Altisource Portfolio Solutions (NASDAQ:ASPS) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Altisource Portfolio Solutions (NASDAQ:ASPS) in a research note released on Tuesday. The firm issued a sell rating on the business services provider’s stock.

Altisource Portfolio Solutions Stock Performance

Altisource Portfolio Solutions stock opened at $0.80 on Tuesday. The stock has a 50-day moving average of $0.84 and a two-hundred day moving average of $0.81. Altisource Portfolio Solutions has a one year low of $0.22 and a one year high of $1.14. The stock has a market cap of $69.98 million, a PE ratio of -0.56 and a beta of 0.33.

Altisource Portfolio Solutions’s stock is going to reverse split on the morning of Wednesday, May 28th. The 1-8 reverse split was announced on Tuesday, May 13th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, May 27th.

Altisource Portfolio Solutions (NASDAQ:ASPS) last announced its quarterly earnings data on Thursday, May 1st. The business services provider reported ($0.02) earnings per share for the quarter.

Insider Activity

In related news, CEO William B. Shepro bought 210,498 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The shares were purchased at an average cost of $0.48 per share, with a total value of $101,039.04. Following the completion of the acquisition, the chief executive officer now directly owns 310,498 shares in the company, valued at approximately $149,039.04. The trade was a 210.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of Altisource Portfolio Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in Altisource Portfolio Solutions by 8.9% during the fourth quarter. Geode Capital Management LLC now owns 199,824 shares of the business services provider’s stock worth $131,000 after acquiring an additional 16,390 shares during the period. Nantahala Capital Management LLC grew its holdings in Altisource Portfolio Solutions by 95.1% in the fourth quarter. Nantahala Capital Management LLC now owns 2,128,284 shares of the business services provider’s stock valued at $1,399,000 after purchasing an additional 1,037,275 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Altisource Portfolio Solutions in the fourth quarter valued at approximately $302,000. XTX Topco Ltd grew its holdings in Altisource Portfolio Solutions by 306.4% in the first quarter. XTX Topco Ltd now owns 80,818 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 60,933 shares during the period. Finally, Jefferies Financial Group Inc. purchased a new position in shares of Altisource Portfolio Solutions in the first quarter valued at approximately $214,000. 41.36% of the stock is owned by institutional investors and hedge funds.

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 through Servicer and Real Estate, and Origination segments. The Servicer and Real Estate segment offers property preservation, inspection, title insurance and settlement, real estate valuation, foreclosure trustee, and residential and commercial construction inspection and risk mitigation services.