Altisource Portfolio Solutions (NASDAQ:ASPS) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Altisource Portfolio Solutions (NASDAQ:ASPS) in a research note issued on Thursday. The firm set a “sell” rating on the business services provider’s stock.

Altisource Portfolio Solutions Trading Down 0.8 %

Altisource Portfolio Solutions stock opened at $1.20 on Thursday. Altisource Portfolio Solutions has a 52 week low of $0.99 and a 52 week high of $4.70. The company’s 50-day moving average price is $1.14 and its two-hundred day moving average price is $1.45. The stock has a market cap of $32.35 million, a price-to-earnings ratio of -0.54 and a beta of 0.95.

Altisource Portfolio Solutions (NASDAQ:ASPS) last announced its earnings results on Thursday, July 25th. The business services provider reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.04. The firm had revenue of $36.86 million during the quarter, compared to analyst estimates of $38.32 million. Research analysts expect that Altisource Portfolio Solutions will post -0.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Altisource Portfolio Solutions

A hedge fund recently raised its stake in Altisource Portfolio Solutions stock. Deer Park Road Corp boosted its stake in shares of Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) by 0.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,277,138 shares of the business services provider’s stock after acquiring an additional 28,162 shares during the quarter. Altisource Portfolio Solutions makes up approximately 0.2% of Deer Park Road Corp’s holdings, making the stock its 2nd biggest holding. Deer Park Road Corp owned about 15.86% of Altisource Portfolio Solutions worth $6,031,000 as of its most recent SEC filing. 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.