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

StockNews.com assumed coverage on shares of Altisource Portfolio Solutions (NASDAQ:ASPS) in a note issued to investors on Thursday. The firm set a “sell” rating on the business services provider’s stock.

Altisource Portfolio Solutions Stock Up 1.3 %

Altisource Portfolio Solutions stock opened at $0.74 on Thursday. The firm has a 50 day moving average price of $0.97 and a 200-day moving average price of $1.21. Altisource Portfolio Solutions has a twelve month low of $0.70 and a twelve month high of $3.94. The company has a market capitalization of $20.10 million, a P/E ratio of -0.52 and a beta of 0.86.

Institutional Trading of Altisource Portfolio Solutions

An institutional investor recently raised its position in Altisource Portfolio Solutions stock. Deer Park Road Corp grew its position in shares of Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,277,138 shares of the business services provider’s stock after buying an additional 28,162 shares during the period. Altisource Portfolio Solutions accounts for 0.2% of Deer Park Road Corp’s investment portfolio, making the stock its 2nd largest position. Deer Park Road Corp owned about 15.86% of Altisource Portfolio Solutions worth $6,031,000 at the end of the most recent reporting period. 41.36% of the stock is owned by hedge funds and other 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.