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

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

Altisource Portfolio Solutions Stock Performance

Shares of NASDAQ:ASPS opened at $0.84 on Tuesday. Altisource Portfolio Solutions has a 52 week low of $0.70 and a 52 week high of $4.60. The firm has a market cap of $22.83 million, a PE ratio of -0.59 and a beta of 0.94. The firm’s fifty day moving average is $1.07 and its 200-day moving average is $1.30.

Hedge Funds Weigh In On Altisource Portfolio Solutions

A hedge fund recently raised its stake in Altisource Portfolio Solutions stock. Deer Park Road Corp grew its position in shares of Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,277,138 shares of the business services provider’s stock after purchasing an additional 28,162 shares during the quarter. Altisource Portfolio Solutions comprises approximately 0.2% of Deer Park Road Corp’s investment portfolio, making the stock its 2nd largest position. Deer Park Road Corp owned approximately 15.86% of Altisource Portfolio Solutions worth $6,031,000 at the end of the most recent reporting period. 41.36% of the stock is currently owned by institutional investors.

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.