Altisource Portfolio Solutions (ASPS) Cut to Hold at BidaskClub

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BidaskClub cut shares of Altisource Portfolio Solutions (NASDAQ:ASPS) from a buy rating to a hold rating in a research note released on Thursday morning.

Several other research analysts have also recently weighed in on ASPS. Zacks Investment Research raised shares of Altisource Portfolio Solutions from a sell rating to a hold rating in a report on Tuesday, June 26th. ValuEngine cut shares of Altisource Portfolio Solutions from a strong-buy rating to a buy rating in a report on Friday, June 1st. Finally, TheStreet raised shares of Altisource Portfolio Solutions from a c rating to a b- rating in a report on Friday, August 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $26.00.

Altisource Portfolio Solutions stock opened at $34.01 on Thursday. The firm has a market capitalization of $577.52 million, a PE ratio of 18.42 and a beta of 0.96. Altisource Portfolio Solutions has a fifty-two week low of $23.18 and a fifty-two week high of $37.86. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 1.13.

Altisource Portfolio Solutions (NASDAQ:ASPS) last released its quarterly earnings results on Thursday, July 26th. The business services provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.05). The firm had revenue of $218.56 million during the quarter, compared to the consensus estimate of $225.00 million. Altisource Portfolio Solutions had a return on equity of 12.90% and a net margin of 34.66%. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.48 EPS. sell-side analysts anticipate that Altisource Portfolio Solutions will post 0.21 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new position in Altisource Portfolio Solutions in the second quarter valued at $233,000. A.R.T. Advisors LLC bought a new position in Altisource Portfolio Solutions in the first quarter valued at $230,000. Millennium Management LLC bought a new position in Altisource Portfolio Solutions in the fourth quarter valued at $298,000. Element Capital Management LLC bought a new position in Altisource Portfolio Solutions in the first quarter valued at $472,000. Finally, Athanor Capital LP bought a new position in Altisource Portfolio Solutions in the first quarter valued at $754,000. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Altisource Portfolio Solutions Company Profile

Altisource Portfolio Solutions SA operates as an integrated service provider and marketplace for the real estate and mortgage industries in the United States. It operates in two segments, Mortgage Market and Real Estate Market. The company offers property preservation and inspection, real estate brokerage and auction, title insurance and settlement, appraisal management, broker and non-broker valuation, foreclosure trustee, residential and commercial loan servicing technology, vendor management, marketplace transaction and payment management technology, document management platform, default services technology, and mortgage charge-off collection services.

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