Zacks Investment Research upgraded shares of Altisource Portfolio Solutions (NASDAQ:ASPS) from a hold rating to a buy rating in a research note published on Tuesday, Zacks.com reports. They currently have $17.00 price objective on the business services provider’s stock.

According to Zacks, “Altisource Portfolio Solutions S.A., together with its subsidiaries, is engaged in provision of real estate mortgage portfolio management and related technology products, as well as asset recovery and customer relationship management services. The Company has three segments: Mortgage Services, Financial Services and Technology Products. Mortgage Services provides valuation, real estate sales, default processing services, property inspection and preservation services, homeowner outreach, closing and title services and knowledge process outsourcing services. Financial Services comprises the Company’s asset recovery management and customer relationship management offerings to the financial services, consumer products, telecommunications and utilities industries. Technology Products is engaged in the design, development and delivery of technology products and services to the mortgage industry. “

ASPS has been the topic of a number of other reports. TheStreet cut Altisource Portfolio Solutions from a c- rating to a d+ rating in a research report on Thursday, March 12th. B. Riley reiterated a buy rating and issued a $15.00 price target on shares of Altisource Portfolio Solutions in a research report on Tuesday, June 16th. Northland Securities reiterated a neutral rating on shares of Altisource Portfolio Solutions in a research report on Wednesday, April 8th. ValuEngine raised Altisource Portfolio Solutions from a buy rating to a strong-buy rating in a research note on Tuesday, April 14th. Finally, BidaskClub lowered Altisource Portfolio Solutions from a hold rating to a sell rating in a research note on Wednesday, March 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $16.00.

ASPS opened at $14.54 on Tuesday. The stock has a market cap of $227.48 million, a PE ratio of -0.72 and a beta of 1.68. Altisource Portfolio Solutions has a 1 year low of $6.00 and a 1 year high of $23.58. The stock’s 50 day simple moving average is $12.84 and its 200-day simple moving average is $13.71.

Altisource Portfolio Solutions (NASDAQ:ASPS) last released its quarterly earnings data on Thursday, April 30th. The business services provider reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.08. Altisource Portfolio Solutions had a negative return on equity of 242.64% and a negative net margin of 52.72%. The business had revenue of $113.18 million for the quarter, compared to analysts’ expectations of $122.15 million. Analysts anticipate that Altisource Portfolio Solutions will post -1.95 earnings per share for the current year.

In other Altisource Portfolio Solutions news, major shareholder Deer Park Road Management Comp acquired 48,733 shares of Altisource Portfolio Solutions stock in a transaction on Friday, May 15th. The shares were bought at an average price of $8.54 per share, with a total value of $416,179.82. 30.57% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in shares of Altisource Portfolio Solutions by 1.2% during the first quarter. Geode Capital Management LLC now owns 122,912 shares of the business services provider’s stock valued at $942,000 after acquiring an additional 1,404 shares during the period. Parametric Portfolio Associates LLC lifted its stake in shares of Altisource Portfolio Solutions by 14.0% during the first quarter. Parametric Portfolio Associates LLC now owns 11,678 shares of the business services provider’s stock valued at $90,000 after acquiring an additional 1,430 shares during the period. Schroder Investment Management Group lifted its stake in shares of Altisource Portfolio Solutions by 30.0% during the fourth quarter. Schroder Investment Management Group now owns 6,798 shares of the business services provider’s stock valued at $131,000 after acquiring an additional 1,568 shares during the period. UBS Group AG lifted its stake in shares of Altisource Portfolio Solutions by 35.4% during the fourth quarter. UBS Group AG now owns 7,012 shares of the business services provider’s stock valued at $135,000 after acquiring an additional 1,834 shares during the period. Finally, Barclays PLC lifted its stake in shares of Altisource Portfolio Solutions by 67.3% during the fourth quarter. Barclays PLC now owns 5,772 shares of the business services provider’s stock valued at $111,000 after acquiring an additional 2,321 shares during the period. 52.96% 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 and internationally. 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, mortgage charge-off collection, residential and commercial loan disbursement processing, and residential and commercial construction inspection and risk mitigation services, as well as valuation data; residential and commercial loan servicing, vendor management, marketplace transaction and payment management, and default services technologies; and document management platform.

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