Altisource Portfolio Solutions S.A. (ASPS) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 5,190,425 to 5,142,901 shares, with 8 days to go before the expiry. The short open interest has decreased by -0.9%, amounting to a reduction of -47,524 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 42.7% of the float of the company. The average daily volume of the stock is 607,056 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Altisource Portfolio Solutions S.A. (NASDAQ:ASPS): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $32.84 and $32.64 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $34.02. The buying momentum continued till the end and the stock did not give up its gains. It closed at $33.54, notching a gain of 2.51% for the day. The total traded volume was 517,316 . The stock had closed at $32.72 on the previous day.
In a related news, Erbey William C, 0 of Altisource Portfolio Solutions S.A., unloaded 57,142 shares at an average price of $23.81 on August 1, 2016. The total amount of the transaction was worth $1,360,551, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
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 Companys 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 Companys 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.