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 research report issued to clients and investors on Friday. The brokerage set a “sell” rating on the business services provider’s stock.

Altisource Portfolio Solutions Trading Up 19.8 %

Shares of Altisource Portfolio Solutions stock opened at $1.15 on Friday. The company has a market cap of $31.31 million, a price-to-earnings ratio of -0.81 and a beta of 0.90. Altisource Portfolio Solutions has a 1 year low of $0.43 and a 1 year high of $3.17. The company’s fifty day simple moving average is $0.74 and its 200-day simple moving average is $0.98.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Altisource Portfolio Solutions stock. Geode Capital Management LLC raised its stake in shares of Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) by 8.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 199,824 shares of the business services provider’s stock after acquiring an additional 16,390 shares during the quarter. Geode Capital Management LLC owned approximately 0.73% of Altisource Portfolio Solutions worth $131,000 as of its most recent filing with the SEC. 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.