Altisource Portfolio Solutions S.A. (ASPS) Releases Earnings Results, Beats Expectations By $0.31 EPS

Altisource Portfolio Solutions S.A. (ASPS) reported quarterly earnings results on Thursday, Jul-21-2016. The company said it had a profit of $1.58 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.31. Analysts had a consensus of $1.27. The company posted revenue of $255.80 million in the period, compared to analysts expectations of $248.63 million. The company’s revenue was down -4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.22 EPS.

Many Wall Street Analysts have commented on Altisource Portfolio Solutions S.A.. Shares were Downgraded by Piper Jaffray on May 2, 2016 to ” Underweight” and Lowered the Price Target to $ 16 from a previous price target of $24 .

Altisource Portfolio Solutions S.A. opened for trading at $28.79 and hit $28.93 on the upside on Wednesday, eventually ending the session at $28.76, with a gain of 2.20% or 0.62 points. The heightened volatility saw the trading volume jump to 4,86,115 shares. Company has a market cap of $531 M.

In a different news, on May 3, 2016, William B Shepro (CEO) purchased 1,700 shares at $29.27 per share price. According to the SEC, on May 3, 2016, Kevin James Wilcox (Chief Administration Officer) purchased 1,700 shares at $29.36 per share price. On Mar 23, 2016, Gregory J. Ritts (General Counsel) purchased 500 shares at $24.14 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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