Altisource Portfolio Solutions S.A. (ASPS) is Downgraded by Piper Jaffray to Underweight, Lowers Price Target to $ 16

Altisource Portfolio Solutions S.A. (ASPS) was Downgraded by Piper Jaffray to ” Underweight” while Lowering the Price Target of the company shares to $ 16 from a previous price target of $24 . Earlier the firm had a rating of “Neutral ” on the company shares. Piper Jaffray advised their investors in a research report released on May 2, 2016.

On the company’s financial health, Altisource Portfolio Solutions S.A. reported $1.47 EPS for the quarter, beating the analyst consensus estimate by $ 0.67 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.80. The company had revenue of $234.30 million for the quarter, compared to analysts expectations of $236.90 million. The company’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.

Altisource Portfolio Solutions S.A. opened for trading at $29.04 and hit $30.1089 on the upside on Wednesday, eventually ending the session at $29.38, with a gain of 1.28% or 0.37 points. The heightened volatility saw the trading volume jump to 3,13,315 shares. Company has a market cap of $554 M.

In a different news, on Mar 30, 2016, William B Shepro (CEO) purchased 2,300 shares at $21.42 per share price. According to the SEC, on Mar 23, 2016, Gregory J. Ritts (General Counsel) purchased 500 shares at $24.14 per share price. On May 22, 2015, W Michael Linn (director) purchased 2,071 shares at $28.78 per share price, according to the Form-4 filing with the securities and exchange commission.

Altisource Portfolio Solutions S.A. is a provider of marketplace and transaction solutions for the real estate mortgage and consumer debt industries offering both distribution and content. The Company operates in 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 investors and other sellers of single family homes. The Financial Services segment provides collection and customer relationship management services to debt originators and servicers and the utility insurance and hotel industries. The Company’s Technology Services consists of REALSuite of software applications Equator LLC (Equator) software applications Mortgage Builder software applications and its information technology (IT) infrastructure management services.

Altisource Portfolio Solutions S.A.

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