Zacks Investment Research downgraded shares of Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.
According to Zacks, “Altisource Portfolio Solutions S.A., together with its subsidiaries, is engaged in provision of real estate mortgage portfolio management and related technology products, as well as asset recovery and customer relationship management services. The Company has three segments: Mortgage Services, Financial Services and Technology Products. Mortgage Services provides valuation, real estate sales, default processing services, property inspection and preservation services, homeowner outreach, closing and title services and knowledge process outsourcing services. Financial Services comprises the Company’s asset recovery management and customer relationship management offerings to the financial services, consumer products, telecommunications and utilities industries. Technology Products is engaged in the design, development and delivery of technology products and services to the mortgage industry. “
A number of other equities analysts have also weighed in on ASPS. BidaskClub lowered shares of Altisource Portfolio Solutions from a strong-buy rating to a buy rating in a research report on Monday, August 7th. TheStreet upgraded shares of Altisource Portfolio Solutions from a d+ rating to a c- rating in a research report on Monday, August 14th. Northland Securities reiterated a hold rating and issued a $23.00 price objective on shares of Altisource Portfolio Solutions in a research report on Friday, August 11th. Compass Point upgraded shares of Altisource Portfolio Solutions from a sell rating to a neutral rating and lifted their price objective for the company from $7.00 to $15.00 in a research report on Tuesday, July 25th. Finally, ValuEngine upgraded shares of Altisource Portfolio Solutions from a buy rating to a strong-buy rating in a research report on Friday, July 28th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $21.33.
Altisource Portfolio Solutions (ASPS) opened at 26.93 on Tuesday. The company has a 50 day moving average of $24.16 and a 200 day moving average of $24.61. Altisource Portfolio Solutions has a 1-year low of $16.17 and a 1-year high of $46.99. The firm has a market capitalization of $486.03 million, a PE ratio of 89.17 and a beta of 0.78.
Altisource Portfolio Solutions (NASDAQ:ASPS) last announced its earnings results on Wednesday, August 9th. The business services provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.19. The business had revenue of $250.69 million for the quarter, compared to analyst estimates of $239.30 million. Altisource Portfolio Solutions had a net margin of 0.60% and a return on equity of 82.95%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the firm posted $1.58 earnings per share. Analysts forecast that Altisource Portfolio Solutions will post $2.83 EPS for the current year.
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In other news, Director Orin S. Kramer acquired 25,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were purchased at an average cost of $22.34 per share, for a total transaction of $558,500.00. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 6.75% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Wells Fargo & Company MN grew its position in Altisource Portfolio Solutions by 0.4% in the 2nd quarter. Wells Fargo & Company MN now owns 10,463 shares of the business services provider’s stock valued at $228,000 after buying an additional 39 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Altisource Portfolio Solutions by 4.2% in the second quarter. The Manufacturers Life Insurance Company now owns 8,924 shares of the business services provider’s stock valued at $195,000 after acquiring an additional 358 shares during the period. American International Group Inc. lifted its holdings in Altisource Portfolio Solutions by 7.1% in the first quarter. American International Group Inc. now owns 7,115 shares of the business services provider’s stock valued at $262,000 after acquiring an additional 473 shares during the period. American Century Companies Inc. lifted its holdings in Altisource Portfolio Solutions by 0.7% in the second quarter. American Century Companies Inc. now owns 127,118 shares of the business services provider’s stock valued at $2,774,000 after acquiring an additional 848 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Altisource Portfolio Solutions by 4.5% in the first quarter. Bank of New York Mellon Corp now owns 45,215 shares of the business services provider’s stock valued at $1,664,000 after acquiring an additional 1,947 shares during the period. Hedge funds and other institutional investors own 54.85% of the company’s stock.
About Altisource Portfolio Solutions
Altisource Portfolio Solutions SA is a marketplace and transaction solutions provider for the real estate, mortgage and consumer debt industries. The Company’s business processes, vendor and electronic payment management software and behavioral science-based analytics manage outcomes for marketplace participants.
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