Altisource Portfolio Solutions (NASDAQ:ASPS) released its quarterly earnings results on Thursday, April 25th. The business services provider reported ($0.20) earnings per share for the quarter, meeting the consensus estimate of ($0.20), Briefing.com reports. Altisource Portfolio Solutions had a negative return on equity of 1.44% and a negative net margin of 0.55%. The firm had revenue of $169.90 million for the quarter, compared to analysts’ expectations of $167.20 million. During the same period in the prior year, the firm earned ($0.24) EPS. The company’s revenue was down 13.9% compared to the same quarter last year.
NASDAQ:ASPS traded down $1.07 on Friday, reaching $21.97. 62,100 shares of the company’s stock traded hands, compared to its average volume of 72,569. The stock has a market cap of $379.78 million, a PE ratio of -68.66 and a beta of 1.03. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 1.09. Altisource Portfolio Solutions has a 12 month low of $19.36 and a 12 month high of $37.86.
A number of brokerages recently commented on ASPS. Zacks Investment Research cut Altisource Portfolio Solutions from a “hold” rating to a “sell” rating in a report on Thursday, May 2nd. BidaskClub cut Altisource Portfolio Solutions from a “hold” rating to a “sell” rating in a report on Saturday, March 30th. Finally, Northland Securities reaffirmed a “hold” rating and issued a $30.00 target price on shares of Altisource Portfolio Solutions in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company. Altisource Portfolio Solutions currently has a consensus rating of “Hold” and an average price target of $29.50.
Institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA grew its position in shares of Altisource Portfolio Solutions by 274.8% during the first quarter. BNP Paribas Arbitrage SA now owns 1,945 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 1,426 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Altisource Portfolio Solutions by 467.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,888 shares of the business services provider’s stock valued at $65,000 after purchasing an additional 2,379 shares in the last quarter. Brandywine Global Investment Management LLC grew its position in Altisource Portfolio Solutions by 29.2% in the fourth quarter. Brandywine Global Investment Management LLC now owns 8,890 shares of the business services provider’s stock worth $200,000 after acquiring an additional 2,010 shares in the last quarter. Bank of America Corp DE grew its position in Altisource Portfolio Solutions by 115.6% in the fourth quarter. Bank of America Corp DE now owns 10,874 shares of the business services provider’s stock worth $244,000 after acquiring an additional 5,831 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new position in Altisource Portfolio Solutions in the fourth quarter worth about $297,000. Hedge funds and other institutional investors own 68.74% of the company’s stock.
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 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, mortgage charge-off collection, residential and commercial loan disbursement processing, and residential and commercial construction inspection and risk mitigation services, as well as valuation data; residential and commercial loan servicing, vendor management, marketplace transaction and payment management, and default services technologies; and document management platform.
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