Altisource Portfolio Solutions (NASDAQ:ASPS) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

Altisource Portfolio Solutions S.A. (NASDAQ:ASPSGet Free Report)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.47 and traded as high as $7.13. Altisource Portfolio Solutions shares last traded at $7.09, with a volume of 5,105 shares changing hands.

Analyst Ratings Changes

A number of research analysts have commented on the stock. B. Riley Financial assumed coverage on shares of Altisource Portfolio Solutions in a research report on Thursday, April 2nd. They issued a “buy” rating and a $8.00 target price on the stock. Weiss Ratings upgraded shares of Altisource Portfolio Solutions from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Altisource Portfolio Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $8.00.

Get Our Latest Research Report on ASPS

Altisource Portfolio Solutions Stock Up 1.4%

The firm has a 50-day moving average price of $6.69 and a 200 day moving average price of $6.47. The firm has a market capitalization of $80.65 million, a PE ratio of 13.24 and a beta of 0.25.

Altisource Portfolio Solutions (NASDAQ:ASPSGet Free Report) last announced its earnings results on Tuesday, March 31st. The business services provider reported $0.19 earnings per share for the quarter. Altisource Portfolio Solutions had a net margin of 3.61% and a negative return on equity of 2.50%. Equities research analysts expect that Altisource Portfolio Solutions S.A. will post 0.49 earnings per share for the current year.

Hedge Funds Weigh In On Altisource Portfolio Solutions

Several hedge funds have recently made changes to their positions in the company. Jane Street Group LLC acquired a new stake in shares of Altisource Portfolio Solutions in the 4th quarter worth $75,000. Millennium Management LLC purchased a new position in Altisource Portfolio Solutions during the third quarter worth about $141,000. XTX Topco Ltd purchased a new position in Altisource Portfolio Solutions during the third quarter worth about $589,000. Potomac Capital Management Inc. acquired a new stake in Altisource Portfolio Solutions in the fourth quarter valued at about $700,000. Finally, Vanguard Group Inc. lifted its position in 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 purchasing an additional 110,888 shares during the period. Hedge funds and other institutional investors own 41.36% of the company’s stock.

About Altisource Portfolio Solutions

(Get Free Report)

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.

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