Altisource Portfolio Solutions (ASPS) Rating Increased to Buy at BidaskClub

Altisource Portfolio Solutions (NASDAQ:ASPS) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Wednesday.

Several other equities analysts have also commented on the stock. Northland Securities restated a “hold” rating and set a $26.00 price target on shares of Altisource Portfolio Solutions in a research report on Sunday, October 29th. Zacks Investment Research lowered shares of Altisource Portfolio Solutions from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $22.33.

Shares of Altisource Portfolio Solutions (NASDAQ ASPS) opened at $30.77 on Wednesday. The firm has a market cap of $532.31, a price-to-earnings ratio of 256.42, a price-to-earnings-growth ratio of 0.70 and a beta of 0.99. Altisource Portfolio Solutions has a twelve month low of $16.17 and a twelve month high of $46.99. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 6.46.

Altisource Portfolio Solutions (NASDAQ:ASPS) last issued its earnings results on Thursday, October 26th. The business services provider reported $0.73 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.73. The company had revenue of $235.00 million for the quarter, compared to analysts’ expectations of $215.40 million. Altisource Portfolio Solutions had a net margin of 0.23% and a return on equity of 81.23%. The firm’s revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 earnings per share. sell-side analysts anticipate that Altisource Portfolio Solutions will post 2.72 EPS for the current fiscal year.

In other news, CFO Indroneel Chatterjee purchased 1,200 shares of the stock in a transaction dated Tuesday, October 31st. The stock was acquired at an average price of $26.32 per share, for a total transaction of $31,584.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Deer Park Road Management Comp purchased 350,000 shares of the stock in a transaction dated Tuesday, January 9th. The shares were purchased at an average price of $27.93 per share, with a total value of $9,775,500.00. The disclosure for this purchase can be found here. Insiders have bought 434,683 shares of company stock valued at $11,892,719 in the last 90 days. Insiders own 6.75% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN grew its position in Altisource Portfolio Solutions by 0.4% in the 2nd quarter. Wells Fargo & Company MN now owns 10,463 shares of the business services provider’s stock valued at $228,000 after buying an additional 39 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Altisource Portfolio Solutions by 4.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,924 shares of the business services provider’s stock valued at $195,000 after buying an additional 358 shares in the last quarter. Teachers Advisors LLC grew its position in Altisource Portfolio Solutions by 7.1% in the 2nd quarter. Teachers Advisors LLC now owns 33,593 shares of the business services provider’s stock valued at $733,000 after buying an additional 2,223 shares in the last quarter. California Public Employees Retirement System grew its position in Altisource Portfolio Solutions by 8.1% in the 2nd quarter. California Public Employees Retirement System now owns 64,300 shares of the business services provider’s stock valued at $1,403,000 after buying an additional 4,800 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. grew its position in Altisource Portfolio Solutions by 8.5% in the 3rd quarter. Laurel Wealth Advisors Inc. now owns 63,986 shares of the business services provider’s stock valued at $1,654,000 after buying an additional 4,995 shares in the last quarter. Hedge funds and other institutional investors own 53.40% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This news story was first published by Stock Observer and is the property of of Stock Observer. If you are reading this news story on another website, it was illegally stolen and reposted in violation of United States & international trademark and copyright law. The legal version of this news story can be viewed at https://www.thestockobserver.com/2018/01/24/altisource-portfolio-solutions-asps-rating-increased-to-buy-at-bidaskclub.html.

Altisource Portfolio Solutions Company Profile

Altisource Portfolio Solutions SA is a marketplace and transaction solutions provider for the real estate, mortgage and consumer debt industries. The Company’s business processes, vendor and electronic payment management software and behavioral science-based analytics manage outcomes for marketplace participants.

Receive News & Ratings for Altisource Portfolio Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altisource Portfolio Solutions and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply