FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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OMB Number: 3235-0287
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

STERN RICKY 		2. Issuer Name and Ticker or Trading Symbol

ASTA FUNDING INC [ ASFI ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      __ X __ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Senior Vice President
(Last)          (First)          (Middle)

C/O ASTA FUNDING, INC., 210 SYLVAN AVE. 		3. Date of Earliest Transaction (MM/DD/YYYY)

2/23/2017
(Street)

ENGLEWOOD CLIFFS, NJ 07632
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, par value $.01 per share   2/23/2017     P    471086   (1) A $10.35   714364   I   As Trustee and Beneficiary of Ricky Stern Family 2012 Trust  
Common Stock, par value $.01 per share                  503590   I   As co-Trustee and Beneficiary of the Ricky Stern 2012 GST Trust  
Common Stock, par value $.01 per share                  2590   I   As co-Trustee of the Emily Stern 2012 GST Trust   (2)
Common Stock, par value $.01 per share                  243278   I   As Trustee for Emily Stern Family 2012 Trust   (2)
Common Stock, par value $.01 per share                  862000   I   see footnote   (3)
Common Stock, par value $.01 per share                  30220   I   Representing proportionate interest in shares held by Asta Group, Incorporated  
Common Stock, par value $.01 per share                  268142   D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Explanation of Responses:
( 1)  The shares are to be acquired pursuant to a Securities Purchase Agreement dated as of January 6, 2017, by and among The Mangrove Partners Master Fund, Ltd., The Mangrove Partners Fund, L.P., Mangrove Partners Fund (Cayman), Ltd., Mangrove Partners, Mangrove Capital and Nathaniel August (collectively, the "Sellers") and Gary Stern (the "Purchaser"). The Purchaser has assigned his right and obligation to purchase the shares under such Securities Purchase Agreement to the Ricky Stern Family 2012 Trust. Securities acquired by the Ricky Stern Family 2012 Trust may be deemed beneficially owned by the Reporting Person because of his positions as trustee and beneficiary of the Ricky Stern Family 2012 Trust. The closing of the purchase of the shares is expected to occur on March 10, 2017.
( 2)  The Reporting Person may be deemed to have beneficial ownership of the shares held in such trust because of his position as Trustee of such trust and as an immediate family member of the beneficiary of such trust. The Reporting Person disclaims any beneficial ownership of the shares held by such trust in excess of the Reporting Person's beneficial ownership therein for purposes of Section 16.
( 3)  Shares held by GMS Family Investors, LLC may be deemed beneficially owned by the Reporting Person because of his position as sole manager of GMS Family Investors, LLC. The Reporting Person disclaims beneficial ownership of the shares held by GMS Family Investors, LLC in excess of his pecuniary interest therein for purposes of Section 16.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
STERN RICKY
C/O ASTA FUNDING, INC.
210 SYLVAN AVE.
ENGLEWOOD CLIFFS, NJ 07632
X Senior Vice President

Signatures
/s/ Ricky Stern 2/27/2017
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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