Altisource Portfolio Solutions (NASDAQ:ASPS) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Altisource Portfolio Solutions (NASDAQ:ASPS) in a research note issued to investors on Friday morning. The brokerage issued a sell rating on the business services provider’s stock.

Altisource Portfolio Solutions Price Performance

NASDAQ ASPS opened at $0.84 on Friday. The firm’s fifty day moving average price is $0.75 and its 200 day moving average price is $0.97. The company has a market capitalization of $22.79 million, a price-to-earnings ratio of -0.59 and a beta of 0.90. Altisource Portfolio Solutions has a 12 month low of $0.43 and a 12 month high of $3.17.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ASPS. Geode Capital Management LLC grew its position in shares of Altisource Portfolio Solutions by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 199,824 shares of the business services provider’s stock valued at $131,000 after buying an additional 16,390 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in Altisource Portfolio Solutions during the 4th quarter worth $302,000. Finally, Nantahala Capital Management LLC grew its position in Altisource Portfolio Solutions by 95.1% during the 4th 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 owned by hedge funds and other institutional investors.

About Altisource Portfolio Solutions

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.