Altisource Portfolio Solutions (NASDAQ:ASPS) Major Shareholder Purchases 48,991 Shares of Stock

Altisource Portfolio Solutions S.A. (NASDAQ:ASPSGet Free Report) major shareholder Benefit Street Partners Llc purchased 48,991 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were purchased at an average cost of $5.78 per share, with a total value of $283,167.98. Following the completion of the acquisition, the insider directly owned 1,803,045 shares in the company, valued at $10,421,600.10. The trade was a 2.79% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Benefit Street Partners Llc also recently made the following trade(s):

  • On Friday, July 31st, Benefit Street Partners Llc purchased 1,009 shares of Altisource Portfolio Solutions stock. The stock was bought at an average cost of $5.43 per share, with a total value of $5,478.87.

Altisource Portfolio Solutions Trading Down 5.9%

Altisource Portfolio Solutions stock traded down $0.33 during mid-day trading on Tuesday, hitting $5.25. The stock had a trading volume of 32,492 shares, compared to its average volume of 26,812. The stock has a 50-day simple moving average of $6.56 and a two-hundred day simple moving average of $6.40. The stock has a market capitalization of $59.95 million, a PE ratio of -5.30 and a beta of 0.27. Altisource Portfolio Solutions S.A. has a 12 month low of $4.30 and a 12 month high of $14.36.

Altisource Portfolio Solutions (NASDAQ:ASPSGet Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The business services provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.03). Altisource Portfolio Solutions had a negative return on equity of 1.69% and a negative net margin of 5.93%. Sell-side analysts expect that Altisource Portfolio Solutions S.A. will post 0.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ASPS has been the topic of several analyst reports. Weiss Ratings lowered shares of Altisource Portfolio Solutions from a “sell (d+)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. Zacks Research lowered shares of Altisource Portfolio Solutions from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Altisource Portfolio Solutions has a consensus rating of “Hold” and an average price target of $8.00.

Check Out Our Latest Stock Analysis on Altisource Portfolio Solutions

Hedge Funds Weigh In On Altisource Portfolio Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of Altisource Portfolio Solutions during the 1st quarter worth about $13,442,000. Vanguard Group Inc. raised its position in shares of 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 acquiring an additional 110,888 shares during the period. Potomac Capital Management Inc. acquired a new stake in shares of Altisource Portfolio Solutions in the 4th quarter valued at approximately $700,000. XTX Topco Ltd bought a new position in Altisource Portfolio Solutions during the 3rd quarter worth approximately $589,000. Finally, Millennium Management LLC bought a new position in Altisource Portfolio Solutions during the 3rd quarter worth approximately $141,000. 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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