Shares of Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) gapped down prior to trading on Friday following a dissappointing earnings announcement. The stock had previously closed at $17.75, but opened at $22.73. Altisource Portfolio Solutions shares last traded at $23.36, with a volume of 543,944 shares traded.

The company reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by $0.42. Altisource Portfolio Solutions had a net margin of 0.39% and a return on equity of 177.60%. The company earned $227.20 million during the quarter, compared to the consensus estimate of $212.67 million. During the same quarter in the previous year, the firm posted $1.86 EPS. The business’s revenue for the quarter was down 11.6% compared to the same quarter last year.

ASPS has been the subject of several recent research reports. Compass Point downgraded Altisource Portfolio Solutions from a “neutral” rating to a “sell” rating in a research report on Tuesday, November 1st. Zacks Investment Research downgraded Altisource Portfolio Solutions from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 1st.

Hedge funds have recently made changes to their positions in the stock. Omega Advisors Inc. increased its position in shares of Altisource Portfolio Solutions by 5.2% in the third quarter. Omega Advisors Inc. now owns 2,219,030 shares of the company’s stock worth $71,897,000 after buying an additional 109,005 shares in the last quarter. Numeric Investors LLC increased its position in shares of Altisource Portfolio Solutions by 820.4% in the second quarter. Numeric Investors LLC now owns 597,672 shares of the company’s stock worth $16,639,000 after buying an additional 532,735 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Altisource Portfolio Solutions by 24.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 397,316 shares of the company’s stock worth $10,565,000 after buying an additional 76,818 shares in the last quarter. CQS Cayman LP increased its position in shares of Altisource Portfolio Solutions by 7.1% in the third quarter. CQS Cayman LP now owns 375,000 shares of the company’s stock worth $12,150,000 after buying an additional 25,000 shares in the last quarter. Finally, Teachers Advisors LLC increased its position in shares of Altisource Portfolio Solutions by 6.5% in the third quarter. Teachers Advisors LLC now owns 270,923 shares of the company’s stock worth $8,778,000 after buying an additional 16,448 shares in the last quarter. Hedge funds and other institutional investors own 67.18% of the company’s stock.

The firm has a market capitalization of $440.02 million, a P/E ratio of 112.61 and a beta of 1.12. The company’s 50-day moving average price is $27.65 and its 200 day moving average price is $28.79.

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About Altisource Portfolio Solutions

Altisource Portfolio Solutions SA is a marketplace and transaction solutions provider for the real estate, mortgage and consumer debt industries. The Company operates through three segments: Mortgage Services, Financial Services and Technology Services. The Company’s Mortgage Services segment provides services that span the mortgage and real estate lifecycle, and are outsourced by loan servicers, loan originators, home investors, and other sellers and buyers of single family homes.

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