Northland Securities Reaffirms “Hold” Rating for Altisource Portfolio Solutions S.A. (ASPS)

Northland Securities restated their hold rating on shares of Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) in a research report report published on Sunday. They currently have a $26.00 target price on the business services provider’s stock.

A number of other equities research analysts also recently weighed in on ASPS. BidaskClub downgraded Altisource Portfolio Solutions from a strong-buy rating to a buy rating in a research report on Monday, August 7th. Zacks Investment Research upgraded Altisource Portfolio Solutions from a hold rating to a buy rating and set a $26.00 target price for the company in a research report on Friday, August 11th. TheStreet upgraded Altisource Portfolio Solutions from a d+ rating to a c- rating in a research report on Monday, August 14th. Compass Point upgraded Altisource Portfolio Solutions from a sell rating to a neutral rating and boosted their target price for the stock from $7.00 to $15.00 in a research report on Tuesday, July 25th. Finally, ValuEngine upgraded Altisource Portfolio Solutions from a buy rating to a strong-buy rating in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Altisource Portfolio Solutions has a consensus rating of Hold and an average price target of $22.33.

Altisource Portfolio Solutions (NASDAQ:ASPS) last released its earnings results on Thursday, October 26th. The business services provider reported $0.73 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.73. The company had revenue of $235.00 million during the quarter, compared to the consensus estimate of $215.40 million. Altisource Portfolio Solutions had a return on equity of 81.23% and a net margin of 0.23%. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.54 earnings per share.

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In other news, major shareholder Deer Park Road Management Comp bought 40,741 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was bought at an average price of $24.58 per share, for a total transaction of $1,001,413.78. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Indroneel Chatterjee bought 1,200 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were purchased at an average price of $26.32 per share, with a total value of $31,584.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 66,941 shares of company stock valued at $1,591,498. 6.75% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in ASPS. The Manufacturers Life Insurance Company increased its holdings in Altisource Portfolio Solutions by 4.2% in the second quarter. The Manufacturers Life Insurance Company now owns 8,924 shares of the business services provider’s stock valued at $195,000 after purchasing an additional 358 shares during the last quarter. KCG Holdings Inc. bought a new stake in Altisource Portfolio Solutions in the first quarter valued at about $201,000. Wells Fargo & Company MN increased its holdings in Altisource Portfolio Solutions by 0.4% in the second quarter. Wells Fargo & Company MN now owns 10,463 shares of the business services provider’s stock valued at $228,000 after purchasing an additional 39 shares during the last quarter. First Trust Advisors LP bought a new stake in Altisource Portfolio Solutions in the third quarter valued at about $240,000. Finally, Parametric Portfolio Associates LLC bought a new stake in Altisource Portfolio Solutions in the first quarter valued at about $244,000. Institutional investors own 55.04% of the company’s stock.

About Altisource Portfolio Solutions

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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