Altisource Portfolio Solutions (NASDAQ:ASPS) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Altisource Portfolio Solutions (NASDAQ:ASPS) in a research report sent to investors on Friday. The firm issued a sell rating on the business services provider’s stock.

Altisource Portfolio Solutions Trading Down 1.7 %

Shares of ASPS stock opened at $1.17 on Friday. Altisource Portfolio Solutions has a 12-month low of $0.99 and a 12-month high of $4.60. The firm’s 50 day moving average is $1.15 and its 200 day moving average is $1.42. The stock has a market capitalization of $31.54 million, a P/E ratio of -0.53 and a beta of 0.95.

Altisource Portfolio Solutions (NASDAQ:ASPS) last issued its earnings results on Thursday, July 25th. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.04. The company had revenue of $36.86 million during the quarter, compared to analysts’ expectations of $38.32 million. As a group, equities analysts predict that Altisource Portfolio Solutions will post -0.83 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Altisource Portfolio Solutions stock. Foundry Partners LLC lifted its position in shares of Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) by 3.8% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 617,274 shares of the business services provider’s stock after buying an additional 22,844 shares during the quarter. Foundry Partners LLC owned approximately 2.29% of Altisource Portfolio Solutions worth $1,198,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 41.36% of the company’s stock.

About Altisource Portfolio Solutions

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.