Altisource Portfolio Solutions Sees Large Growth in Short Interest (ASPS)
Altisource Portfolio Solutions (NASDAQ:ASPS) saw a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 3,029,558 shares, a growth of 24.0% from the July 31st total of 2,442,725 shares, AmericanBankingNews.com reports. Approximately 20.7% of the shares of the company are sold short. Based on an average daily volume of 425,635 shares, the days-to-cover ratio is currently 7.1 days.
A number of research firms have recently commented on ASPS. Analysts at JMP Securities reiterated an “outperform” rating on shares of Altisource Portfolio Solutions in a research note on Wednesday, July 23rd. They now have a $38.00 price target on the stock, down previously from $40.00. Analysts at Zacks upgraded shares of Altisource Portfolio Solutions from an “underperform” rating to a “neutral” rating in a research note on Wednesday, July 16th. They now have a $111.10 price target on the stock.
Shares of Altisource Portfolio Solutions (NASDAQ:ASPS) opened at 102.02 on Thursday. Altisource Portfolio Solutions has a one year low of $83.37 and a one year high of $171.00. The stock has a 50-day moving average of $99.28 and a 200-day moving average of $108.3. The company has a market cap of $2.228 billion and a P/E ratio of 15.26.
Altisource Portfolio Solutions (NASDAQ:ASPS) last issued its quarterly earnings data on Thursday, July 24th. The company reported $22.40 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.79 by $20.61. The company had revenue of $263.20 million for the quarter, compared to the consensus estimate of $240.67 million. During the same quarter last year, the company posted $1.25 earnings per share. Altisource Portfolio Solutions’s revenue was up 59.1% compared to the same quarter last year. On average, analysts predict that Altisource Portfolio Solutions will post $8.19 earnings per share for the current fiscal year.
Altisource Portfolio Solutions SA(NASDAQ:ASPS), together with its subsidiaries, is a provider of services focused on technology-enabled, knowledge-based functions related to real estate and mortgage portfolio management, asset recovery and customer relationship management.
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