Altisource Residential Corp (RESI) reported quarterly earnings results on Monday, May-9-2016. The company said it had a profit of $0.30 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.24. The company posted revenue of $40.10 million in the period, compared to analysts expectations of $59.18 million. The company’s revenue was down -54.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS.
Many Wall Street Analysts have commented on Altisource Residential Corp. Altisource Residential Corp was Downgraded by JMP Securities to ” Mkt Perform” on Mar 9, 2016. Shares were Reiterated by Compass Point on Mar 1, 2016 to “Buy” and Lowered the Price Target to $ 14 from a previous price target of $17 .
Altisource Residential Corp closed down -0.06 points or -0.55% at $10.93 with 3,09,810 shares getting traded on Friday. Post opening the session at $10.9, the shares hit an intraday low of $10.83 and an intraday high of $11.18 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Nov 17, 2015, David B Reiner (director) purchased 7,500 shares at $12.90 per share price. According to the SEC, on Nov 12, 2015, George G Ellison (CEO) purchased 37,000 shares at $13.76 per share price. On Aug 17, 2015, Robin N Lowe (CFO) purchased 7,000 shares at $14.48 per share price, according to the Form-4 filing with the securities and exchange commission.
Altisource Residential Corporation is a real estate investment trust (REIT). The Company is focused on acquiring owning and managing single-family rental properties throughout the United States. It acquires its single-family rental properties primarily through the acquisition of sub-performing and non-performing loan portfolios. It conducts most of its activities through its operating partnership Altisource Residential L.P. and its subsidiaries. The Company is engaged in the management of single-family rental properties using Altisource Portfolio Solutions S.A.s (Altisource) vendor network. Its contracted relationships with manufacturers and material suppliers who are also used by Altisource enable it to manage the ordering and delivery of flooring appliances paint fixtures and lighting for renovation and unit turn work. It has direct access to Altisources inspection and estimating application. It is managed by Altisource Asset Management Corporation (AAMC).