Altisource Portfolio Solutions (NASDAQ:ASPS) Now Covered by StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Altisource Portfolio Solutions (NASDAQ:ASPS) in a note issued to investors on Thursday. The firm set a “sell” rating on the business services provider’s stock.

Altisource Portfolio Solutions Price Performance

NASDAQ ASPS opened at $0.80 on Thursday. The firm has a market capitalization of $21.78 million, a price-to-earnings ratio of -0.56 and a beta of 0.47. The company has a 50 day simple moving average of $0.78 and a 200-day simple moving average of $0.87. Altisource Portfolio Solutions has a 52-week low of $0.22 and a 52-week high of $1.06.

Insider Activity

In other news, CEO William B. Shepro purchased 210,498 shares of the business’s stock in a transaction dated Friday, March 28th. The stock was bought 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Altisource Portfolio Solutions

A number of hedge funds have recently added to or reduced their stakes in ASPS. Geode Capital Management LLC lifted its stake in Altisource Portfolio Solutions by 8.9% in the fourth quarter. Geode Capital Management LLC now owns 199,824 shares of the business services provider’s stock valued at $131,000 after acquiring an additional 16,390 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Altisource Portfolio Solutions during the fourth quarter valued at about $302,000. Finally, Nantahala Capital Management LLC raised its stake 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 valued at $1,399,000 after acquiring an additional 1,037,275 shares in the last quarter. 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.