Altisource Portfolio Solutions (NASDAQ:ASPS) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Altisource Portfolio Solutions (NASDAQ:ASPS) from a strong sell rating to a hold rating in a report published on Monday morning,Zacks reports.

Separately, Weiss Ratings lowered Altisource Portfolio Solutions from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.00.

Altisource Portfolio Solutions Trading Down 1.1%

ASPS stock opened at $5.62 on Monday. The stock has a 50-day moving average price of $5.69 and a 200-day moving average price of $6.33. Altisource Portfolio Solutions has a 1-year low of $4.30 and a 1-year high of $14.36. The firm has a market cap of $64.18 million, a PE ratio of -5.68 and a beta of 0.24.

Altisource Portfolio Solutions (NASDAQ:ASPS) last announced its earnings results on Thursday, July 23rd. The business services provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.03). Altisource Portfolio Solutions had a negative net margin of 5.93% and a negative return on equity of 1.69%. On average, analysts forecast that Altisource Portfolio Solutions will post 0.37 earnings per share for the current year.

Insider Activity

In other news, major shareholder Benefit Street Partners Llc bought 48,991 shares of Altisource Portfolio Solutions stock in a transaction dated Monday, August 3rd. The stock was bought at an average cost of $5.78 per share, for a total transaction of $283,167.98. Following the purchase, the insider directly owned 1,803,045 shares in the company, valued at approximately $10,421,600.10. This represents a 2.79% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have bought 57,701 shares of company stock worth $329,182. 19.07% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Altisource Portfolio Solutions stock. Potomac Capital Management Inc. acquired a new stake in shares of Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 100,737 shares of the business services provider’s stock, valued at approximately $700,000. Potomac Capital Management Inc. owned approximately 0.92% of Altisource Portfolio Solutions as of its most recent SEC filing. Institutional investors and hedge funds own 41.36% of the company’s stock.

Altisource Portfolio Solutions Company Profile

Altisource Portfolio Solutions SA (NASDAQ:ASPS) provides technology, marketplace and related services to the mortgage and real estate industries. The company supports lenders, investors, real estate professionals and consumers through platforms designed to facilitate property marketing, transactions, asset management and other aspects of the real estate lifecycle.

Its offerings have included Hubzu, an online marketplace for buying and selling residential real estate, along with software and workflow solutions for default management, property disposition and related mortgage processes.