Altisource Portfolio Solutions (NASDAQ:ASPS) Coverage Initiated at Wall Street Zen

Analysts at Wall Street Zen started coverage on shares of Altisource Portfolio Solutions (NASDAQ:ASPS) in a note issued to investors on Wednesday. The firm set a “sell” rating on the business services provider’s stock.

Altisource Portfolio Solutions Price Performance

Altisource Portfolio Solutions stock opened at $0.83 on Wednesday. The firm has a market cap of $72.70 million, a price-to-earnings ratio of -0.58 and a beta of 0.33. Altisource Portfolio Solutions has a fifty-two week low of $0.22 and a fifty-two week high of $1.14. The firm has a fifty day moving average price of $0.84 and a two-hundred day moving average price of $0.80.

Shares of Altisource Portfolio Solutions are set to reverse split on Wednesday, May 28th. The 1-8 reverse split was announced on Tuesday, May 13th. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, May 27th.

Altisource Portfolio Solutions (NASDAQ:ASPS) last issued its quarterly earnings results on Thursday, May 1st. The business services provider reported ($0.02) EPS for the quarter.

Insider Activity

In other news, CEO William B. Shepro purchased 210,498 shares of the business’s stock in a transaction on Friday, March 28th. The stock was purchased at an average price of $0.48 per share, with a total value of $101,039.04. Following the acquisition, the chief executive officer now directly owns 310,498 shares in the company, valued at approximately $149,039.04. The trade was a 210.50% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 2.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of Altisource Portfolio Solutions in the 1st quarter valued at $13,442,000. Nantahala Capital Management LLC raised its stake in shares of Altisource Portfolio Solutions by 16.4% in the 1st quarter. Nantahala Capital Management LLC now owns 2,477,312 shares of the business services provider’s stock valued at $1,687,000 after buying an additional 349,028 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Altisource Portfolio Solutions in the fourth quarter worth about $302,000. Jefferies Financial Group Inc. acquired a new position in Altisource Portfolio Solutions in the first quarter worth about $214,000. Finally, Geode Capital Management LLC raised its position 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 worth $131,000 after purchasing an additional 16,390 shares in the last quarter. 41.36% of the stock is currently owned by institutional investors and hedge funds.

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.