Altisource Portfolio Solutions (NASDAQ:ASPS) Cut to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Altisource Portfolio Solutions (NASDAQ:ASPS) from a hold rating to a sell rating in a research note released on Wednesday morning, Zacks.com reports.

According to Zacks, “Altisource Portfolio Solutions S.A., together with its subsidiaries, is engaged in provision of real estate mortgage portfolio management and related technology products, as well as asset recovery and customer relationship management services. The Company has three segments: Mortgage Services, Financial Services and Technology Products. Mortgage Services provides valuation, real estate sales, default processing services, property inspection and preservation services, homeowner outreach, closing and title services and knowledge process outsourcing services. Financial Services comprises the Company’s asset recovery management and customer relationship management offerings to the financial services, consumer products, telecommunications and utilities industries. Technology Products is engaged in the design, development and delivery of technology products and services to the mortgage industry. “

Several other research analysts have also recently weighed in on the stock. B. Riley reissued a buy rating and issued a $15.00 price target on shares of Altisource Portfolio Solutions in a report on Tuesday, June 16th. ValuEngine raised shares of Altisource Portfolio Solutions from a buy rating to a strong-buy rating in a research report on Tuesday, April 14th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Altisource Portfolio Solutions currently has a consensus rating of Hold and an average price target of $16.00.

Altisource Portfolio Solutions stock traded up $1.43 during trading hours on Wednesday, reaching $9.85. 543,819 shares of the company were exchanged, compared to its average volume of 135,834. The firm has a market cap of $134.26 million, a price-to-earnings ratio of -0.44 and a beta of 1.60. The stock has a 50-day moving average of $12.99 and a 200 day moving average of $12.38. Altisource Portfolio Solutions has a 12 month low of $6.00 and a 12 month high of $23.58.

Altisource Portfolio Solutions (NASDAQ:ASPS) last issued its quarterly earnings data on Thursday, August 6th. The business services provider reported ($0.76) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.57) by ($0.19). Altisource Portfolio Solutions had a negative return on equity of 808.90% and a negative net margin of 69.27%. Equities research analysts forecast that Altisource Portfolio Solutions will post -2.13 earnings per share for the current fiscal year.

In related news, CEO William B. Shepro acquired 11,600 shares of the stock in a transaction on Wednesday, August 12th. The shares were acquired at an average price of $8.68 per share, with a total value of $100,688.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 30.57% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. UBS Group AG raised its holdings in Altisource Portfolio Solutions by 35.4% in the 4th quarter. UBS Group AG now owns 7,012 shares of the business services provider’s stock worth $135,000 after acquiring an additional 1,834 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Altisource Portfolio Solutions by 31.7% in the first quarter. Russell Investments Group Ltd. now owns 10,913 shares of the business services provider’s stock worth $82,000 after purchasing an additional 2,624 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Altisource Portfolio Solutions by 108.3% during the second quarter. Bank of America Corp DE now owns 11,443 shares of the business services provider’s stock valued at $169,000 after purchasing an additional 149,475 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of Altisource Portfolio Solutions by 14.0% during the first quarter. Parametric Portfolio Associates LLC now owns 11,678 shares of the business services provider’s stock valued at $90,000 after buying an additional 1,430 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in Altisource Portfolio Solutions by 6.8% in the 2nd quarter. First Trust Advisors LP now owns 18,107 shares of the business services provider’s stock worth $267,000 after buying an additional 1,149 shares in the last quarter. Hedge funds and other institutional investors own 52.96% of the company’s stock.

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 and internationally. 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, mortgage charge-off collection, residential and commercial loan disbursement processing, and residential and commercial construction inspection and risk mitigation services, as well as valuation data; residential and commercial loan servicing, vendor management, marketplace transaction and payment management, and default services technologies; and document management platform.

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