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

Altisource Portfolio Solutions S.A. (NASDAQ:ASPS)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.47 and traded as high as $7.13. Altisource Portfolio Solutions shares last traded at $7.09, with a volume of 5,105 shares.

Analysts Set New Price Targets

Several research firms have commented on ASPS. 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 price objective on the stock. Weiss Ratings raised shares of Altisource Portfolio Solutions from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Altisource Portfolio Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $8.00.

Altisource Portfolio Solutions Stock Performance

The stock has a market cap of $79.97 million, a PE ratio of 13.13 and a beta of 0.25. The company has a 50 day moving average of $6.67 and a two-hundred day moving average of $6.47.

Altisource Portfolio Solutions (NASDAQ:ASPS) last issued 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 negative return on equity of 2.50% and a net margin of 3.61%. As a group, equities research analysts anticipate that Altisource Portfolio Solutions S.A. will post 0.49 EPS for the current year.

Institutional Investors Weigh In On Altisource Portfolio Solutions

A number of institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new position in Altisource Portfolio Solutions during the fourth quarter worth $75,000. Potomac Capital Management Inc. purchased a new stake in shares of Altisource Portfolio Solutions during the fourth quarter worth about $700,000. XTX Topco Ltd purchased a new stake in shares of Altisource Portfolio Solutions during the third quarter worth about $589,000. Millennium Management LLC acquired a new position in shares of Altisource Portfolio Solutions during the 3rd quarter worth about $141,000. Finally, Deer Park Road Corp raised its position in shares of Altisource Portfolio Solutions by 0.6% during the 3rd quarter. Deer Park Road Corp now owns 1,485,539 shares of the business services provider’s stock worth $17,321,000 after purchasing an additional 8,211 shares during the last quarter. Institutional investors and hedge funds 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.