Investors Purchase Large Volume of Altisource Portfolio Call Options (ASPS)

Altisource Portfolio (NASDAQ:ASPS) saw some unusual options trading activity on Monday. Investors purchased 1,675 call options on the stock. This is an increase of approximately 2,104% compared to the typical volume of 76 call options.

Shares of NASDAQ ASPS traded up $0.21 during midday trading on Thursday, reaching $25.99. 90,016 shares of the company traded hands, compared to its average volume of 186,702. Altisource Portfolio has a 52 week low of $16.17 and a 52 week high of $46.99. The company has a quick ratio of 2.48, a current ratio of 2.48 and a debt-to-equity ratio of 1.19. The stock has a market cap of $460.22, a P/E ratio of 9.25, a P/E/G ratio of 0.64 and a beta of 1.05.

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Altisource Portfolio (NASDAQ:ASPS) last issued its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.07). Altisource Portfolio had a net margin of 33.47% and a return on equity of 39.07%. The company had revenue of $216.07 million for the quarter, compared to the consensus estimate of $197.50 million. During the same quarter in the prior year, the firm earned $0.55 earnings per share. Altisource Portfolio’s revenue for the quarter was down 9.5% compared to the same quarter last year. sell-side analysts anticipate that Altisource Portfolio will post 2.07 earnings per share for the current fiscal year.

Several brokerages have recently issued reports on ASPS. BidaskClub raised shares of Altisource Portfolio from a “hold” rating to a “buy” rating in a report on Wednesday, January 24th. Zacks Investment Research upgraded shares of Altisource Portfolio from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th. Three equities research analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $22.33.

In other news, major shareholder Deer Park Road Management Comp purchased 200,000 shares of Altisource Portfolio stock in a transaction dated Monday, February 12th. The stock was bought at an average price of $23.75 per share, with a total value of $4,750,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have bought 412,875 shares of company stock valued at $10,295,189. Corporate insiders own 6.75% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Macquarie Group Ltd. bought a new stake in Altisource Portfolio in the fourth quarter worth about $140,000. The Manufacturers Life Insurance Company raised its position in Altisource Portfolio by 4.2% in the second quarter. The Manufacturers Life Insurance Company now owns 8,924 shares of the business services provider’s stock worth $195,000 after acquiring an additional 358 shares in the last quarter. Wells Fargo & Company MN raised its position in Altisource Portfolio by 0.4% in the second quarter. Wells Fargo & Company MN now owns 10,463 shares of the business services provider’s stock worth $228,000 after acquiring an additional 39 shares in the last quarter. First Trust Advisors LP bought a new stake in Altisource Portfolio in the third quarter worth about $240,000. Finally, Millennium Management LLC bought a new stake in Altisource Portfolio in the fourth quarter worth about $298,000. Institutional investors and hedge funds own 66.77% of the company’s stock.

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About Altisource Portfolio

Altisource Portfolio Solutions SA operates as an integrated service provider and marketplace for the real estate and mortgage industries in the United States. It operates in two segments, Mortgage Market and Real Estate Market. The company offers property preservation and inspection, real estate brokerage and auction, title insurance and settlement, appraisal management, broker and non-broker valuation, foreclosure trustee, residential and commercial loan servicing technology, vendor management, marketplace transaction and payment management technology, document management platform, default services technology, and mortgage charge-off collection services.

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