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

Equities researchers at StockNews.com initiated coverage on shares of Altisource Portfolio Solutions (NASDAQ:ASPS) in a report issued on Sunday. The brokerage set a “sell” rating on the business services provider’s stock.

Altisource Portfolio Solutions Stock Up 2.0 %

Altisource Portfolio Solutions stock opened at $0.74 on Friday. Altisource Portfolio Solutions has a 52-week low of $0.43 and a 52-week high of $3.36. The company has a market cap of $20.05 million, a P/E ratio of -0.52 and a beta of 0.90. The business has a 50-day simple moving average of $0.81 and a two-hundred day simple moving average of $1.08.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Altisource Portfolio Solutions stock. Deer Park Road Corp lifted its stake in Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) by 0.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,277,138 shares of the business services provider’s stock after buying an additional 28,162 shares during the quarter. Altisource Portfolio Solutions comprises 0.2% of Deer Park Road Corp’s portfolio, making the stock its 2nd biggest holding. Deer Park Road Corp owned 15.86% of Altisource Portfolio Solutions worth $6,031,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 41.36% of the company’s stock.

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.