Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 3,288,026 shares, a decline of 2.1% from the July 13th total of 3,358,525 shares. Approximately 41.9% of the company’s stock are short sold. Based on an average daily trading volume, of 65,785 shares, the short-interest ratio is presently 50.0 days.
A number of large investors have recently added to or reduced their stakes in the business. CQS Cayman LP grew its position in Altisource Portfolio Solutions by 46.3% during the 2nd quarter. CQS Cayman LP now owns 95,090 shares of the business services provider’s stock worth $2,773,000 after purchasing an additional 30,090 shares during the last quarter. Renaissance Technologies LLC grew its position in Altisource Portfolio Solutions by 18.3% during the 2nd quarter. Renaissance Technologies LLC now owns 560,500 shares of the business services provider’s stock worth $16,350,000 after purchasing an additional 86,600 shares during the last quarter. BlackRock Inc. grew its position in Altisource Portfolio Solutions by 2.0% during the 2nd quarter. BlackRock Inc. now owns 796,910 shares of the business services provider’s stock worth $23,246,000 after purchasing an additional 15,707 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in Altisource Portfolio Solutions by 5.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 161,522 shares of the business services provider’s stock worth $4,712,000 after purchasing an additional 8,591 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in Altisource Portfolio Solutions during the 2nd quarter worth approximately $233,000. 68.58% of the stock is currently owned by institutional investors.
A number of research analysts have recently issued reports on ASPS shares. Zacks Investment Research downgraded shares of Altisource Portfolio Solutions from a “hold” rating to a “strong sell” rating in a research report on Monday, April 30th. BidaskClub raised shares of Altisource Portfolio Solutions from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 23rd.
Altisource Portfolio Solutions (NASDAQ:ASPS) last released its earnings results on Thursday, July 26th. The business services provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.05). The company had revenue of $218.56 million for the quarter, compared to analysts’ expectations of $225.00 million. Altisource Portfolio Solutions had a return on equity of 12.90% and a net margin of 34.66%. The firm’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 EPS. equities research analysts expect that Altisource Portfolio Solutions will post 0.21 earnings per share for the current fiscal year.
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. It operates in two segments, Mortgage Market and Real Estate Market. The company offers property preservation and inspection, real estate brokerage and auction, title insurance and settlement, appraisal management, broker and non-broker valuation, foreclosure trustee, residential and commercial loan servicing technology, vendor management, marketplace transaction and payment management technology, document management platform, default services technology, and mortgage charge-off collection services.
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