Potomac Capital Management Inc. purchased a new stake in Altisource Portfolio Solutions S.A. (NASDAQ:ASPS – Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 100,737 shares of the business services provider’s stock, valued at approximately $700,000. Potomac Capital Management Inc. owned 0.92% of Altisource Portfolio Solutions at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in ASPS. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of Altisource Portfolio Solutions in the first quarter valued at approximately $13,442,000. Vanguard Group Inc. boosted its stake 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 buying an additional 110,888 shares during the period. Deer Park Road Corp boosted its stake 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 buying an additional 8,211 shares during the period. Millennium Management LLC bought a new stake in shares of Altisource Portfolio Solutions in the third quarter valued at approximately $141,000. Finally, XTX Topco Ltd bought a new stake in shares of Altisource Portfolio Solutions in the third quarter valued at approximately $589,000. 41.36% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have weighed in on ASPS. Weiss Ratings upgraded Altisource Portfolio Solutions from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, June 1st. B. Riley Financial began coverage on Altisource Portfolio Solutions in a research note on Thursday, April 2nd. They set a “buy” rating and a $8.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.00.
Altisource Portfolio Solutions Price Performance
NASDAQ ASPS opened at $6.34 on Wednesday. The business has a fifty day moving average price of $6.56 and a two-hundred day moving average price of $6.63. Altisource Portfolio Solutions S.A. has a fifty-two week low of $4.30 and a fifty-two week high of $15.96. The stock has a market capitalization of $71.52 million, a PE ratio of 11.74 and a beta of 0.31.
Altisource Portfolio Solutions (NASDAQ:ASPS – Get Free Report) last released 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 negative return on equity of 2.50% and a net margin of 3.61%. As a group, sell-side analysts expect that Altisource Portfolio Solutions S.A. will post 0.49 earnings per share for the current year.
About Altisource Portfolio Solutions
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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