Altisource Portfolio Solutions (NASDAQ:ASPS) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.84 and traded as high as $0.85. Altisource Portfolio Solutions shares last traded at $0.82, with a volume of 54,075 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Altisource Portfolio Solutions in a research report on Saturday. They set a “sell” rating for the company.

Altisource Portfolio Solutions Trading Down 1.3 %

The firm has a market cap of $71.74 million, a PE ratio of -0.58 and a beta of 0.47. The company’s 50 day moving average price is $0.79 and its two-hundred day moving average price is $0.84.

Insiders Place Their Bets

In other news, CEO William B. Shepro purchased 210,498 shares of the stock in a transaction on Friday, March 28th. The shares were acquired at an average price of $0.48 per share, with a total value of $101,039.04. Following the completion of the acquisition, the chief executive officer now directly owns 310,498 shares of the company’s stock, valued at $149,039.04. This trade represents a 210.50 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 2.30% of the company’s stock.

Institutional Trading of Altisource Portfolio Solutions

Several institutional investors and hedge funds have recently modified their holdings of the company. Nantahala Capital Management LLC boosted its holdings in Altisource Portfolio Solutions by 95.1% in the 4th 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 during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Altisource Portfolio Solutions during the fourth quarter worth about $302,000. Finally, Geode Capital Management LLC raised its stake in Altisource Portfolio Solutions by 8.9% during 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 period. 41.36% of the stock is currently owned by institutional investors.

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.