Altisource Portfolio Solutions (NASDAQ:ASPS) Shares Cross Above 50 Day Moving Average – What’s Next?

Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $5.73 and traded as high as $5.92. Altisource Portfolio Solutions shares last traded at $5.85, with a volume of 23,522 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ASPS shares. Zacks Research upgraded shares of Altisource Portfolio Solutions from a “strong sell” rating to a “hold” rating in a research note on Monday, September 21st. Weiss Ratings upgraded Altisource Portfolio Solutions from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, October 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Altisource Portfolio Solutions presently has a consensus rating of “Hold” and an average target price of $8.00.

Altisource Portfolio Solutions Price Performance

The firm has a 50-day simple moving average of $5.73 and a 200-day simple moving average of $6.18. The firm has a market capitalization of $66.87 million, a PE ratio of -6.57 and a beta of 0.05.

Altisource Portfolio Solutions (NASDAQ:ASPS) last released its quarterly earnings data on Thursday, October 29th. The business services provider reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.05). The firm had revenue of $51.92 million for the quarter, compared to analysts’ expectations of $50.60 million. Altisource Portfolio Solutions had a negative return on equity of 2.43% and a negative net margin of 5.10%. Equities analysts expect that Altisource Portfolio Solutions S.A. will post 0.17 earnings per share for the current year.

Institutional Trading of Altisource Portfolio Solutions

An institutional investor recently bought a new stake in Altisource Portfolio Solutions stock. Integrated Wealth Concepts LLC bought a new position in shares of Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 27,903 shares of the business services provider’s stock, valued at approximately $209,000. Integrated Wealth Concepts LLC owned approximately 0.24% of Altisource Portfolio Solutions at the end of the most recent quarter. Institutional investors own 41.36% of the company’s stock.

About Altisource Portfolio Solutions

Altisource Portfolio Solutions SA (NASDAQ:ASPS) is a technology and services company that supports the mortgage and real estate industries. It provides software, marketplaces and related services designed to help mortgage lenders, servicers, investors and other participants manage loans, properties and real estate transactions.

The company’s offerings have included Hubzu, an online marketplace for buying and selling residential and commercial properties, along with platforms and services for asset management, property preservation, valuation, real estate brokerage and other mortgage-related processes.