Altisource Portfolio Solutions (ASPS) Cut to “Buy” at BidaskClub

Altisource Portfolio Solutions (NASDAQ:ASPS) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday, January 4th.

A number of other analysts have also issued reports on the company. Northland Securities reaffirmed a “hold” rating and issued a $26.00 target price on shares of Altisource Portfolio Solutions in a report on Sunday, October 29th. Zacks Investment Research lowered Altisource Portfolio Solutions from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $22.33.

Altisource Portfolio Solutions (NASDAQ ASPS) opened at $29.29 on Thursday. The stock has a market cap of $505.09, a PE ratio of 244.08, a P/E/G ratio of 0.67 and a beta of 0.99. The company has a debt-to-equity ratio of 6.46, a quick ratio of 2.57 and a current ratio of 2.57. Altisource Portfolio Solutions has a 52-week low of $16.17 and a 52-week high of $46.99.

Altisource Portfolio Solutions (NASDAQ:ASPS) last released its earnings results on Thursday, October 26th. The business services provider reported $0.73 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.73. The firm had revenue of $235.00 million for the quarter, compared to analyst estimates of $215.40 million. Altisource Portfolio Solutions had a return on equity of 81.23% and a net margin of 0.23%. The company’s revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 EPS. research analysts forecast that Altisource Portfolio Solutions will post 2.72 EPS for the current fiscal year.

In other news, major shareholder Deer Park Road Management Comp acquired 350,000 shares of Altisource Portfolio Solutions stock in a transaction on Tuesday, January 9th. The stock was bought at an average price of $27.93 per share, for a total transaction of $9,775,500.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Indroneel Chatterjee acquired 1,200 shares of Altisource Portfolio Solutions stock in a transaction on Tuesday, October 31st. The stock was purchased at an average price of $26.32 per share, with a total value of $31,584.00. The disclosure for this purchase can be found here. Insiders acquired a total of 434,683 shares of company stock valued at $11,892,719 in the last quarter. Corporate insiders own 6.75% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its position in shares of Altisource Portfolio Solutions by 4.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,924 shares of the business services provider’s stock worth $195,000 after acquiring an additional 358 shares during the period. First Trust Advisors LP bought a new position in shares of Altisource Portfolio Solutions during the 3rd quarter worth approximately $240,000. Wells Fargo & Company MN lifted its position in shares of Altisource Portfolio Solutions by 0.4% during the 2nd quarter. Wells Fargo & Company MN now owns 10,463 shares of the business services provider’s stock worth $228,000 after buying an additional 39 shares during the period. Quinn Opportunity Partners LLC bought a new position in shares of Altisource Portfolio Solutions during the 2nd quarter worth approximately $488,000. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of Altisource Portfolio Solutions during the 3rd quarter worth approximately $617,000. Institutional investors own 53.55% of the company’s stock.

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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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