Altisource Portfolio Solutions (NASDAQ:ASPS) Share Price Breaks Above 200-Day Moving Average – What’s Next?

Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) shares crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $6.30 and traded as high as $6.74. Altisource Portfolio Solutions shares last traded at $6.69, with a volume of 29,573 shares.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Zacks Research raised Altisource Portfolio Solutions from a “strong sell” rating to a “hold” rating in a research note on Monday, September 21st. Weiss Ratings raised shares of Altisource Portfolio Solutions from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $8.00.

Altisource Portfolio Solutions Trading Up 4.6%

The stock has a market capitalization of $73.70 million, a price-to-earnings ratio of -6.52 and a beta of 0.19. The company has a fifty day moving average of $5.61 and a two-hundred day moving average of $6.30.

Altisource Portfolio Solutions (NASDAQ:ASPS) last released its quarterly earnings results on Thursday, July 23rd. The business services provider reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). Altisource Portfolio Solutions had a negative net margin of 5.93% and a negative return on equity of 1.69%. As a group, sell-side analysts predict that Altisource Portfolio Solutions S.A. will post 0.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Benefit Street Partners Llc purchased 48,991 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was bought at an average cost of $5.78 per share, for a total transaction of $283,167.98. Following the completion of the acquisition, the insider directly owned 1,803,045 shares of the company’s stock, valued at approximately $10,421,600.10. The trade was a 2.79% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have acquired 57,701 shares of company stock worth $329,182. 19.07% of the stock is owned by insiders.

Hedge Funds Weigh In On Altisource Portfolio Solutions

A hedge fund recently bought a new position in Altisource Portfolio Solutions stock. Potomac Capital Management Inc. bought a new stake in Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 100,737 shares of the business services provider’s stock, valued at approximately $700,000. Potomac Capital Management Inc. owned about 0.92% of Altisource Portfolio Solutions as of its most recent SEC filing. Hedge funds and other institutional investors own 41.36% of the company’s stock.

About Altisource Portfolio Solutions

Altisource Portfolio Solutions SA (NASDAQ:ASPS) provides technology, marketplace and related services to the mortgage and real estate industries. The company supports lenders, investors, real estate professionals and consumers through platforms designed to facilitate property marketing, transactions, asset management and other aspects of the real estate lifecycle.

Its offerings have included Hubzu, an online marketplace for buying and selling residential real estate, along with software and workflow solutions for default management, property disposition and related mortgage processes.