Altisource Portfolio Solutions (NASDAQ:ASPS) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Altisource Portfolio Solutions S.A. (NASDAQ:ASPS)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.49 and traded as high as $7.01. Altisource Portfolio Solutions shares last traded at $6.78, with a volume of 21,301 shares.

Wall Street Analysts Forecast Growth

ASPS has been the topic of a number of recent research reports. B. Riley Financial began coverage on Altisource Portfolio Solutions in a research report on Thursday, April 2nd. They issued a “buy” rating and a $8.00 target price on the stock. Weiss Ratings upgraded Altisource Portfolio Solutions from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.00.

Altisource Portfolio Solutions Stock Down 1.9%

The company has a market cap of $76.48 million, a price-to-earnings ratio of 12.56 and a beta of 0.25. The stock has a fifty day moving average price of $6.71 and a two-hundred day moving average price of $6.49.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ASPS. Jane Street Group LLC bought a new stake in shares of Altisource Portfolio Solutions in the fourth quarter valued at approximately $75,000. Potomac Capital Management Inc. acquired a new position in Altisource Portfolio Solutions in the 4th quarter valued at $700,000. XTX Topco Ltd bought a new stake in shares of Altisource Portfolio Solutions during the 3rd quarter valued at $589,000. Millennium Management LLC acquired a new stake in shares of Altisource Portfolio Solutions during the 3rd quarter worth $141,000. Finally, Vanguard Group Inc. increased its position 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 worth $4,391,000 after purchasing an additional 110,888 shares during the period. 41.36% of the stock is owned by institutional investors.

About Altisource Portfolio Solutions

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.