Altisource Portfolio Solutions (NASDAQ:ASPS) Rating Increased to Buy at ValuEngine

Altisource Portfolio Solutions (NASDAQ:ASPS) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, ValuEngine reports.

Several other equities analysts have also recently issued reports on ASPS. Northland Securities restated a “hold” rating and issued a $30.00 price target on shares of Altisource Portfolio Solutions in a research report on Thursday, April 25th. BidaskClub upgraded Altisource Portfolio Solutions from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, Zacks Investment Research upgraded Altisource Portfolio Solutions from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Wednesday. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Altisource Portfolio Solutions has an average rating of “Buy” and an average price target of $27.00.

ASPS stock traded down $0.31 during trading on Thursday, hitting $20.48. The company had a trading volume of 50,557 shares, compared to its average volume of 44,736. The stock has a market cap of $327.68 million, a price-to-earnings ratio of -64.00 and a beta of 1.01. Altisource Portfolio Solutions has a 1-year low of $18.31 and a 1-year high of $37.86. The company has a 50-day simple moving average of $20.44. The company has a debt-to-equity ratio of 1.12, a quick ratio of 2.10 and a current ratio of 2.10.

Altisource Portfolio Solutions (NASDAQ:ASPS) last issued its quarterly earnings results on Thursday, July 25th. The business services provider reported ($0.36) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.92). The company had revenue of $196.54 million during the quarter, compared to analyst estimates of $169.90 million. Altisource Portfolio Solutions had a negative net margin of 1.52% and a negative return on equity of 3.95%. The business’s revenue was down 10.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 EPS. As a group, research analysts forecast that Altisource Portfolio Solutions will post 0.04 EPS for the current year.

In related news, Director W Michael Linn sold 5,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the transaction, the director now owns 19,147 shares in the company, valued at approximately $478,675. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 26.44% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Quadrant L P CA acquired a new position in Altisource Portfolio Solutions during the 2nd quarter worth approximately $38,000. BNP Paribas Arbitrage SA increased its position in Altisource Portfolio Solutions by 274.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,945 shares of the business services provider’s stock worth $46,000 after purchasing an additional 1,426 shares during the period. Bank of America Corp DE increased its position in Altisource Portfolio Solutions by 115.6% during the 4th quarter. Bank of America Corp DE now owns 10,874 shares of the business services provider’s stock worth $244,000 after purchasing an additional 5,831 shares during the period. Two Sigma Advisers LP increased its position in Altisource Portfolio Solutions by 19.1% during the 4th quarter. Two Sigma Advisers LP now owns 20,600 shares of the business services provider’s stock worth $463,000 after purchasing an additional 3,298 shares during the period. Finally, Millennium Management LLC acquired a new position in Altisource Portfolio Solutions during the 4th quarter worth approximately $484,000. Institutional investors own 58.79% of the company’s stock.

About Altisource Portfolio Solutions

Altisource Portfolio Solutions SA operates as an integrated service provider and marketplace for the real estate and mortgage industries in the United States and internationally. It operates in two segments, Mortgage Market and Real Estate Market. The company offers property preservation and inspection, real estate brokerage and auction, title insurance and settlement, appraisal management, broker and non-broker valuation, foreclosure trustee, mortgage charge-off collection, residential and commercial loan disbursement processing, and residential and commercial construction inspection and risk mitigation services, as well as valuation data; residential and commercial loan servicing, vendor management, marketplace transaction and payment management, and default services technologies; and document management platform.

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