Last $975.00 USD
Change Today +35.00 / 3.72%
Volume 15.6K
AAMC On Other Exchanges
Symbol
Exchange
NYSE Amex
As of 8:04 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

altisource asset management (AAMC) Snapshot

Open
$940.00
Previous Close
$940.00
Day High
$1,000
Day Low
$940.00
52 Week High
01/15/14 - $1,209
52 Week Low
04/19/13 - $132.10
Market Cap
2.3B
Average Volume 10 Days
18.2K
EPS TTM
$-22.08
Shares Outstanding
2.4M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for ALTISOURCE ASSET MANAGEMENT (AAMC)

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altisource asset management (AAMC) Details

Altisource Asset Management Corporation provides asset management and corporate governance services for institutional investors in the United States. The company offers its services under a residential asset management agreement to Altisource Residential Corporation, which acquires and owns single-family rental assets. It also provides management services to NewSource Reinsurance Company Ltd, a title insurance and reinsurance company. The company was founded in 2012 and is headquartered in Frederiksted, Virgin Islands.

7 Employees
Last Reported Date: 02/20/14
Founded in 2012

altisource asset management (AAMC) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $8.1K
Compensation as of Fiscal Year 2012.

altisource asset management (AAMC) Key Developments

Altisource Asset Management Corporation Files Certificate of Designations

On March 18, 2014, Altisource Asset Management Corporation filed a certificate of designations to create the Series A Preferred Stock with the Office of the Lieutenant Governor, Division of Corporations and Trademarks of the United States Virgin Islands. The Certificate of Designations, which forms a part of the company's Amended and Restated Articles of Incorporation, specifies the terms of the Series A Preferred Stock. The holders of shares of Series A Preferred Stock will not be entitled to receive dividends with respect to the Series A Preferred Stock. The shares of Series A Preferred Stock are convertible into shares of common stock of the company at a conversion price of $1,250 per share, subject to certain anti-dilution adjustments. The company is required to redeem all outstanding shares of the Series A Preferred Stock for cash on March 15, 2044 (the mandatory redemption date). Prior to the mandatory redemption date, the company will have the right to redeem all, but not less than all, of the Series A Preferred Stock for cash on March 15, 2020 and on each successive five year anniversary of March 15, 2020 occurring prior the mandatory redemption date (each such date, an early redemption date). Each holder of the Series A Preferred Stock will also have the right to require the company to redeem on each early redemption date all, but not less than all, the Series A Preferred Stock held by such holder. In each case, the redemption price will equal $1,000 per share. Upon a change of control of the company or upon the liquidation, dissolution or winding up of the company, holders of the Series A Preferred Stock will be entitled to receive an amount in cash per Series A Preferred Stock equal to the greater of: (i) $1,000 plus the aggregate amount of each cash dividend paid on the number of shares of common stock into which such share of Series A Preferred Stock was convertible on each ex-dividend date for such dividend; and (ii) the number of shares of common stock into which the Series A Preferred Stock is then convertible multiplied by the then current market price of the common stock. The Series A Preferred Stock confers no voting rights on holders, except with respect to matters that materially and adversely affect the voting powers, rights or preferences of the Series A Preferred Stock or as otherwise required by applicable law. With respect to the distribution of assets upon the liquidation, dissolution or winding up of the company, the Series A Preferred Stock ranks senior to the common stock and on parity with all other classes of preferred stock that may be issued by the company in the future.

Altisource Asset Management Corporation Appoints Adam Appleby as the Chief Operating Officer

On March 11, 2014, Altisource Asset Management Corporation appointed Adam Appleby, age 40, as the Chief Operating Officer of the company. Prior to his appointment, Mr. Appleby had served as a Mortgage Operations Executive of Ally Bank since July 2013 and, from September 2011 to June 2013, was Ally Bank's Enterprise Risk Officer.

Altisource Asset Management Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Fiscal Year Ended December 31, 2013

Altisource Asset Management Corporation announced unaudited consolidated earnings results for the fourth quarter and fiscal year ended December 31, 2013. For the quarter, the company reported rental Revenue was $30,000, total rental revenues and net gain on investments was $41,626,000, net income was $21,247,000, net loss attributable to stockholders was $397,000 or $0.17 diluted loss per share. Adjusted earnings for the fourth quarter of 2013 totaled $4.0 million. For the year, the company reported rental Revenue was $36,000, total rental revenues and net gain on investments was $71,610,000, net income was $34,303,000, net loss attributable to common stockholders was $5,293,000 or $2.26 diluted loss per share. GAAP net cash used in operating activities was $22,563,000 and GAAP generated cash flow was $22,645,000. Adjusted earnings for the full year of 2013 totaled $2.5 million.

 

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Valuation AAMC Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 32.0x
Price/Book 304.5x
Price/Cash Flow NM Not Meaningful
TEV/Sales 10.9x
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