Altisource Portfolio Solutions (NASDAQ:ASPS) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Altisource Portfolio Solutions (NASDAQ:ASPS) in a research report sent to investors on Saturday morning. The brokerage issued a sell rating on the business services provider’s stock.

Altisource Portfolio Solutions Trading Down 4.2 %

Shares of ASPS opened at $0.79 on Friday. The firm has a market capitalization of $68.75 million, a P/E ratio of -0.55 and a beta of 0.47. The firm has a 50-day moving average price of $0.79 and a 200 day moving average price of $0.84. Altisource Portfolio Solutions has a 12-month low of $0.22 and a 12-month high of $1.06.

Insiders Place Their Bets

In related news, CEO William B. Shepro acquired 210,498 shares of the firm’s stock in a transaction dated Friday, March 28th. The shares were purchased at an average cost 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. The trade was a 210.50 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Nantahala Capital Management LLC boosted its position in 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 buying an additional 1,037,275 shares during the period. Integrated Wealth Concepts LLC purchased a new position in Altisource Portfolio Solutions in the fourth quarter valued at $302,000. Finally, Geode Capital Management LLC grew its stake in 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 in the last quarter. 41.36% of the stock is currently owned by institutional investors and hedge funds.

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.