Altisource Portfolio Solutions (NASDAQ:ASPS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The firm presently has a $17.00 price objective on the business services provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 15.33% from the stock’s previous close.
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. “
ASPS has been the topic of a number of other reports. BidaskClub downgraded shares of Altisource Portfolio Solutions from a “hold” rating to a “sell” rating in a research report on Wednesday, March 4th. Northland Securities restated a “neutral” rating on shares of Altisource Portfolio Solutions in a report on Wednesday, April 8th. B. Riley reiterated a “buy” rating and set a $15.00 price objective on shares of Altisource Portfolio Solutions in a report on Tuesday, June 16th. ValuEngine upgraded Altisource Portfolio Solutions from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. Finally, TheStreet downgraded Altisource Portfolio Solutions from a “c-” rating to a “d+” rating in a research note on Thursday, March 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $16.00.
Shares of Altisource Portfolio Solutions stock traded down $0.09 during midday trading on Tuesday, hitting $14.74. The company’s stock had a trading volume of 92,835 shares, compared to its average volume of 136,006. Altisource Portfolio Solutions has a 1-year low of $6.00 and a 1-year high of $23.58. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $234.80 million, a P/E ratio of -0.73 and a beta of 1.62. The stock has a 50-day simple moving average of $12.48 and a 200-day simple moving average of $13.78.
Altisource Portfolio Solutions (NASDAQ:ASPS) last announced its quarterly earnings data on Thursday, April 30th. The business services provider reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.08. Altisource Portfolio Solutions had a negative return on equity of 242.64% and a negative net margin of 52.72%. The firm had revenue of $113.18 million during the quarter, compared to the consensus estimate of $122.15 million. As a group, sell-side analysts predict that Altisource Portfolio Solutions will post -1.95 earnings per share for the current year.
In other Altisource Portfolio Solutions news, major shareholder Deer Park Road Management Comp acquired 131,179 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was purchased at an average cost of $8.55 per share, for a total transaction of $1,121,580.45. Corporate insiders own 30.57% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its stake in Altisource Portfolio Solutions by 54.4% in the 1st quarter. JPMorgan Chase & Co. now owns 139,314 shares of the business services provider’s stock worth $1,069,000 after purchasing an additional 49,094 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Altisource Portfolio Solutions by 10.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 204,283 shares of the business services provider’s stock valued at $3,949,000 after purchasing an additional 19,879 shares in the last quarter. Virginia Retirement Systems ET AL boosted its position in shares of Altisource Portfolio Solutions by 40.7% during the first quarter. Virginia Retirement Systems ET AL now owns 19,000 shares of the business services provider’s stock worth $146,000 after buying an additional 5,500 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Altisource Portfolio Solutions in the 1st quarter valued at approximately $168,000. Finally, Victory Capital Management Inc. boosted its stake in Altisource Portfolio Solutions by 28.4% in the 1st quarter. Victory Capital Management Inc. now owns 23,411 shares of the business services provider’s stock valued at $180,000 after purchasing an additional 5,175 shares during the period. Hedge funds and other institutional investors own 52.96% of the company’s stock.
About Altisource Portfolio Solutions
Altisource Portfolio Solutions SA operates as an integrated service provider and marketplace for the real estate and mortgage industries in the United States and internationally. 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, mortgage charge-off collection, residential and commercial loan disbursement processing, and residential and commercial construction inspection and risk mitigation services, as well as valuation data; residential and commercial loan servicing, vendor management, marketplace transaction and payment management, and default services technologies; and document management platform.
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