Asta Funding, Inc. (NASDAQ:ASFI) released its quarterly earnings results on Wednesday. The business services provider reported $0.27 EPS for the quarter, Bloomberg Earnings reports. Asta Funding had a net margin of 3.08% and a return on equity of 1.01%. The business had revenue of $14.78 million during the quarter.
Shares of Asta Funding (NASDAQ:ASFI) traded down 0.840% during midday trading on Thursday, hitting $7.437. 2,420 shares of the stock were exchanged. The firm has a 50-day moving average of $7.55 and a 200-day moving average of $8.13. Asta Funding has a 1-year low of $6.15 and a 1-year high of $11.97. The company has a market capitalization of $48.80 million, a P/E ratio of 130.474 and a beta of 0.42.
A hedge fund recently bought a new stake in Asta Funding stock. Municipal Employees Retirement System of Michigan bought a new position in shares of Asta Funding, Inc. (NASDAQ:ASFI) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 95,750 shares of the business services provider’s stock, valued at approximately $785,000. Municipal Employees Retirement System of Michigan owned about 1.46% of Asta Funding at the end of the most recent reporting period. Institutional investors own 17.66% of the company’s stock.
Separately, TheStreet cut shares of Asta Funding from a “c” rating to a “d+” rating in a research note on Friday, May 26th.
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About Asta Funding
Asta Funding, Inc is primarily engaged in the businesses of acquiring, managing, servicing and recovering on portfolios of consumer receivables. The Company operates through four segments: Consumer Receivables, Personal Injury Claims, Structured Settlements and GAR Disability Advocates. The Consumer receivables segment is engaged in purchasing, managing for its own account and servicing distressed consumer receivables, including charged off receivables, semi-performing receivables and performing receivables.
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