Altisource Portfolio Solutions (NASDAQ:ASPS) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Altisource Portfolio Solutions S.A. (NASDAQ:ASPS)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.61 and traded as high as $12.14. Altisource Portfolio Solutions shares last traded at $12.05, with a volume of 10,227 shares.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ASPS. Weiss Ratings restated a “sell (d-)” rating on shares of Altisource Portfolio Solutions in a report on Wednesday, October 8th. Wall Street Zen raised Altisource Portfolio Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Altisource Portfolio Solutions Trading Up 1.3%

The stock’s 50-day moving average price is $11.52 and its two-hundred day moving average price is $9.61. The stock has a market capitalization of $132.43 million, a P/E ratio of -2.76 and a beta of 0.37.

Altisource Portfolio Solutions (NASDAQ:ASPS) last announced its quarterly earnings data on Thursday, July 24th. The business services provider reported $0.14 earnings per share for the quarter. The firm had revenue of $40.79 million during the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. XTX Topco Ltd grew its holdings in shares of Altisource Portfolio Solutions by 306.4% during the first quarter. XTX Topco Ltd now owns 80,818 shares of the business services provider’s stock worth $55,000 after purchasing an additional 60,933 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in shares of Altisource Portfolio Solutions during the first quarter valued at about $214,000. Nantahala Capital Management LLC boosted its holdings in Altisource Portfolio Solutions by 16.4% in the first quarter. Nantahala Capital Management LLC now owns 2,477,312 shares of the business services provider’s stock valued at $1,687,000 after acquiring an additional 349,028 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in Altisource Portfolio Solutions during the 1st quarter valued at approximately $13,442,000. 41.36% of the stock is currently owned by hedge funds and other 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.