Altisource Portfolio Solutions SA (ASPS) Trading 13.3% Higher
Altisource Portfolio Solutions SA (NASDAQ:ASPS) shares traded up 13.3% during mid-day trading on Wednesday . The stock traded as high as $30.00 and last traded at $29.40, with a volume of 1,407,410 shares trading hands. The stock had previously closed at $25.96.
Several research analysts recently issued reports on the company. Piper Jaffray Cos. lowered Altisource Portfolio Solutions SA from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $24.00 to $16.00 in a research report on Monday, May 2nd. Zacks Investment Research lowered Altisource Portfolio Solutions SA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 28th. Finally, Compass Point raised Altisource Portfolio Solutions SA from a “neutral” rating to a “buy” rating and increased their price objective for the company from $23.00 to $31.00 in a report on Wednesday.
The stock has a market cap of $549.74 million and a price-to-earnings ratio of 19.74. The firm’s 50-day moving average price is $26.24 and its 200 day moving average price is $26.85.
Altisource Portfolio Solutions SA (NASDAQ:ASPS) last released its earnings results on Thursday, July 21st. The company reported $1.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.68 by $0.10. During the same period in the previous year, the business posted $2.22 EPS. The company earned $241.30 million during the quarter, compared to analysts’ expectations of $239.10 million. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that Altisource Portfolio Solutions SA will post $5.93 EPS for the current fiscal year.
In related news, major shareholder William C. Erbey sold 150,000 shares of Altisource Portfolio Solutions SA stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $25.26, for a total value of $3,789,000.00. Following the completion of the transaction, the insider now directly owns 287,472 shares in the company, valued at $7,261,542.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder William C. Erbey sold 57,142 shares of Altisource Portfolio Solutions SA stock in a transaction on Monday, August 1st. The shares were sold at an average price of $23.81, for a total value of $1,360,551.02. Following the completion of the transaction, the insider now owns 800,709 shares of the company’s stock, valued at $19,064,881.29. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Altisource Portfolio Solutions SA stock. Dimensional Fund Advisors LP increased its position in shares of Altisource Portfolio Solutions SA (NASDAQ:ASPS) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 289,688 shares of the company’s stock after buying an additional 3,369 shares during the period. Dimensional Fund Advisors LP owned 1.50% of Altisource Portfolio Solutions SA worth $8,056,000 as of its most recent SEC filing.
Altisource Portfolio Solutions SA is a marketplace and transaction solutions provider for the real estate, mortgage and consumer debt industries. The Company operates through three segments: Mortgage Services, Financial Services and Technology Services. The Company’s Mortgage Services segment provides services that span the mortgage and real estate lifecycle, and are outsourced by loan servicers, loan originators, home investors, and other sellers and buyers of single family homes.
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