Altisource Portfolio Solutions (NASDAQ:ASPS) Earns Buy Rating from Analysts at B. Riley Financial

B. Riley Financial initiated coverage on shares of Altisource Portfolio Solutions (NASDAQ:ASPS) in a research report sent to investors on Thursday morning, Marketbeat reports. The firm issued a buy rating and a $8.00 price objective on the business services provider’s stock.

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Altisource Portfolio Solutions in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Altisource Portfolio Solutions currently has a consensus rating of “Hold” and a consensus target price of $8.00.

Altisource Portfolio Solutions Price Performance

NASDAQ ASPS opened at $6.82 on Thursday. The firm has a market cap of $76.90 million, a P/E ratio of -56.83 and a beta of 0.17. Altisource Portfolio Solutions has a 52-week low of $4.30 and a 52-week high of $15.96. The business’s 50-day moving average price is $6.22 and its 200 day moving average price is $8.05.

Altisource Portfolio Solutions (NASDAQ:ASPS) last posted its quarterly earnings data on Wednesday, March 4th. The business services provider reported $0.11 EPS for the quarter. Altisource Portfolio Solutions had a negative return on equity of 0.45% and a net margin of 0.94%.The firm had revenue of $42.34 million during the quarter.

Institutional Investors Weigh In On Altisource Portfolio Solutions

Institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new position in Altisource Portfolio Solutions during the 4th quarter worth approximately $75,000. Millennium Management LLC acquired a new stake in shares of Altisource Portfolio Solutions in the 3rd quarter valued at approximately $141,000. XTX Topco Ltd acquired a new stake in shares of Altisource Portfolio Solutions in the 3rd quarter valued at approximately $589,000. Potomac Capital Management Inc. purchased a new stake in shares of Altisource Portfolio Solutions in the fourth quarter valued at approximately $700,000. Finally, Vanguard Group Inc. boosted its stake in shares of Altisource Portfolio Solutions by 41.7% in the third quarter. Vanguard Group Inc. now owns 376,594 shares of the business services provider’s stock valued at $4,391,000 after buying an additional 110,888 shares in the last quarter. Hedge funds and other institutional investors own 41.36% of the company’s stock.

Altisource Portfolio Solutions Company Profile

Altisource Portfolio Solutions SA (NASDAQ: ASPS) is a provider of proprietary technology and specialized services to the mortgage and real estate industries. Founded in 2009, the company helps financial institutions, investors and loan servicers streamline processes across the full loan lifecycle, from origination and valuation through default management, asset disposition and investor reporting.

Core offerings include loan servicing and asset management solutions, property preservation and inspection services, valuation and due diligence, title and settlement services, as well as vendor management platforms.