$7.36
0.29 (+4.10%)
Asta Funding, Inc. (ASFI)
CAPS Rating:
Acquires, manages, collects and services portfolios of consumer receivables. These portfolios generally consist of one or more of the following types of consumer receivables: charged-off receivables; semi-performing receivables and performing receivables.
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Great entry point for a company turning cheap debt paper into real cash earnings. Consistenly applying over more and more portfolios of debt that are increasing in current environment is very lucrative...especially when you can buy the debt pennies on the dollar. financial companies themselves are on firesale today, look at wamu, countrywide, lehman, wachovia bank. this company is well positioned to purchase the 'worthless' debt these banks are desperate to get rid of to keep favorable capital levels in the eyes of lenders, regulatory agencies, and the investor community. ASFI is in the right place, at the right time, and at today's valuations, at the right price. also look at PRAA.