BidaskClub Lowers Altisource Portfolio Solutions (NASDAQ:ASPS) to Sell

Altisource Portfolio Solutions (NASDAQ:ASPS) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, BidAskClub reports.

A number of other brokerages also recently weighed in on ASPS. Zacks Investment Research downgraded shares of Altisource Portfolio Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. ValuEngine raised shares of Altisource Portfolio Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.

ASPS stock opened at $17.83 on Tuesday. The firm has a 50 day moving average of $19.73 and a 200-day moving average of $20.53. The company has a current ratio of 2.11, a quick ratio of 2.10 and a debt-to-equity ratio of 1.00. Altisource Portfolio Solutions has a 12 month low of $15.30 and a 12 month high of $27.08. The firm has a market capitalization of $280.52 million, a P/E ratio of -55.72 and a beta of 1.12.

Altisource Portfolio Solutions (NASDAQ:ASPS) last released its quarterly earnings data on Thursday, October 24th. The business services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Altisource Portfolio Solutions had a negative net margin of 1.87% and a negative return on equity of 4.58%. The company had revenue of $141.49 million during the quarter, compared to analyst estimates of $154.00 million. During the same period last year, the business earned $0.09 earnings per share. Altisource Portfolio Solutions’s revenue was down 30.8% compared to the same quarter last year. Sell-side analysts predict that Altisource Portfolio Solutions will post -0.1 EPS for the current year.

In related news, major shareholder Deer Park Road Management Comp bought 25,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were acquired at an average cost of $17.76 per share, with a total value of $444,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William B. Shepro bought 3,150 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average cost of $15.85 per share, for a total transaction of $49,927.50. The disclosure for this purchase can be found here. Insiders purchased 31,246 shares of company stock worth $547,420 over the last ninety days. 26.44% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in ASPS. Tower Research Capital LLC TRC purchased a new position in shares of Altisource Portfolio Solutions during the third quarter worth approximately $45,000. First Trust Advisors LP purchased a new position in shares of Altisource Portfolio Solutions during the third quarter worth approximately $426,000. Russell Investments Group Ltd. purchased a new position in shares of Altisource Portfolio Solutions during the third quarter worth approximately $143,000. California Public Employees Retirement System raised its stake in shares of Altisource Portfolio Solutions by 2.5% during the third quarter. California Public Employees Retirement System now owns 26,342 shares of the business services provider’s stock worth $533,000 after acquiring an additional 635 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Altisource Portfolio Solutions by 6.8% during the third quarter. Rhumbline Advisers now owns 11,393 shares of the business services provider’s stock worth $230,000 after acquiring an additional 726 shares in the last quarter. 61.66% of the stock is currently owned by institutional investors and hedge funds.

Altisource Portfolio Solutions Company Profile

Altisource Portfolio Solutions SA operates as an integrated service provider and marketplace for the real estate and mortgage industries in the United States and internationally. It operates in two segments, Mortgage Market and Real Estate Market. The company offers property preservation and inspection, real estate brokerage and auction, title insurance and settlement, appraisal management, broker and non-broker valuation, foreclosure trustee, mortgage charge-off collection, residential and commercial loan disbursement processing, and residential and commercial construction inspection and risk mitigation services, as well as valuation data; residential and commercial loan servicing, vendor management, marketplace transaction and payment management, and default services technologies; and document management platform.

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