Altisource Portfolio Solutions (NASDAQ:ASPS) Coverage Initiated at B. Riley Financial

Equities researchers at B. Riley Financial started coverage on shares of Altisource Portfolio Solutions (NASDAQ:ASPS) in a report released on Thursday, MarketBeat reports. The firm set a “buy” rating and a $8.00 price target on the business services provider’s stock. B. Riley Financial’s price objective would suggest a potential upside of 17.30% from the stock’s previous close.

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Altisource Portfolio Solutions in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.00.

Altisource Portfolio Solutions Price Performance

Shares of ASPS opened at $6.82 on Thursday. The company’s 50-day moving average is $6.22 and its 200-day moving average is $8.07. The firm has a market capitalization of $76.93 million, a PE ratio of -56.83 and a beta of 0.17. Altisource Portfolio Solutions has a fifty-two week low of $4.30 and a fifty-two week high of $15.96.

Altisource Portfolio Solutions (NASDAQ:ASPS) last announced its earnings results on Wednesday, March 4th. The business services provider reported $0.11 EPS for the quarter. The business had revenue of $42.34 million during the quarter. Altisource Portfolio Solutions had a net margin of 0.94% and a negative return on equity of 0.45%.

Institutional Trading of Altisource Portfolio Solutions

Institutional investors have recently modified their holdings of the stock. Jane Street Group LLC bought a new position in shares of Altisource Portfolio Solutions in the fourth quarter worth $75,000. Millennium Management LLC bought a new stake in Altisource Portfolio Solutions during the third quarter worth about $141,000. XTX Topco Ltd bought a new stake in Altisource Portfolio Solutions during the third quarter worth about $589,000. Potomac Capital Management Inc. acquired a new stake in Altisource Portfolio Solutions during the fourth quarter worth about $700,000. Finally, Vanguard Group Inc. grew its stake in Altisource Portfolio Solutions by 41.7% during the third quarter. Vanguard Group Inc. now owns 376,594 shares of the business services provider’s stock worth $4,391,000 after buying an additional 110,888 shares in the last quarter. 41.36% of the stock is currently owned by institutional investors.

About Altisource Portfolio Solutions

Altisource Portfolio Solutions SA (NASDAQ: ASPS) is a provider of proprietary technology and specialized services to the mortgage and real estate industries. Founded in 2009, the company helps financial institutions, investors and loan servicers streamline processes across the full loan lifecycle, from origination and valuation through default management, asset disposition and investor reporting.

Core offerings include loan servicing and asset management solutions, property preservation and inspection services, valuation and due diligence, title and settlement services, as well as vendor management platforms.