Altisource Portfolio Solutions S.A. (ASPS) Stock Rating Lowered by Zacks Investment Research
Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
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 research reports. ValuEngine upgraded shares of Altisource Portfolio Solutions from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 28th. BidaskClub upgraded shares of Altisource Portfolio Solutions from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. TheStreet upgraded shares of Altisource Portfolio Solutions from a “d+” rating to a “c-” rating in a research report on Monday, August 14th. Northland Securities restated a “hold” rating and set a $23.00 target price on shares of Altisource Portfolio Solutions in a research report on Friday, August 11th. Finally, Compass Point upgraded shares of Altisource Portfolio Solutions from a “sell” rating to a “neutral” rating and raised their target price for the stock from $7.00 to $15.00 in a research report on Tuesday, July 25th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Altisource Portfolio Solutions presently has an average rating of “Buy” and an average price target of $21.33.
Altisource Portfolio Solutions (ASPS) traded up 0.45% during mid-day trading on Tuesday, hitting $26.93. 36,683 shares of the stock traded hands. The stock’s 50 day moving average is $23.98 and its 200-day moving average is $24.65. Altisource Portfolio Solutions has a 12 month low of $16.17 and a 12 month high of $46.99. The company has a market cap of $486.03 million, a price-to-earnings ratio of 89.17 and a beta of 0.78.
Altisource Portfolio Solutions (NASDAQ:ASPS) last announced its earnings results on Wednesday, August 9th. The business services provider reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.19. Altisource Portfolio Solutions had a net margin of 0.60% and a return on equity of 82.95%. The firm had revenue of $250.69 million for the quarter, compared to analyst estimates of $239.30 million. During the same quarter last year, the business earned $1.58 earnings per share. Altisource Portfolio Solutions’s revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts anticipate that Altisource Portfolio Solutions will post $2.83 EPS for the current year.
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In related news, Director Orin S. Kramer purchased 25,000 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were bought at an average price of $22.34 per share, with a total value of $558,500.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.75% of the company’s stock.
A number of large investors have recently bought and sold shares of ASPS. Wells Fargo & Company MN raised its stake in Altisource Portfolio Solutions by 35.0% during the first quarter. Wells Fargo & Company MN now owns 10,424 shares of the business services provider’s stock worth $384,000 after purchasing an additional 2,700 shares during the period. Bank of New York Mellon Corp raised its stake in Altisource Portfolio Solutions by 4.5% during the first quarter. Bank of New York Mellon Corp now owns 45,215 shares of the business services provider’s stock worth $1,664,000 after purchasing an additional 1,947 shares during the period. Parametric Portfolio Associates LLC purchased a new position in Altisource Portfolio Solutions during the first quarter worth approximately $244,000. Schroder Investment Management Group purchased a new position in Altisource Portfolio Solutions during the first quarter worth approximately $318,000. Finally, American International Group Inc. raised its stake in Altisource Portfolio Solutions by 7.1% during the first quarter. American International Group Inc. now owns 7,115 shares of the business services provider’s stock worth $262,000 after purchasing an additional 473 shares during the period. 54.85% of the stock is currently owned by institutional investors.
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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