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

StockNews.com assumed coverage on shares of Altisource Portfolio Solutions (NASDAQ:ASPS) in a report released on Monday. The brokerage set a “sell” rating on the business services provider’s stock.

Altisource Portfolio Solutions Price Performance

Shares of NASDAQ ASPS opened at $0.84 on Monday. The business’s 50 day moving average is $0.76 and its two-hundred day moving average is $0.91. Altisource Portfolio Solutions has a 1-year low of $0.43 and a 1-year high of $2.87. The stock has a market capitalization of $22.87 million, a P/E ratio of -0.59 and a beta of 0.87.

Institutional Investors Weigh In On Altisource Portfolio Solutions

Several large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in Altisource Portfolio Solutions by 8.9% during the fourth quarter. Geode Capital Management LLC now owns 199,824 shares of the business services provider’s stock worth $131,000 after acquiring an additional 16,390 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in Altisource Portfolio Solutions during the fourth quarter worth approximately $302,000. Finally, Nantahala Capital Management LLC increased its stake in Altisource Portfolio Solutions by 95.1% during the fourth quarter. Nantahala Capital Management LLC now owns 2,128,284 shares of the business services provider’s stock worth $1,399,000 after acquiring an additional 1,037,275 shares during the last quarter. 41.36% of the stock is owned by institutional investors.

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.