Zacks Investment Research lowered shares of Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.
According to Zacks, “Altisource Portfolio Solutions S.A., together with its subsidiaries, is engaged in provision of real estate mortgage portfolio management and related technology products, as well as asset recovery and customer relationship management services. The Company has three segments: Mortgage Services, Financial Services and Technology Products. Mortgage Services provides valuation, real estate sales, default processing services, property inspection and preservation services, homeowner outreach, closing and title services and knowledge process outsourcing services. Financial Services comprises the Company’s asset recovery management and customer relationship management offerings to the financial services, consumer products, telecommunications and utilities industries. Technology Products is engaged in the design, development and delivery of technology products and services to the mortgage industry. “
Several other equities research analysts have also recently commented on the stock. TheStreet raised shares of Altisource Portfolio Solutions from a d+ rating to a c- rating in a research report on Monday, August 14th. Northland Securities reaffirmed a hold rating and issued a $23.00 price objective on shares of Altisource Portfolio Solutions in a research report on Friday, August 11th. BidaskClub cut shares of Altisource Portfolio Solutions from a strong-buy rating to a buy rating in a research report on Monday, August 7th. ValuEngine raised shares of Altisource Portfolio Solutions from a buy rating to a strong-buy rating in a research report on Friday, July 28th. Finally, Compass Point raised shares of Altisource Portfolio Solutions from a sell rating to a neutral rating and boosted their price objective for the company from $7.00 to $15.00 in a research report on Tuesday, July 25th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Altisource Portfolio Solutions has a consensus rating of Buy and an average price target of $21.33.
Altisource Portfolio Solutions (NASDAQ:ASPS) traded up 0.45% during mid-day trading on Tuesday, hitting $26.67. The stock had a trading volume of 7,777 shares. Altisource Portfolio Solutions has a 1-year low of $16.17 and a 1-year high of $46.99. The company has a 50-day moving average price of $24.54 and a 200 day moving average price of $24.64. The company has a market cap of $481.34 million, a P/E ratio of 88.31 and a beta of 0.78.
Altisource Portfolio Solutions (NASDAQ:ASPS) last announced its quarterly earnings results on Wednesday, August 9th. The business services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.19. The company had revenue of $250.69 million during the quarter, compared to analyst estimates of $239.30 million. Altisource Portfolio Solutions had a net margin of 0.60% and a return on equity of 82.95%. The firm’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.58 EPS. Equities research analysts forecast that Altisource Portfolio Solutions will post $2.83 EPS for the current fiscal year.
In related news, Director Orin S. Kramer acquired 25,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were acquired at an average cost of $22.34 per share, with a total value of $558,500.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 6.75% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of ASPS. The Manufacturers Life Insurance Company lifted its position in Altisource Portfolio Solutions by 4.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,924 shares of the business services provider’s stock valued at $195,000 after acquiring an additional 358 shares in the last quarter. KCG Holdings Inc. bought a new stake in Altisource Portfolio Solutions in the 1st quarter valued at $201,000. Wells Fargo & Company MN lifted its position in Altisource Portfolio Solutions by 0.4% in the 2nd quarter. Wells Fargo & Company MN now owns 10,463 shares of the business services provider’s stock valued at $228,000 after acquiring an additional 39 shares in the last quarter. Parametric Portfolio Associates LLC bought a new stake in Altisource Portfolio Solutions in the 1st quarter valued at $244,000. Finally, American International Group Inc. lifted its position in Altisource Portfolio Solutions by 7.1% in the 1st quarter. American International Group Inc. now owns 7,115 shares of the business services provider’s stock valued at $262,000 after acquiring an additional 473 shares in the last quarter. 54.85% of the stock is currently owned by institutional investors and hedge funds.
Altisource Portfolio Solutions Company Profile
Altisource Portfolio Solutions SA is a marketplace and transaction solutions provider for the real estate, mortgage and consumer debt industries. The Company’s business processes, vendor and electronic payment management software and behavioral science-based analytics manage outcomes for marketplace participants.
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