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

Altisource Portfolio Solutions S.A. (NASDAQ:ASPS)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.47 and traded as high as $7.13. Altisource Portfolio Solutions shares last traded at $7.09, with a volume of 5,105 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ASPS. Weiss Ratings raised Altisource Portfolio Solutions from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, July 2nd. B. Riley Financial initiated coverage on Altisource Portfolio Solutions in a report on Thursday, April 2nd. They issued a “buy” rating and a $8.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $8.00.

Altisource Portfolio Solutions Stock Performance

The company has a market cap of $79.97 million, a PE ratio of 13.13 and a beta of 0.25. The firm’s 50 day moving average is $6.67 and its 200-day moving average is $6.47.

Altisource Portfolio Solutions (NASDAQ:ASPS) last announced its quarterly earnings data on Tuesday, March 31st. The business services provider reported $0.19 EPS for the quarter. Altisource Portfolio Solutions had a negative return on equity of 2.50% and a net margin of 3.61%. On average, analysts predict that Altisource Portfolio Solutions S.A. will post 0.49 EPS for the current year.

Hedge Funds Weigh In On Altisource Portfolio Solutions

Hedge funds have recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in shares of Altisource Portfolio Solutions during the 1st quarter worth about $13,442,000. Vanguard Group Inc. lifted its position in Altisource Portfolio Solutions by 41.7% in the third quarter. Vanguard Group Inc. now owns 376,594 shares of the business services provider’s stock valued at $4,391,000 after buying an additional 110,888 shares during the last quarter. Deer Park Road Corp lifted its position in Altisource Portfolio Solutions by 0.6% in the third quarter. Deer Park Road Corp now owns 1,485,539 shares of the business services provider’s stock valued at $17,321,000 after buying an additional 8,211 shares during the last quarter. Millennium Management LLC purchased a new position in Altisource Portfolio Solutions during the third quarter worth about $141,000. Finally, XTX Topco Ltd acquired a new stake in shares of Altisource Portfolio Solutions during the third quarter valued at about $589,000. 41.36% of the stock is currently owned by hedge funds and other institutional investors.

Altisource Portfolio Solutions Company Profile

Altisource Portfolio Solutions SA (NASDAQ: ASPS) is a provider of proprietary technology and specialized services to the mortgage and real estate industries. Founded in 2009, the company helps financial institutions, investors and loan servicers streamline processes across the full loan lifecycle, from origination and valuation through default management, asset disposition and investor reporting.

Core offerings include loan servicing and asset management solutions, property preservation and inspection services, valuation and due diligence, title and settlement services, as well as vendor management platforms.