Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) was the recipient of a large increase in short interest in the month of August. As of August 15th, there was short interest totalling 1,785,800 shares, an increase of 25.7% from the July 15th total of 1,420,600 shares. Based on an average daily volume of 85,400 shares, the short-interest ratio is presently 20.9 days. Approximately 21.2% of the shares of the stock are short sold.
ASPS has been the topic of several research analyst reports. ValuEngine raised shares of Altisource Portfolio Solutions from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. BidaskClub upgraded Altisource Portfolio Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Zacks Investment Research raised Altisource Portfolio Solutions from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Wednesday, July 31st. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Altisource Portfolio Solutions presently has an average rating of “Buy” and a consensus target price of $27.00.
A number of hedge funds have recently modified their holdings of ASPS. Bank of New York Mellon Corp lifted its position in Altisource Portfolio Solutions by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 46,987 shares of the business services provider’s stock valued at $1,056,000 after purchasing an additional 1,090 shares during the last quarter. Geode Capital Management LLC boosted its position in Altisource Portfolio Solutions by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 130,913 shares of the business services provider’s stock valued at $2,944,000 after buying an additional 7,964 shares during the period. Bank of America Corp DE boosted its position in Altisource Portfolio Solutions by 115.6% during the 4th quarter. Bank of America Corp DE now owns 10,874 shares of the business services provider’s stock valued at $244,000 after buying an additional 5,831 shares during the period. Millennium Management LLC bought a new stake in Altisource Portfolio Solutions in the 4th quarter worth $484,000. Finally, BNP Paribas Arbitrage SA grew its holdings in Altisource Portfolio Solutions by 274.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,945 shares of the business services provider’s stock worth $46,000 after acquiring an additional 1,426 shares during the last quarter. Institutional investors own 60.66% of the company’s stock.
NASDAQ ASPS opened at $21.97 on Wednesday. The company has a fifty day moving average of $19.97 and a 200-day moving average of $22.06. Altisource Portfolio Solutions has a 52-week low of $18.31 and a 52-week high of $35.27. The company has a debt-to-equity ratio of 1.12, a quick ratio of 2.10 and a current ratio of 2.10. The company has a market capitalization of $331.18 million, a P/E ratio of -68.66 and a beta of 1.07.
Altisource Portfolio Solutions (NASDAQ:ASPS) last issued its earnings results on Thursday, July 25th. The business services provider reported ($0.36) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.92). Altisource Portfolio Solutions had a negative return on equity of 3.95% and a negative net margin of 1.52%. The firm had revenue of $196.54 million during the quarter, compared to analysts’ expectations of $169.90 million. During the same period in the prior year, the company earned $0.60 EPS. The firm’s quarterly revenue was down 10.1% compared to the same quarter last year. As a group, analysts forecast that Altisource Portfolio Solutions will post 0.04 EPS for the current fiscal year.
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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