StockNews.com Initiates Coverage on Altisource Portfolio Solutions (NASDAQ:ASPS)

StockNews.com began coverage on shares of Altisource Portfolio Solutions (NASDAQ:ASPS) in a report published on Friday. The brokerage issued a sell rating on the business services provider’s stock.

Altisource Portfolio Solutions Stock Performance

NASDAQ:ASPS opened at $0.84 on Friday. The company has a market cap of $22.79 million, a price-to-earnings ratio of -0.59 and a beta of 0.90. Altisource Portfolio Solutions has a fifty-two week low of $0.43 and a fifty-two week high of $3.17. The stock has a fifty day moving average price of $0.75 and a 200-day moving average price of $0.97.

Institutional Investors Weigh In On Altisource Portfolio Solutions

A number of large investors have recently bought and sold shares of ASPS. Geode Capital Management LLC lifted its holdings in shares of Altisource Portfolio Solutions by 8.9% during the 4th quarter. Geode Capital Management LLC now owns 199,824 shares of the business services provider’s stock worth $131,000 after acquiring an additional 16,390 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Altisource Portfolio Solutions during the fourth quarter valued at approximately $302,000. Finally, Nantahala Capital Management LLC lifted its stake in Altisource Portfolio Solutions by 95.1% during the fourth quarter. Nantahala Capital Management LLC now owns 2,128,284 shares of the business services provider’s stock worth $1,399,000 after purchasing an additional 1,037,275 shares during the last quarter. 41.36% 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 through Servicer and Real Estate, and Origination segments. The Servicer and Real Estate segment offers property preservation, inspection, title insurance and settlement, real estate valuation, foreclosure trustee, and residential and commercial construction inspection and risk mitigation services.