StockNews.com Initiates Coverage on Altisource Portfolio Solutions (NASDAQ:ASPS)

StockNews.com started coverage on shares of Altisource Portfolio Solutions (NASDAQ:ASPS) in a research note issued on Sunday. The brokerage set a “sell” rating on the business services provider’s stock.

Altisource Portfolio Solutions Trading Down 1.0 %

ASPS stock opened at $0.68 on Friday. The firm has a 50-day moving average of $0.76 and a two-hundred day moving average of $0.93. Altisource Portfolio Solutions has a 12 month low of $0.43 and a 12 month high of $3.17. The company has a market cap of $18.60 million, a price-to-earnings ratio of -0.48 and a beta of 0.90.

Hedge Funds Weigh In On Altisource Portfolio Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in shares of 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 acquiring an additional 16,390 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Altisource Portfolio Solutions in the fourth quarter valued at about $302,000. Finally, Nantahala Capital Management LLC grew its holdings in shares of 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. Institutional investors and hedge funds own 41.36% of the company’s stock.

Altisource Portfolio Solutions Company Profile

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.