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

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

Altisource Portfolio Solutions Trading Down 3.9 %

ASPS opened at $0.76 on Friday. The business has a 50 day moving average of $0.80 and a 200-day moving average of $0.85. The stock has a market capitalization of $66.57 million, a price-to-earnings ratio of -0.54 and a beta of 0.47. Altisource Portfolio Solutions has a 1-year low of $0.22 and a 1-year high of $1.06.

Insiders Place Their Bets

In related news, CEO William B. Shepro acquired 210,498 shares of the business’s stock in a transaction dated Friday, March 28th. The stock was acquired at an average price of $0.48 per share, with a total value of $101,039.04. Following the completion of the transaction, the chief executive officer now owns 310,498 shares of the company’s stock, valued at approximately $149,039.04. This represents a 210.50 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Altisource Portfolio Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Altisource Portfolio Solutions by 8.9% in the fourth quarter. Geode Capital Management LLC now owns 199,824 shares of the business services provider’s stock valued at $131,000 after acquiring an additional 16,390 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of Altisource Portfolio Solutions in the 4th quarter worth about $302,000. Finally, Nantahala Capital Management LLC increased its position in shares of Altisource Portfolio Solutions by 95.1% during the 4th 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. 41.36% of the stock is currently owned by institutional investors.

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.