Altisource Portfolio Solutions SA (ASPS) Shares Up 1.6%
Altisource Portfolio Solutions SA (NASDAQ:ASPS) shot up 1.6% during trading on Tuesday . The stock traded as high as $32.33 and last traded at $32.07, with a volume of 238,751 shares trading hands. The stock had previously closed at $31.57.
ASPS has been the topic of several recent research reports. Piper Jaffray Cos. lowered Altisource Portfolio Solutions SA from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $24.00 to $16.00 in a research report 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 target on the stock in a research report on Wednesday, June 15th. Finally, Compass Point upgraded Altisource Portfolio Solutions SA from a “neutral” rating to a “buy” rating and raised their price target for the stock from $23.00 to $31.00 in a research report on Wednesday, August 10th.
The company has a market cap of $571.94 million and a price-to-earnings ratio of 20.53. The stock has a 50-day moving average of $26.77 and a 200-day moving average of $26.94.
Altisource Portfolio Solutions SA (NASDAQ:ASPS) last released its earnings results on Thursday, July 21st. The company reported $1.58 earnings per share for the quarter, missing the consensus estimate of $1.68 by $0.10. The business earned $241.30 million during the quarter, compared to analysts’ expectations of $239.10 million. Altisource Portfolio Solutions SA’s revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.22 EPS. Equities research analysts anticipate that Altisource Portfolio Solutions SA will post $5.93 earnings per share for the current fiscal year.
In other Altisource Portfolio Solutions SA news, major shareholder Omega Advisors Inc. bought 172,804 shares of the business’s stock in a transaction on Thursday, July 28th. The stock was purchased at an average cost of $23.88 per share, for a total transaction of $4,126,559.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder William C. Erbey sold 136,763 shares of the company’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $29.13, for a total value of $3,983,906.19. Following the sale, the insider now owns 709 shares of the company’s stock, valued at $20,653.17. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Altisource Portfolio Solutions SA stock. Connor Clark & Lunn Investment Management Ltd. raised its stake in Altisource Portfolio Solutions SA (NASDAQ:ASPS) by 61.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund 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 approximately 0.42% of Altisource Portfolio Solutions SA worth $2,251,000 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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