Altisource Portfolio Solutions (NASDAQ:ASPS) Rating Lowered to Strong Sell at Zacks Research

Altisource Portfolio Solutions (NASDAQ:ASPS) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other research analysts have also weighed in on the company. B. Riley Financial initiated coverage on Altisource Portfolio Solutions in a research report on Thursday, April 2nd. They issued a “buy” rating and a $8.00 price objective for the company. Weiss Ratings cut Altisource Portfolio Solutions from a “sell (d+)” rating to a “sell (e+)” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Altisource Portfolio Solutions presently has an average rating of “Hold” and a consensus price target of $8.00.

Altisource Portfolio Solutions Stock Performance

NASDAQ:ASPS opened at $5.11 on Tuesday. The firm’s fifty day moving average is $6.60 and its 200-day moving average is $6.42. Altisource Portfolio Solutions has a 52 week low of $4.30 and a 52 week high of $14.36. The firm has a market cap of $58.36 million, a P/E ratio of -5.16 and a beta of 0.25.

Altisource Portfolio Solutions (NASDAQ:ASPS) last announced its earnings results on Thursday, July 23rd. The business services provider reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The firm had revenue of $50.66 million for the quarter, compared to the consensus estimate of $42.90 million. Altisource Portfolio Solutions had a negative return on equity of 1.69% and a negative net margin of 5.93%. As a group, sell-side analysts anticipate that Altisource Portfolio Solutions will post 0.37 earnings per share for the current year.

Institutional Trading of Altisource Portfolio Solutions

Several large investors have recently made changes to their positions in ASPS. Jane Street Group LLC acquired a new position in Altisource Portfolio Solutions during the 4th quarter worth approximately $75,000. Millennium Management LLC acquired a new position in shares of Altisource Portfolio Solutions during the third quarter worth approximately $141,000. XTX Topco Ltd acquired a new position in shares of Altisource Portfolio Solutions during the third quarter worth approximately $589,000. Potomac Capital Management Inc. bought a new position in shares of Altisource Portfolio Solutions in the 4th quarter worth $700,000. Finally, Vanguard Group Inc. grew its position in Altisource Portfolio Solutions by 41.7% in the 3rd quarter. Vanguard Group Inc. now owns 376,594 shares of the business services provider’s stock valued at $4,391,000 after purchasing an additional 110,888 shares during the period. 41.36% of the stock is currently 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.