Altisource Portfolio Solutions (NASDAQ:ASPS) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.45 and traded as high as $7.20. Altisource Portfolio Solutions shares last traded at $7.00, with a volume of 11,775 shares changing hands.

Analysts Set New Price Targets

Several brokerages recently weighed in on ASPS. Weiss Ratings cut shares of Altisource Portfolio Solutions from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, June 15th. B. Riley Financial initiated coverage on shares of Altisource Portfolio Solutions in a research report on Thursday, April 2nd. They issued a “buy” rating and a $8.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $8.00.

Altisource Portfolio Solutions Stock Up 2.0%

The firm has a fifty day simple moving average of $6.59 and a 200-day simple moving average of $6.45. The company has a market cap of $80.54 million, a PE ratio of 13.22 and a beta of 0.31.

Altisource Portfolio Solutions (NASDAQ:ASPS) last announced its earnings results on Tuesday, March 31st. The business services provider reported $0.19 earnings per share (EPS) for the quarter. Altisource Portfolio Solutions had a negative return on equity of 2.50% and a net margin of 3.61%. Equities research analysts forecast that Altisource Portfolio Solutions S.A. will post 0.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Altisource Portfolio Solutions

Hedge funds have recently modified their holdings of the business. Jane Street Group LLC acquired a new stake in Altisource Portfolio Solutions during the 4th quarter worth $75,000. Millennium Management LLC acquired a new position in Altisource Portfolio Solutions in the third quarter valued at $141,000. XTX Topco Ltd purchased a new stake in shares of Altisource Portfolio Solutions in the third quarter valued at about $589,000. Potomac Capital Management Inc. acquired a new stake in shares of Altisource Portfolio Solutions during the fourth quarter worth about $700,000. Finally, Vanguard Group Inc. boosted its stake in shares of 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 during the period. 41.36% of the stock is currently owned by hedge funds and other institutional investors.

Altisource Portfolio Solutions Company Profile

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.