Altisource Portfolio (NASDAQ:ASPS) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Monday.
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. “
Separately, BidaskClub cut shares of Altisource Portfolio from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Three research analysts have rated the stock with a hold rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $22.33.
Shares of Altisource Portfolio stock traded up $0.18 during trading on Monday, hitting $28.17. The company’s stock had a trading volume of 73,900 shares, compared to its average volume of 187,837. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 1.26. Altisource Portfolio has a 52 week low of $17.68 and a 52 week high of $31.49. The stock has a market cap of $481.56 million, a price-to-earnings ratio of 10.06, a P/E/G ratio of 0.73 and a beta of 1.01.
Altisource Portfolio (NASDAQ:ASPS) last issued its quarterly earnings data on Thursday, April 26th. The business services provider reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.03). Altisource Portfolio had a return on equity of 24.48% and a net margin of 34.24%. The business had revenue of $197.44 million during the quarter, compared to the consensus estimate of $218.50 million. During the same period in the prior year, the firm earned $0.69 EPS. The business’s revenue for the quarter was down 17.9% compared to the same quarter last year. equities analysts anticipate that Altisource Portfolio will post 1.93 earnings per share for the current fiscal year.
In other news, major shareholder Deer Park Road Management Comp purchased 101,359 shares of the business’s stock in a transaction on Thursday, March 29th. The shares were acquired at an average price of $26.18 per share, with a total value of $2,653,578.62. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired 432,442 shares of company stock worth $10,802,952 in the last ninety days. Insiders own 7.83% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Deer Park Road Corp bought a new stake in Altisource Portfolio during the fourth quarter valued at $58,478,000. Renaissance Technologies LLC boosted its position in Altisource Portfolio by 40.1% during the fourth quarter. Renaissance Technologies LLC now owns 305,000 shares of the business services provider’s stock valued at $8,540,000 after acquiring an additional 87,300 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Altisource Portfolio by 6.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 152,931 shares of the business services provider’s stock worth $4,062,000 after purchasing an additional 9,544 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of Altisource Portfolio by 25.0% during the 4th quarter. California Public Employees Retirement System now owns 89,034 shares of the business services provider’s stock worth $2,493,000 after purchasing an additional 17,798 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Altisource Portfolio by 6.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 68,726 shares of the business services provider’s stock worth $1,825,000 after purchasing an additional 4,088 shares in the last quarter. 67.50% of the stock is currently owned by institutional investors and hedge funds.
Altisource Portfolio 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. It operates in two segments, Mortgage Market and Real Estate Market. The company offers property preservation and inspection, real estate brokerage and auction, title insurance and settlement, appraisal management, broker and non-broker valuation, foreclosure trustee, residential and commercial loan servicing technology, vendor management, marketplace transaction and payment management technology, document management platform, default services technology, and mortgage charge-off collection services.
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