Altisource Portfolio Solutions (NASDAQ:ASPS) Shares Gap Down – Should You Sell?

Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) shares gapped down prior to trading on Wednesday . The stock had previously closed at $6.38, but opened at $5.76. Altisource Portfolio Solutions shares last traded at $5.70, with a volume of 3,302 shares trading hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen initiated coverage on Altisource Portfolio Solutions in a research report on Wednesday, May 21st. They set a “sell” rating on the stock.

Altisource Portfolio Solutions Stock Up 3.4%

The stock has a market cap of $544.37 million, a price-to-earnings ratio of -4.31 and a beta of 0.33. The business has a 50-day moving average of $6.67 and a 200-day moving average of $6.33.

Altisource Portfolio Solutions (NASDAQ:ASPS) last announced its earnings results on Thursday, May 1st. The business services provider reported ($0.16) EPS for the quarter.

Insider Activity

In other news, CEO William B. Shepro bought 26,312 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The shares were acquired at an average price of $3.84 per share, for a total transaction of $101,038.08. Following the completion of the acquisition, the chief executive officer now directly owns 38,812 shares in the company, valued at approximately $149,038.08. This represents a 210.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Altisource Portfolio Solutions

Institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in Altisource Portfolio Solutions in the 1st quarter worth about $13,442,000. Nantahala Capital Management LLC grew its position in Altisource Portfolio Solutions by 16.4% in the 1st quarter. Nantahala Capital Management LLC now owns 2,477,312 shares of the business services provider’s stock worth $1,687,000 after purchasing an additional 349,028 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Altisource Portfolio Solutions in the 4th quarter worth about $302,000. Jefferies Financial Group Inc. bought a new stake in Altisource Portfolio Solutions in the 1st quarter worth about $214,000. Finally, Geode Capital Management LLC grew its position in Altisource Portfolio Solutions by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 199,824 shares of the business services provider’s stock worth $131,000 after purchasing an additional 16,390 shares in the last quarter. Institutional investors and hedge funds own 41.36% 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 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.