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 passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.45 and traded as high as $7.20. Altisource Portfolio Solutions shares last traded at $7.00, with a volume of 11,775 shares traded.

Wall Street Analyst Weigh In

ASPS has been the topic of several research reports. B. Riley Financial assumed 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 on the stock. Weiss Ratings downgraded shares of Altisource Portfolio Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

Altisource Portfolio Solutions Stock Down 2.6%

The firm has a fifty day moving average price of $6.58 and a two-hundred day moving average price of $6.45. The stock has a market capitalization of $78.96 million, a P/E ratio of 12.96 and a beta of 0.31.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in shares of Altisource Portfolio Solutions in the first quarter worth approximately $13,442,000. Vanguard Group Inc. increased its position in shares of 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 valued at $4,391,000 after acquiring an additional 110,888 shares in the last quarter. Potomac Capital Management Inc. purchased a new position in Altisource Portfolio Solutions in the 4th quarter worth approximately $700,000. XTX Topco Ltd purchased a new position in Altisource Portfolio Solutions in the 3rd quarter worth approximately $589,000. Finally, Millennium Management LLC bought a new position in Altisource Portfolio Solutions in the 3rd quarter valued at approximately $141,000. Institutional investors own 41.36% of the company’s stock.

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.