Altisource Portfolio Solutions (NASDAQ:ASPS) Cut to Strong Sell at Zacks Research

Altisource Portfolio Solutions (NASDAQ:ASPS) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the stock. B. Riley Financial initiated coverage on shares of Altisource Portfolio Solutions in a research note on Thursday, April 2nd. They set a “buy” rating and a $8.00 target price on the stock. Weiss Ratings lowered shares of Altisource Portfolio Solutions from a “sell (d+)” rating to a “sell (e+)” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Altisource Portfolio Solutions presently has a consensus rating of “Hold” and an average target price of $8.00.

Altisource Portfolio Solutions Stock Performance

ASPS opened at $5.11 on Tuesday. The stock has a market capitalization of $58.36 million, a PE ratio of -5.16 and a beta of 0.25. The stock’s 50 day moving average price is $6.60 and its 200-day moving average price is $6.42. Altisource Portfolio Solutions has a 52-week low of $4.30 and a 52-week high of $14.36.

Altisource Portfolio Solutions (NASDAQ:ASPS) last announced its quarterly 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). The business had revenue of $50.66 million during the quarter, compared to analysts’ expectations of $42.90 million. Altisource Portfolio Solutions had a negative return on equity of 1.69% and a negative net margin of 5.93%. Research analysts forecast that Altisource Portfolio Solutions will post 0.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Altisource Portfolio Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC bought a new stake in shares of Altisource Portfolio Solutions during the 4th quarter valued at $75,000. Millennium Management LLC purchased a new stake in shares of Altisource Portfolio Solutions in the 3rd quarter worth about $141,000. XTX Topco Ltd bought a new position in shares of Altisource Portfolio Solutions in the 3rd quarter worth about $589,000. Potomac Capital Management Inc. bought a new position in shares of Altisource Portfolio Solutions in the 4th quarter worth about $700,000. Finally, Vanguard Group Inc. lifted its position in Altisource Portfolio Solutions by 41.7% during the 3rd quarter. Vanguard Group Inc. now owns 376,594 shares of the business services provider’s stock valued at $4,391,000 after acquiring an additional 110,888 shares during the period. Hedge funds and other institutional investors own 41.36% of the company’s stock.

Altisource Portfolio Solutions Company Profile

Altisource Portfolio Solutions SA (NASDAQ: ASPS) is a provider of proprietary technology and specialized services to the mortgage and real estate industries. Founded in 2009, the company helps financial institutions, investors and loan servicers streamline processes across the full loan lifecycle, from origination and valuation through default management, asset disposition and investor reporting.

Core offerings include loan servicing and asset management solutions, property preservation and inspection services, valuation and due diligence, title and settlement services, as well as vendor management platforms.