Altisource Portfolio Solutions (NASDAQ:ASPS) Shares Gap Down – Time to Sell?

Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) shares gapped down before the market opened on Wednesday . The stock had previously closed at $6.38, but opened at $5.76. Altisource Portfolio Solutions shares last traded at $5.70, with a volume of 3,302 shares.

Wall Street Analyst Weigh In

Separately, Wall Street Zen initiated coverage on shares of Altisource Portfolio Solutions in a research note on Wednesday, May 21st. They set a “sell” rating on the stock.

Altisource Portfolio Solutions Stock Performance

The company’s 50 day moving average price is $0.83 and its 200 day moving average price is $0.79. The company has a market cap of $532.11 million, a price-to-earnings ratio of -4.28 and a beta of 0.33.

Altisource Portfolio Solutions (NASDAQ:ASPS) last released its earnings results on Thursday, May 1st. The business services provider reported ($0.16) earnings per share for the quarter.

Insiders Place Their Bets

In other news, CEO William B. Shepro bought 26,312 shares of the business’s stock in a transaction on Friday, March 28th. The stock was purchased at an average price of $3.84 per share, with a total value of $101,038.08. Following the transaction, the chief executive officer now directly owns 38,812 shares in the company, valued at approximately $149,038.08. The trade was a 210.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.30% of the company’s stock.

Institutional Trading of Altisource Portfolio Solutions

A number of hedge funds have recently bought and sold shares of ASPS. Geode Capital Management LLC boosted its holdings in Altisource Portfolio Solutions by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 199,824 shares of the business services provider’s stock valued at $131,000 after purchasing an additional 16,390 shares during the period. Integrated Wealth Concepts LLC bought a new stake in Altisource Portfolio Solutions in the 4th quarter valued at $302,000. Nantahala Capital Management LLC boosted its holdings in Altisource Portfolio Solutions by 95.1% in the 4th quarter. Nantahala Capital Management LLC now owns 2,128,284 shares of the business services provider’s stock valued at $1,399,000 after purchasing an additional 1,037,275 shares during the period. XTX Topco Ltd boosted its holdings in Altisource Portfolio Solutions by 306.4% in the 1st quarter. XTX Topco Ltd now owns 80,818 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 60,933 shares during the period. Finally, Jefferies Financial Group Inc. bought a new stake in Altisource Portfolio Solutions in the 1st quarter valued at $214,000. 41.36% of the stock is owned by institutional investors.

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.