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

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

Altisource Portfolio Solutions Stock Down 27.2 %

Shares of NASDAQ:ASPS opened at $0.84 on Friday. The company has a market cap of $22.79 million, a price-to-earnings ratio of -0.59 and a beta of 0.90. The firm’s 50-day simple moving average is $0.75 and its 200-day simple moving average is $0.97. Altisource Portfolio Solutions has a fifty-two week low of $0.43 and a fifty-two week high of $3.17.

Institutional Trading of Altisource Portfolio Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in shares of Altisource Portfolio Solutions by 8.9% in the fourth quarter. Geode Capital Management LLC now owns 199,824 shares of the business services provider’s stock valued at $131,000 after acquiring an additional 16,390 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Altisource Portfolio Solutions in the fourth quarter valued at about $302,000. Finally, Nantahala Capital Management LLC lifted its stake 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. 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.