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Last $8.17 USD
Change Today +0.04 / 0.49%
Volume 5.5K
As of 8:10 PM 07/28/15 All times are local (Market data is delayed by at least 15 minutes).

asta funding inc (ASFI) Snapshot

Open
$8.17
Previous Close
$8.13
Day High
$8.20
Day Low
$8.17
52 Week High
12/8/14 - $9.50
52 Week Low
07/21/15 - $7.57
Market Cap
106.7M
Average Volume 10 Days
13.1K
EPS TTM
$1.22
Shares Outstanding
13.1M
EX-Date
12/20/12
P/E TM
6.7x
Dividend
--
Dividend Yield
--
Current Stock Chart for ASTA FUNDING INC (ASFI)

asta funding inc (ASFI) Related Businessweek News

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asta funding inc (ASFI) Details

Asta Funding, Inc., together with its subsidiaries, operates as a consumer receivable asset management company in the United States. It operates through four segments: Consumer Receivables, Personal Injury Claims, Structured Settlements, and Disability Advocacy. The company is involved in the purchase, management, and servicing distressed 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 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 claims. The company also purchases periodic structured settlements and annuity policies from individuals in exchange for a lump sum payment. In addition, it assists claimants in obtaining long term disability benefits from the social security administration. Asta Funding, Inc. was founded in 1994 and is based in Englewood Cliffs, New Jersey.

80 Employees
Last Reported Date: 06/29/15
Founded in 1994

asta funding inc (ASFI) Top Compensated Officers

Chairman, Chief Executive Officer, President ...
Total Annual Compensation: $593.6K
Chief Financial Officer, Secretary and Member...
Total Annual Compensation: $275.0K
Senior Vice President and President of Gar Di...
Total Annual Compensation: $176.9K
Chief Compliance Officer, General Counsel and...
Total Annual Compensation: $269.2K
Compensation as of Fiscal Year 2014.

asta funding inc (ASFI) Key Developments

Asta Funding Inc. Restates Interim Financial Statements for the Three Quarters Ended June 30, 2014

Asta Funding Inc. restated its previously-filed interim financial statements for the three quarters ended June 30, 2014. The restatement had an effect of reducing the company's reported net income for the nine months ended June 30, 2014 by $3.6 million. The effect on the restated results of operations for the nine month period ended June 30, 2014, was a reduction of pre-tax income of $5.5 million with an associated tax benefit of $1.9 million.

Asta Funding Receives Non-Compliance Notice From NASDAQ

On May 13, 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 (Form 10-Q) for the quarterly period ended March 31, 2015. In addition, on February 11, 2015, the Company received a staff determination letter from Nasdaq stating that the Company was not in compliance with its rules for continued listing, Rule 5250(c)(1), because it had not timely filed its Quarterly Report on Form 10-Q for the quarterly period ended December 31, 2014. Also, 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 Company filed the Plan on March 6, 2015. The Plan was timely submitted by the Company and the Nasdaq Staff has granted 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. The Company intends to file the Form 10-K and Form 10-Q with the SEC as soon as it clears the SEC comments. 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. If, however, for any reason it is unable to file the Form 10-K and Forms 10-Q on or before June 29, 2015, the Company’s common stock would be delisted from Nasdaq, unless the Company would prevail at a hearing of which there can be no assurance.

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.

 

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ASFI

Industry Average

Valuation ASFI Industry Range
Price/Earnings 17.3x
Price/Sales 2.7x
Price/Book 0.6x
Price/Cash Flow 17.1x
TEV/Sales 1.0x
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