Altisource Portfolio Solutions (ASPS) Downgraded to Hold at ValuEngine

Altisource Portfolio Solutions (NASDAQ:ASPS) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

ASPS has been the subject of several other reports. BidaskClub raised Altisource Portfolio Solutions from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 23rd. Zacks Investment Research lowered Altisource Portfolio Solutions from a “hold” rating to a “sell” rating in a report on Tuesday, June 19th. Finally, TheStreet raised Altisource Portfolio Solutions from a “c” rating to a “b-” rating in a report on Friday, August 17th. Four analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and an average target price of $26.00.

Altisource Portfolio Solutions stock traded down $0.55 during midday trading on Thursday, hitting $32.33. The stock had a trading volume of 38,000 shares, compared to its average volume of 129,171. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 1.13. The firm has a market cap of $574.28 million, a P/E ratio of 11.55 and a beta of 0.96. Altisource Portfolio Solutions has a 12 month low of $23.18 and a 12 month high of $37.86.

Altisource Portfolio Solutions (NASDAQ:ASPS) last announced its quarterly earnings data on Thursday, July 26th. The business services provider reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ 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 net margin of 34.66% and a return on equity of 12.90%. The firm’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 earnings per share. equities research analysts anticipate that Altisource Portfolio Solutions will post 0.21 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new stake in Altisource Portfolio Solutions in the second quarter valued at about $233,000. A.R.T. Advisors LLC bought a new position in shares of Altisource Portfolio Solutions during the first quarter valued at approximately $230,000. Element Capital Management LLC bought a new position in shares of Altisource Portfolio Solutions during the first quarter valued at approximately $472,000. Athanor Capital LP bought a new position in shares of Altisource Portfolio Solutions during the first quarter valued at approximately $754,000. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of Altisource Portfolio Solutions by 12.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 30,152 shares of the business services provider’s stock valued at $801,000 after purchasing an additional 3,443 shares during the last quarter. 71.17% of the stock is owned by hedge funds and other institutional investors.

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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