StockNews.com Begins Coverage on Altisource Portfolio Solutions (NASDAQ:ASPS)

StockNews.com began coverage on shares of Altisource Portfolio Solutions (NASDAQ:ASPS – Get Rating) in a research note issued to investors on Thursday. The brokerage issued a sell rating on the business services provider’s stock.

Altisource Portfolio Solutions Stock Down 5.7 %

NASDAQ:ASPS opened at $4.48 on Thursday. The stock’s 50-day simple moving average is $6.16 and its 200 day simple moving average is $10.16. The firm has a market capitalization of $72.22 million, a PE ratio of 2.50 and a beta of 1.15. Altisource Portfolio Solutions has a twelve month low of $4.25 and a twelve month high of $17.67.

Insider Activity at Altisource Portfolio Solutions

In other Altisource Portfolio Solutions news, major shareholder Deer Park Road Management Comp acquired 400,000 shares of Altisource Portfolio Solutions stock in a transaction that occurred on Tuesday, February 14th. The shares were acquired at an average cost of $5.00 per share, with a total value of $2,000,000.00. Following the completion of the purchase, the insider now directly owns 4,236,899 shares of the company’s stock, valued at approximately $21,184,495. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 29.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Altisource Portfolio Solutions

Several large investors have recently bought and sold shares of ASPS. UBS Group AG raised its position in Altisource Portfolio Solutions by 1,199.4% in the third quarter. UBS Group AG now owns 2,053 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 1,895 shares during the last quarter. McIlrath & Eck LLC bought a new position in Altisource Portfolio Solutions in the fourth quarter valued at about $28,000. Prelude Capital Management LLC bought a new position in Altisource Portfolio Solutions in the second quarter valued at about $108,000. Man Group plc bought a new position in Altisource Portfolio Solutions in the fourth quarter valued at about $109,000. Finally, 683 Capital Management LLC bought a new position in Altisource Portfolio Solutions in the fourth quarter valued at about $114,000. 33.69% of the stock is currently owned by institutional investors.

About Altisource Portfolio Solutions

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Altisource Portfolio Solutions SA engages in the provision of integrated service and marketplace for the real estate and mortgage industries. It operates through the following businesses: field services, marketplace, and mortgage and real estate solutions. The field services segment is involved in property preservation and inspection services, and vendor management oversight software-as-a-service (SaaS) platform.