In a Form 4 filed with the Securities and Exchange Commission, Christian Leone’s Luxor Capital Group has disclosed sales on July 23 of 362,150 shares in Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) at prices ranging from $39.50 to $39.90. In its most recent 13F filing, Luxor Capital Group disclosed an ownership stake of 2.38 million shares in Altisource Portfolio Solutions. The fund now holds just under 1.87 million shares of the company, a 9.98% stake.
Luxor Capital Group is a multi-billion dollar hedge fund established and managed by Christian Leone. The New York-based hedge fund mainly invests in special situations, equity of distressed companies and global debt by employing a value-oriented stock picking approach. The investment management firm manages several separate client-focused equity, fixed income and balanced portfolios. The fund’s most recent 13F filing with the SEC for the March 31 reporting period reveals that it manages a public equity portfolio worth $6.19 billion, while its holdings are diversified among the following sectors: 47.52% in the services sector, 13.56% in the technology sector, and 8.36% and 5.19% in the financial and transportation sectors, respectively. In addition to that, the public equity portfolio managed by Christian Leone and his team is highly concentrated, with the top ten positions representing 66.52% of its entire portfolio.
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Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) is a marketplace and transaction solutions provider for the real estate, mortgage, and consumer debt industries in the United States. The company’s proprietary business processes, vendor and electronic payment management software, and behavioral science-based analytics improve outcomes for marketplace participants such as sub-prime servicers, utility companies, commercial banks, mortgage bankers, and investors, among others. The shares of Altisource Portfolio Solutions have grown by over 14% year-to-date despite suffering serious slumps at the beginning of the year.
