Asta Funding (ASFI) Lifted to Buy at ValuEngine

Asta Funding (NASDAQ:ASFI) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Separately, TheStreet upgraded shares of Asta Funding from a “d+” rating to a “c” rating in a report on Monday, August 28th.

Shares of Asta Funding (ASFI) traded up $0.65 during midday trading on Friday, hitting $7.75. 10,394 shares of the stock were exchanged, compared to its average volume of 6,394. The stock has a market capitalization of $49.68, a P/E ratio of 375.00 and a beta of 0.38. Asta Funding has a 1-year low of $6.15 and a 1-year high of $10.35.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ASFI. Susquehanna International Group LLP acquired a new stake in shares of Asta Funding in the second quarter worth approximately $115,000. Vanguard Group Inc. lifted its position in Asta Funding by 1.9% during the second quarter. Vanguard Group Inc. now owns 34,347 shares of the business services provider’s stock valued at $282,000 after buying an additional 630 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan acquired a new position in Asta Funding during the second quarter valued at approximately $785,000. 16.68% of the stock is currently owned by institutional investors and hedge funds.

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About Asta Funding

Asta Funding, Inc is primarily engaged in the businesses of acquiring, managing, servicing and recovering on portfolios of consumer receivables. The Company operates through four segments: Consumer Receivables, Personal Injury Claims, Structured Settlements and GAR Disability Advocates. The Consumer receivables segment is engaged in purchasing, managing for its own account and servicing distressed consumer receivables, including charged off receivables, semi-performing receivables and performing receivables.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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