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

Altisource Portfolio Solutions S.A. (NASDAQ:ASPS)’s stock price passed above its fifty day moving average during trading on Friday. The stock has a fifty 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 trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ASPS shares. Zacks Research raised shares of Altisource Portfolio Solutions from a “strong sell” rating to a “hold” rating in a report on Monday, September 21st. Weiss Ratings raised shares of Altisource Portfolio Solutions from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, October 26th. One investment 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 stock. According to MarketBeat, Altisource Portfolio Solutions has an average rating of “Hold” and a consensus price target of $8.00.

Altisource Portfolio Solutions Price Performance

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

Altisource Portfolio Solutions (NASDAQ:ASPS) last posted its quarterly earnings data on Thursday, October 29th. The business services provider reported $0.13 earnings per share (EPS) 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 firm had revenue of $51.92 million for the quarter, compared to analysts’ expectations of $50.60 million. On average, analysts forecast that Altisource Portfolio Solutions S.A. will post 0.17 EPS for the current year.

Institutional Trading of Altisource Portfolio Solutions

A hedge fund recently bought a new position in Altisource Portfolio Solutions stock. Integrated Wealth Concepts LLC acquired a new position in shares of Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 27,903 shares of the business services provider’s stock, valued at approximately $209,000. Integrated Wealth Concepts LLC owned approximately 0.24% of Altisource Portfolio Solutions at the end of the most recent reporting period. 41.36% of the stock is owned by hedge funds and other institutional investors.

About Altisource Portfolio Solutions

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.