StockNews.com Begins 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 Thursday. The brokerage issued a sell rating on the business services provider’s stock.

Altisource Portfolio Solutions Stock Down 2.8 %

NASDAQ:ASPS opened at $0.80 on Thursday. The firm has a market cap of $21.78 million, a PE ratio of -0.56 and a beta of 0.47. Altisource Portfolio Solutions has a 12 month low of $0.22 and a 12 month high of $1.06. The company’s 50-day moving average price is $0.78 and its two-hundred day moving average price is $0.86.

Insider Buying and Selling

In other Altisource Portfolio Solutions news, CEO William B. Shepro purchased 210,498 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The stock was acquired at an average cost of $0.48 per share, with a total value of $101,039.04. Following the completion of the acquisition, the chief executive officer now directly owns 310,498 shares of the company’s stock, valued at $149,039.04. This represents a 210.50 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Altisource Portfolio Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASPS. Nantahala Capital Management LLC lifted its position in shares of Altisource Portfolio Solutions by 95.1% during the fourth quarter. Nantahala Capital Management LLC now owns 2,128,284 shares of the business services provider’s stock worth $1,399,000 after purchasing an additional 1,037,275 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Altisource Portfolio Solutions in the 4th quarter worth approximately $302,000. Finally, Geode Capital Management LLC lifted its holdings in Altisource Portfolio Solutions by 8.9% during the 4th quarter. Geode Capital Management LLC now owns 199,824 shares of the business services provider’s stock worth $131,000 after buying an additional 16,390 shares in the last quarter. Institutional investors and hedge funds own 41.36% 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 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.