Altisource Portfolio Solutions SA (ASPS) Trading Up 1.6%
Altisource Portfolio Solutions SA (NASDAQ:ASPS)’s share price was up 1.6% during mid-day trading on Tuesday . The stock traded as high as $32.33 and last traded at $32.07, with a volume of 238,751 shares changing hands. The stock had previously closed at $31.57.
Several equities analysts recently issued reports on ASPS shares. Piper Jaffray Cos. lowered Altisource Portfolio Solutions SA from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $24.00 to $16.00 in a research note on Monday, May 2nd. Zacks Investment Research upgraded Altisource Portfolio Solutions SA from a “hold” rating to a “strong-buy” rating and set a $29.00 price objective on the stock in a research note on Wednesday, June 15th. Finally, Compass Point upgraded Altisource Portfolio Solutions SA from a “neutral” rating to a “buy” rating and upped their price objective for the company from $23.00 to $31.00 in a research note on Wednesday, August 10th.
The firm’s 50 day moving average is $26.45 and its 200-day moving average is $26.89. The company has a market cap of $572.31 million and a P/E ratio of 20.55.
Altisource Portfolio Solutions SA (NASDAQ:ASPS) last issued its earnings results on Thursday, July 21st. The company reported $1.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.68 by $0.10. During the same period in the prior year, the business earned $2.22 EPS. The company had revenue of $241.30 million for the quarter, compared to analyst estimates of $239.10 million. The business’s revenue was down 4.7% compared to the same quarter last year. Equities research analysts predict that Altisource Portfolio Solutions SA will post $5.93 earnings per share for the current year.
In related news, major shareholder William C. Erbey sold 174,398 shares of the firm’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $24.14, for a total value of $4,209,967.72. Following the completion of the sale, the insider now directly owns 709 shares in the company, valued at approximately $17,115.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Omega Advisors Inc. bought 172,804 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was purchased at an average price of $23.88 per share, with a total value of $4,126,559.52. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake in Altisource Portfolio Solutions SA stock. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Altisource Portfolio Solutions SA (NASDAQ:ASPS) by 61.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,950 shares of the company’s stock after buying an additional 30,700 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.42% of Altisource Portfolio Solutions SA worth $2,251,000 at the end of the most recent quarter.
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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