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Last $8.37 USD
Change Today +0.13 / 1.58%
Volume 7.5K
ASFI On Other Exchanges
Symbol
Exchange
Berlin
NASDAQ GS
As of 8:10 PM 04/21/15 All times are local (Market data is delayed by at least 15 minutes).

asta funding inc (ASFI) Snapshot

Open
$8.32
Previous Close
$8.24
Day High
$8.37
Day Low
$8.22
52 Week High
12/8/14 - $9.50
52 Week Low
10/15/14 - $7.81
Market Cap
108.7M
Average Volume 10 Days
8.4K
EPS TTM
$1.84
Shares Outstanding
13.0M
EX-Date
12/20/12
P/E TM
4.5x
Dividend
--
Dividend Yield
--
Current Stock Chart for ASTA FUNDING INC (ASFI)

asta funding inc (ASFI) Related Businessweek News

No Related Businessweek News Found

asta funding inc (ASFI) Details

Asta Funding, Inc., together with its subsidiaries, operates as a consumer receivable asset management company in the United States. The company is engaged in the purchase, management, and liquidation of performing and non-performing consumer receivables, including charged-off receivables consisting of accounts that have been written-off by the originators and might have been previously serviced by collection agencies; semi-performing receivables, including accounts where the debtor is currently making partial or irregular monthly payments, but the accounts might have been written-off by the originators; performing receivables comprising accounts where the debtor is making regular monthly payments that might or might not have been delinquent in the past; and distressed consumer receivables, such as the unpaid debts of individuals to banks, finance companies, and other credit and service providers. The company’s distressed consumer receivables include MasterCard, Visa, and other credit card accounts, which were charged-off by the issuers or providers for non-payment. It also invests in funding personal injury and matrimonial litigation claims. Asta Funding, Inc. was founded in 1994 and is based in Englewood Cliffs, New Jersey.

72 Employees
Last Reported Date: 12/13/13
Founded in 1994

asta funding inc (ASFI) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $677.5K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $275.0K
Chief Compliance Officer and General Counsel
Total Annual Compensation: $280.0K
Compensation as of Fiscal Year 2013.

asta funding inc (ASFI) Key Developments

Asta Funding Receives Non-Compliance Notice From NASDAQ

On February 11, 2015, Asta Funding, Inc. received a staff determination letter from Nasdaq (Nasdaq) stating that the Company was not in compliance with its rules for continued listing, Rule 5250(c)(1), because it has not timely filed its Quarterly Report on Form 10-Q for the quarterly period ended December 31, 2014. On January 5, 2015, the Company received a staff determination letter because the Company did not file its Annual Report on Form 10-K for the fiscal year ended September 30, 2014. In the January 5, 2015 letter, Nasdaq indicated that the Company had 60 days to submit a plan to regain compliance. The 60 day period indicated in the January 5, 2015 runs concurrent to the Form 10-Q. The Company has until March 6, 2015 to regain compliance with respect to these delinquent reports. If such a plan is timely submitted by the Company, the Nasdaq Staff may grant the Company up to 180 calendar days from the due date of the Form 10-K (or June 29, 2015) to regain compliance. As disclosed in the Company’s Form 12b-25, Notification of Late Filing, filed with the Securities and Exchange Commission (the “SEC”) on December 15, 2014, the Company experienced delays in the collection, compilation and analysis of certain information that may be included in the Form 10-K. As previously reported, the Company has received several comment letters beginning on March 7, 2014 from the SEC, the last dated October 6, 2014, concerning its Form 10-K for the fiscal year ended September 30, 2013. The SEC requested, among other things, information concerning the Company’s revenue recognition policy on consumer receivables acquired for liquidation and the Company’s application of accounting principles generally accepted in the United States (“GAAP”) thereon. The Company is in the process of continuing to address the questions raised by the SEC. The Company accounts for its investment in consumer receivables acquired for liquidation under ASC 310-30 - Loans and Debt Securities Acquired with Deteriorated Credit Quality, and believes it has accounted for this investment and the related revenue in accordance with GAAP. The Company intends to file the Form 10-K and Form 10-Q with the SEC as soon as it clears the SEC comments. If, however, for any reason it is unable to file the Form 10-K and Form 10-Q on or before March 6, 2015, the Company intends to submit a plan to regain compliance to the Nasdaq Listing Qualifications Department no later than March 6, 2015. No assurance can be given that Nasdaq will grant an exception for the full 180-day period contemplated in Nasdaq Marketplace Rules, if at all. Under Nasdaq’s rules, the Company’s common stock will continue to be listed on Nasdaq until March 6, 2015, and for any exception period that may be granted to the Company by the Nasdaq Listing Qualifications Department. However, until the Company regains compliance, quotation information for the Company’s common stock will include an indicator of the Company’s non-compliance and the Company will be included in a list of non-compliant companies on the Nasdaq website.

Asta Funding Receives Non Compliance Notice From Nasdaq Relating to Its Late Report on Form 10-K

On January 5, 2015, Asta Funding Inc. received a staff determination letter from the Nasdaq (Nasdaq) stating that the Company was not in compliance with its rules for continued listing, Rule 4310(c)(14), because it has not timely filed its Annual Report on Form 10-K for the year ended September 30, 2014. The Nasdaq letter indicated that the Company has 60 days to submit a plan to regain compliance. If such a plan is timely submitted by the Company, the Nasdaq Staff may grant the Company up to 180 calendar days from the due date of the Annual Report on Form 10-K (or June 29, 2015) to regain compliance. As disclosed in the Company's Form 12b-25, Notification of Late Filing, filed with the Securities and Exchange Commission (the "SEC") on December 15, 2014, the Company experienced delays in the collection, compilation and analysis of certain information that may be included in the Annual Report on Form 10-K. As previously reported, the Company has received several comment letters beginning on March 7, 2014 from the SEC, the last dated October 6, 2014, concerning its Annual Report on Form 10-K for the fiscal year ended September 30, 2013. The SEC requested, among other things, information concerning the Company's revenue recognition policy on consumer receivables acquired for liquidation and the Company's application of accounting principles generally accepted in the United States ("GAAP") thereon. The Company is in the process of continuing to address the questions raised by the SEC. The Company accounts for its investment in consumer receivables acquired for liquidation under ASC 310-30 - Loans and Debt Securities Acquired with Deteriorated Credit Quality, and believes it has accounted for this investment and the related revenue in accordance with GAAP. The Company intends to file the Annual Report on Form 10-K with the Securities and Exchange Commission as soon as possible. If, however, for any reason it is unable to file the Annual Report on Form 10-K on or before March 6, 2015, the Company intends to submit a plan to regain compliance to the Nasdaq Listing Qualifications Department no later than March 6, 2015. No assurance can be given that Nasdaq will grant an exception for the full 180-day period contemplated in the Nasdaq Marketplace Rules, if at all. Under Nasdaq's rules, the Company's common stock will continue to be listed on Nasdaq until March 6, 2015, and for any exception period that may be granted to the Company by the Nasdaq Listing Qualifications Department. However, until the Company regains compliance, quotation information for the Company's common stock will include an indicator of the Company's non-compliance and the Company will be included in a list of non-compliant companies on the Nasdaq website.

Asta Funding Inc. announced delayed annual 10-K filing

On 12/15/2014, Asta Funding Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC.

 

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Industry Analysis

ASFI

Industry Average

Valuation ASFI Industry Range
Price/Earnings 9.6x
Price/Sales 2.7x
Price/Book 0.6x
Price/Cash Flow 9.5x
TEV/Sales 1.4x
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