Altisource Portfolio Solutions (NASDAQ:ASPS) Share Price Passes Above 200-Day Moving Average – Here’s Why

Altisource Portfolio Solutions S.A. (NASDAQ:ASPS)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.52 and traded as high as $6.88. Altisource Portfolio Solutions shares last traded at $6.80, with a volume of 6,744 shares trading hands.

Wall Street Analysts Forecast Growth

ASPS has been the topic of several recent research reports. Weiss Ratings downgraded shares of Altisource Portfolio Solutions from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday. B. Riley Financial initiated coverage on shares of Altisource Portfolio Solutions in a research note on Thursday, April 2nd. They set a “buy” rating and a $8.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $8.00.

Altisource Portfolio Solutions Price Performance

The firm has a market capitalization of $76.70 million, a PE ratio of 12.59 and a beta of 0.31. The company has a 50-day moving average price of $6.55 and a 200-day moving average price of $6.52.

Altisource Portfolio Solutions (NASDAQ:ASPS) last posted its quarterly earnings data on Tuesday, March 31st. The business services provider reported $0.19 EPS for the quarter. Altisource Portfolio Solutions had a negative return on equity of 2.50% and a net margin of 3.61%. On average, research analysts predict that Altisource Portfolio Solutions S.A. will post 0.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Altisource Portfolio Solutions

Hedge funds and other institutional investors have recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of Altisource Portfolio Solutions in the first quarter valued at approximately $13,442,000. Vanguard Group Inc. boosted its position in Altisource Portfolio Solutions by 41.7% during the third quarter. Vanguard Group Inc. now owns 376,594 shares of the business services provider’s stock worth $4,391,000 after acquiring an additional 110,888 shares during the last quarter. Potomac Capital Management Inc. acquired a new stake in Altisource Portfolio Solutions during the fourth quarter worth approximately $700,000. XTX Topco Ltd purchased a new stake in Altisource Portfolio Solutions in the 3rd quarter worth approximately $589,000. Finally, Millennium Management LLC purchased a new stake in Altisource Portfolio Solutions in the 3rd quarter worth approximately $141,000. 41.36% of the stock is currently owned by hedge funds and other institutional investors.

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.