Altisource Portfolio Solutions (ASPS) Upgraded to “Strong-Buy” at BidaskClub

Altisource Portfolio Solutions (NASDAQ:ASPS) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Wednesday.

Several other research firms have also recently weighed in on ASPS. Zacks Investment Research cut shares of Altisource Portfolio Solutions from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. Northland Securities restated a “hold” rating and issued a $26.00 price objective on shares of Altisource Portfolio Solutions in a research report on Sunday, October 29th. Three equities research analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the stock. Altisource Portfolio Solutions has an average rating of “Buy” and a consensus price target of $22.33.

Altisource Portfolio Solutions (ASPS) traded down $0.61 during mid-day trading on Wednesday, hitting $28.87. 122,930 shares of the company traded hands, compared to its average volume of 340,873. The company has a debt-to-equity ratio of 6.46, a quick ratio of 2.57 and a current ratio of 2.57. The company has a market capitalization of $538.22, a PE ratio of 262.45, a price-to-earnings-growth ratio of 0.53 and a beta of 1.01. Altisource Portfolio Solutions has a one year low of $16.17 and a one year high of $46.99.

Altisource Portfolio Solutions (NASDAQ:ASPS) last posted its quarterly earnings data on Thursday, October 26th. The business services provider reported $0.73 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.73. The company had revenue of $235.00 million for the quarter, compared to analysts’ expectations of $215.40 million. Altisource Portfolio Solutions had a net margin of 0.23% and a return on equity of 81.23%. Altisource Portfolio Solutions’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 earnings per share. equities analysts anticipate that Altisource Portfolio Solutions will post 2.72 earnings per share for the current fiscal year.

In other Altisource Portfolio Solutions news, CFO Indroneel Chatterjee purchased 1,200 shares of Altisource Portfolio Solutions stock in a transaction on Tuesday, October 31st. The shares were acquired at an average cost of $26.32 per share, for a total transaction of $31,584.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Deer Park Road Management Comp purchased 40,741 shares of Altisource Portfolio Solutions stock in a transaction on Friday, October 27th. The shares were acquired at an average price of $24.58 per share, for a total transaction of $1,001,413.78. The disclosure for this purchase can be found here. Insiders have acquired 84,683 shares of company stock worth $2,117,219 over the last quarter. Company insiders own 6.75% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Nomura Holdings Inc. grew its position in Altisource Portfolio Solutions by 23.4% during the second quarter. Nomura Holdings Inc. now owns 263,499 shares of the business services provider’s stock valued at $5,772,000 after acquiring an additional 50,018 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Altisource Portfolio Solutions by 13.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 119,785 shares of the business services provider’s stock valued at $2,614,000 after purchasing an additional 13,922 shares during the period. Fox Run Management L.L.C. purchased a new stake in shares of Altisource Portfolio Solutions during the third quarter valued at approximately $753,000. Alliancebernstein L.P. boosted its stake in shares of Altisource Portfolio Solutions by 154.4% during the second quarter. Alliancebernstein L.P. now owns 26,360 shares of the business services provider’s stock valued at $575,000 after purchasing an additional 16,000 shares during the period. Finally, Laurel Wealth Advisors Inc. purchased a new stake in shares of Altisource Portfolio Solutions during the second quarter valued at approximately $1,287,000. Institutional investors and hedge funds own 53.55% of the company’s stock.

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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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