Altisource Portfolio Solutions (NASDAQ:ASPS) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Altisource Portfolio Solutions S.A. (NASDAQ:ASPS)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.52 and traded as high as $6.88. Altisource Portfolio Solutions shares last traded at $6.80, with a volume of 6,744 shares.

Analysts Set New Price Targets

ASPS has been the topic of several research reports. B. Riley Financial started coverage on shares of Altisource Portfolio Solutions in a research note on Thursday, April 2nd. They issued a “buy” rating and a $8.00 price target on the stock. Weiss Ratings downgraded shares of Altisource Portfolio Solutions from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Altisource Portfolio Solutions presently has an average rating of “Moderate Buy” and an average price target of $8.00.

Altisource Portfolio Solutions Stock Performance

The stock’s 50-day moving average is $6.56 and its two-hundred day moving average is $6.50. The stock has a market cap of $78.17 million, a PE ratio of 12.83 and a beta of 0.31.

Altisource Portfolio Solutions (NASDAQ:ASPS) last issued its quarterly earnings results on Tuesday, March 31st. The business services provider reported $0.19 earnings per share (EPS) for the quarter. Altisource Portfolio Solutions had a net margin of 3.61% and a negative return on equity of 2.50%. Analysts forecast that Altisource Portfolio Solutions S.A. will post 0.49 EPS for the current year.

Hedge Funds Weigh In On Altisource Portfolio Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Altisource Portfolio Solutions during the 1st quarter worth approximately $13,442,000. Deer Park Road Corp boosted its holdings in shares of Altisource Portfolio Solutions by 0.6% in the third quarter. Deer Park Road Corp now owns 1,485,539 shares of the business services provider’s stock valued at $17,321,000 after acquiring an additional 8,211 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Altisource Portfolio Solutions by 41.7% in the third quarter. Vanguard Group Inc. now owns 376,594 shares of the business services provider’s stock valued at $4,391,000 after acquiring an additional 110,888 shares during the period. Potomac Capital Management Inc. purchased a new position in shares of Altisource Portfolio Solutions during the fourth quarter worth approximately $700,000. Finally, XTX Topco Ltd purchased a new position in shares of Altisource Portfolio Solutions during the third quarter worth approximately $589,000. 41.36% of the stock is owned by institutional investors and hedge funds.

Altisource Portfolio Solutions Company Profile

Altisource Portfolio Solutions SA (NASDAQ: ASPS) is a provider of proprietary technology and specialized services to the mortgage and real estate industries. Founded in 2009, the company helps financial institutions, investors and loan servicers streamline processes across the full loan lifecycle, from origination and valuation through default management, asset disposition and investor reporting.

Core offerings include loan servicing and asset management solutions, property preservation and inspection services, valuation and due diligence, title and settlement services, as well as vendor management platforms.