Altisource Portfolio Solutions (NASDAQ:ASPS) Downgraded to Strong Sell Rating by Zacks Research

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

Other equities analysts also recently issued research reports about the company. B. Riley Financial assumed coverage on Altisource Portfolio Solutions in a report on Thursday, April 2nd. They set a “buy” rating and a $8.00 price target on the stock. Weiss Ratings downgraded shares of Altisource Portfolio Solutions from a “sell (d+)” rating to a “sell (e+)” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Altisource Portfolio Solutions has a consensus rating of “Hold” and an average price target of $8.00.

Altisource Portfolio Solutions Stock Performance

ASPS opened at $5.11 on Tuesday. The company has a market cap of $58.36 million, a PE ratio of -5.16 and a beta of 0.25. The stock has a 50-day moving average of $6.60 and a 200-day moving average of $6.42. Altisource Portfolio Solutions has a 52-week low of $4.30 and a 52-week high of $14.36.

Altisource Portfolio Solutions (NASDAQ:ASPS) last issued its quarterly earnings data on Thursday, July 23rd. The business services provider reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates 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%. The company had revenue of $50.66 million during the quarter, compared to the consensus estimate of $42.90 million. On average, research analysts predict that Altisource Portfolio Solutions will post 0.37 earnings per share for the current year.

Institutional Investors Weigh In On Altisource Portfolio Solutions

Hedge funds have recently modified their holdings of the business. Jane Street Group LLC bought a new position in Altisource Portfolio Solutions during the fourth quarter worth $75,000. Millennium Management LLC bought a new stake in Altisource Portfolio Solutions in the 3rd quarter valued at $141,000. XTX Topco Ltd acquired a new stake in Altisource Portfolio Solutions in the 3rd quarter worth $589,000. Potomac Capital Management Inc. acquired a new stake in Altisource Portfolio Solutions in the 4th quarter worth $700,000. Finally, Vanguard Group Inc. increased its holdings in shares of Altisource Portfolio Solutions by 41.7% during the 3rd quarter. Vanguard Group Inc. now owns 376,594 shares of the business services provider’s stock worth $4,391,000 after purchasing an additional 110,888 shares during the period. 41.36% of the stock is owned by institutional investors.

Altisource Portfolio Solutions Company Profile

Altisource Portfolio Solutions SA (NASDAQ: ASPS) is a provider of proprietary technology and specialized services to the mortgage and real estate industries. Founded in 2009, the company helps financial institutions, investors and loan servicers streamline processes across the full loan lifecycle, from origination and valuation through default management, asset disposition and investor reporting.

Core offerings include loan servicing and asset management solutions, property preservation and inspection services, valuation and due diligence, title and settlement services, as well as vendor management platforms.