StockNews.com Initiates Coverage on Altisource Portfolio Solutions (NASDAQ:ASPS)

StockNews.com began coverage on shares of Altisource Portfolio Solutions (NASDAQ:ASPS) in a report published on Friday morning. The firm issued a sell rating on the business services provider’s stock.

Altisource Portfolio Solutions Stock Down 1.7 %

Altisource Portfolio Solutions stock opened at $1.17 on Friday. The stock has a 50-day moving average price of $1.15 and a 200 day moving average price of $1.42. The company has a market capitalization of $31.54 million, a price-to-earnings ratio of -0.53 and a beta of 0.95. Altisource Portfolio Solutions has a 52 week low of $0.99 and a 52 week high of $4.60.

Altisource Portfolio Solutions (NASDAQ:ASPS) last announced its quarterly earnings data on Thursday, July 25th. The business services provider reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.04. The business had revenue of $36.86 million for the quarter, compared to analyst estimates of $38.32 million. Research analysts anticipate that Altisource Portfolio Solutions will post -0.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Altisource Portfolio Solutions

A hedge fund recently raised its stake in Altisource Portfolio Solutions stock. Foundry Partners LLC grew its stake in Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) by 3.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 617,274 shares of the business services provider’s stock after buying an additional 22,844 shares during the quarter. Foundry Partners LLC owned 2.29% of Altisource Portfolio Solutions worth $1,198,000 as of its most recent SEC filing. Institutional investors and hedge funds own 41.36% of the company’s stock.

About Altisource Portfolio Solutions

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 through Servicer and Real Estate, and Origination segments. The Servicer and Real Estate segment offers property preservation, inspection, title insurance and settlement, real estate valuation, foreclosure trustee, and residential and commercial construction inspection and risk mitigation services.