Altisource Portfolio (ASPS) Downgraded by BidaskClub

BidaskClub cut shares of Altisource Portfolio (NASDAQ:ASPS) from a strong-buy rating to a buy rating in a report released on Friday.

Separately, Zacks Investment Research cut shares of Altisource Portfolio from a hold rating to a strong sell rating in a research note on Wednesday, May 16th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and an average target price of $22.33.

ASPS stock traded up $0.16 during mid-day trading on Friday, reaching $27.67. The company’s stock had a trading volume of 84,264 shares, compared to its average volume of 167,373. The company has a market cap of $473.30 million, a price-to-earnings ratio of 10.46, a PEG ratio of 2.65 and a beta of 1.01. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 1.26. Altisource Portfolio has a fifty-two week low of $19.28 and a fifty-two week high of $31.49.

Altisource Portfolio (NASDAQ:ASPS) last released its quarterly earnings data on Thursday, April 26th. The business services provider reported $0.48 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.03). Altisource Portfolio had a net margin of 34.24% and a return on equity of 24.48%. The business had revenue of $197.44 million during the quarter, compared to analyst estimates of $218.50 million. During the same quarter in the previous year, the company posted $0.69 EPS. The firm’s revenue was down 17.9% on a year-over-year basis. equities analysts forecast that Altisource Portfolio will post 0.52 earnings per share for the current year.

In other news, major shareholder Deer Park Road Management Comp purchased 111,516 shares of the company’s stock in a transaction dated Thursday, April 5th. The stock was acquired at an average price of $25.93 per share, with a total value of $2,891,609.88. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In the last three months, insiders bought 232,442 shares of company stock valued at $6,052,952. Corporate insiders own 7.83% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. purchased a new stake in shares of Altisource Portfolio in the 4th quarter valued at approximately $140,000. A.R.T. Advisors LLC purchased a new stake in shares of Altisource Portfolio in the 1st quarter valued at approximately $230,000. Millennium Management LLC purchased a new stake in shares of Altisource Portfolio in the 4th quarter valued at approximately $298,000. Wells Fargo & Company MN grew its stake in shares of Altisource Portfolio by 45.1% in the 3rd quarter. Wells Fargo & Company MN now owns 15,181 shares of the business services provider’s stock valued at $393,000 after buying an additional 4,718 shares during the period. Finally, Element Capital Management LLC purchased a new stake in shares of Altisource Portfolio in the 1st quarter valued at approximately $472,000. 68.70% of the stock is owned by institutional investors and hedge funds.

About Altisource Portfolio

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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