Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) released its earnings results on Wednesday, August 9th. The business services provider reported $0.88 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.19, MarketWatch Earnings reports. The company had revenue of $250.69 million for the quarter, compared to analysts’ expectations of $239.30 million. Altisource Portfolio Solutions had a return on equity of 82.95% and a net margin of 0.60%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.58 EPS.
Shares of Altisource Portfolio Solutions (NASDAQ:ASPS) traded down 5.99% during trading on Friday, hitting $19.93. The company had a trading volume of 780,667 shares. The stock’s 50-day moving average price is $23.14 and its 200 day moving average price is $25.42. The company has a market capitalization of $359.70 million, a P/E ratio of 65.99 and a beta of 0.75. Altisource Portfolio Solutions has a 52 week low of $16.17 and a 52 week high of $46.99.
Several institutional investors have recently added to or reduced their stakes in ASPS. Schroder Investment Management Group bought a new position in Altisource Portfolio Solutions during the first quarter worth about $318,000. SG Americas Securities LLC raised its stake in shares of Altisource Portfolio Solutions by 523.6% in the first quarter. SG Americas Securities LLC now owns 48,324 shares of the business services provider’s stock worth $1,778,000 after buying an additional 40,575 shares in the last quarter. Brandes Investment Partners LP acquired a new stake in shares of Altisource Portfolio Solutions during the first quarter worth $309,000. TrimTabs Asset Management LLC raised its stake in shares of Altisource Portfolio Solutions by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 3,346 shares of the business services provider’s stock worth $123,000 after buying an additional 1,576 shares in the last quarter. Finally, Parametric Portfolio Associates LLC acquired a new stake in shares of Altisource Portfolio Solutions during the first quarter worth $244,000. 55.56% of the stock is currently owned by hedge funds and other institutional investors.
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A number of research analysts have weighed in on ASPS shares. TheStreet raised Altisource Portfolio Solutions from a “d+” rating to a “c-” rating in a report on Monday, August 14th. BidaskClub lowered Altisource Portfolio Solutions from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 7th. Zacks Investment Research raised Altisource Portfolio Solutions from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Friday, August 11th. Northland Securities reaffirmed a “hold” rating and issued a $23.00 target price on shares of Altisource Portfolio Solutions in a research note on Friday, August 11th. Finally, Compass Point upgraded Altisource Portfolio Solutions from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $7.00 to $15.00 in a research report on Tuesday, July 25th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $21.33.
Altisource Portfolio Solutions Company Profile
Altisource Portfolio Solutions SA is a marketplace and transaction solutions provider for the real estate, mortgage and consumer debt industries. The Company’s business processes, vendor and electronic payment management software and behavioral science-based analytics manage outcomes for marketplace participants.
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