StockNews.com assumed coverage on shares of Altisource Asset Management (NYSEAMERICAN:AAMC – Get Rating) in a research note released on Monday. The firm issued a hold rating on the asset manager’s stock.
Altisource Asset Management Stock Performance
AAMC stock opened at $16.70 on Monday. The company has a market capitalization of $29.66 million, a price-to-earnings ratio of -24.93 and a beta of 1.46. Altisource Asset Management has a fifty-two week low of $8.65 and a fifty-two week high of $27.44. The stock has a fifty day moving average of $16.36 and a 200-day moving average of $14.08.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the business. Accretive Wealth Partners LLC purchased a new stake in Altisource Asset Management in the first quarter worth approximately $182,000. Laurel Wealth Advisors Inc. boosted its stake in Altisource Asset Management by 20.9% in the second quarter. Laurel Wealth Advisors Inc. now owns 36,964 shares of the asset manager’s stock worth $379,000 after buying an additional 6,380 shares in the last quarter. Finally, Biltmore Family Office LLC purchased a new stake in Altisource Asset Management in the first quarter worth approximately $507,000. Hedge funds and other institutional investors own 15.87% of the company’s stock.
Altisource Asset Management Company Profile
Altisource Asset Management Corporation is an alternative lending company that provides liquidity and capital to under-served market and portfolio management and corporate governance services to institutional investors in the United States. The company offers its services under an asset management agreement to Altisource Residential Corporation, which acquires and manages single-family rental properties for working class families.
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