally, Nantahala Capital Management LLC grew its stake in shares of Altisource Portfolio Solutions by 95.1% during 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 purchasing an additional 1,037,275 shares during the period. Institutional investors and hedge funds own 41.36% of the company's stock.

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.