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

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

Altisource Portfolio Solutions Stock Down 3.3 %

Shares of Altisource Portfolio Solutions stock opened at $0.89 on Tuesday. Altisource Portfolio Solutions has a 12-month low of $0.43 and a 12-month high of $2.62. The stock has a market capitalization of $24.23 million, a P/E ratio of -0.63 and a beta of 0.87. The company has a 50-day simple moving average of $0.78 and a 200 day simple moving average of $0.90.

Institutional Investors Weigh In On Altisource Portfolio Solutions

A number of large investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its position in 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 purchasing an additional 16,390 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Altisource Portfolio Solutions in the fourth quarter valued at $302,000. Finally, Nantahala Capital Management LLC raised its holdings in shares of Altisource Portfolio Solutions by 95.1% in the fourth quarter. Nantahala Capital Management LLC now owns 2,128,284 shares of the business services provider’s stock valued at $1,399,000 after buying an additional 1,037,275 shares during the last quarter. 41.36% of the stock is currently owned by 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.