Altisource Portfolio Solutions (NASDAQ:ASPS) Stock Price Breaks Above Fifty Day Moving Average – What’s Next?

Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $5.73 and traded as high as $5.92. Altisource Portfolio Solutions shares last traded at $5.85, with a volume of 23,522 shares changing hands.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Zacks Research raised Altisource Portfolio Solutions from a “strong sell” rating to a “hold” rating in a research report on Monday, September 21st. Weiss Ratings raised Altisource Portfolio Solutions from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Altisource Portfolio Solutions currently has an average rating of “Hold” and an average target price of $8.00.

Altisource Portfolio Solutions Stock Performance

The company has a market capitalization of $66.87 million, a PE ratio of -6.57 and a beta of 0.05. The stock’s 50 day moving average is $5.73 and its 200 day moving average is $6.18.

Altisource Portfolio Solutions (NASDAQ:ASPS) last released its quarterly earnings data on Thursday, October 29th. The business services provider reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05). Altisource Portfolio Solutions had a negative net margin of 5.10% and a negative return on equity of 2.43%. The business had revenue of $51.92 million during the quarter, compared to analysts’ expectations of $50.60 million. On average, equities research analysts forecast that Altisource Portfolio Solutions S.A. will post 0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Altisource Portfolio Solutions

A hedge fund recently bought a new stake in Altisource Portfolio Solutions stock. Integrated Wealth Concepts LLC acquired a new stake in shares of Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) during the second quarter, according to its most recent filing with the SEC. The fund acquired 27,903 shares of the business services provider’s stock, valued at approximately $209,000. Integrated Wealth Concepts LLC owned 0.24% of Altisource Portfolio Solutions as of its most recent filing with the SEC. Hedge funds and other institutional investors own 41.36% of the company’s stock.

Altisource Portfolio Solutions Company Profile

Altisource Portfolio Solutions SA (NASDAQ:ASPS) is a technology and services company that supports the mortgage and real estate industries. It provides software, marketplaces and related services designed to help mortgage lenders, servicers, investors and other participants manage loans, properties and real estate transactions.

The company’s offerings have included Hubzu, an online marketplace for buying and selling residential and commercial properties, along with platforms and services for asset management, property preservation, valuation, real estate brokerage and other mortgage-related processes.