Altisource Portfolio Solutions (NASDAQ:ASPS) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Altisource Portfolio Solutions (NASDAQ:ASPS) in a research note released on Tuesday morning. The brokerage issued a sell rating on the business services provider’s stock.

Altisource Portfolio Solutions Price Performance

ASPS opened at $0.80 on Tuesday. The business has a 50 day simple moving average of $0.78 and a 200-day simple moving average of $0.90. The stock has a market capitalization of $21.91 million, a P/E ratio of -0.57 and a beta of 0.87. Altisource Portfolio Solutions has a 12 month low of $0.43 and a 12 month high of $2.58.

Hedge Funds Weigh In On Altisource Portfolio Solutions

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in Altisource Portfolio Solutions by 8.9% during the fourth quarter. Geode Capital Management LLC now owns 199,824 shares of the business services provider’s stock worth $131,000 after buying an additional 16,390 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Altisource Portfolio Solutions during the fourth quarter worth $302,000. Finally, Nantahala Capital Management LLC increased its position in Altisource Portfolio Solutions by 95.1% during the fourth quarter. Nantahala Capital Management LLC now owns 2,128,284 shares of the business services provider’s stock worth $1,399,000 after buying an additional 1,037,275 shares in the last quarter. Hedge funds and other institutional investors own 41.36% 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 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.