Consumer Portfolio Services (NASDAQ:CPSS) Cut to “Buy” at StockNews.com

StockNews.com cut shares of Consumer Portfolio Services (NASDAQ:CPSS) from a strong-buy rating to a buy rating in a research report released on Thursday.

Consumer Portfolio Services Stock Up 3.1 %

Consumer Portfolio Services stock opened at $10.98 on Thursday. The firm has a 50 day moving average price of $10.56 and a 200-day moving average price of $9.76. The company has a quick ratio of 19.16, a current ratio of 19.17 and a debt-to-equity ratio of 10.52. Consumer Portfolio Services has a twelve month low of $7.03 and a twelve month high of $12.04. The company has a market capitalization of $235.03 million, a P/E ratio of 12.62 and a beta of 1.98.

Consumer Portfolio Services (NASDAQ:CPSS) last posted its quarterly earnings data on Thursday, October 31st. The credit services provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.01). Consumer Portfolio Services had a net margin of 5.59% and a return on equity of 7.59%. The firm had revenue of $100.58 million during the quarter, compared to analysts’ expectations of $98.34 million. As a group, equities analysts predict that Consumer Portfolio Services will post 0.85 EPS for the current year.

Insider Buying and Selling

In related news, VP April Crisp sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $11.15, for a total value of $27,875.00. Following the completion of the transaction, the vice president now directly owns 17,212 shares of the company’s stock, valued at approximately $191,913.80. This trade represents a 12.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William B. Roberts sold 50,000 shares of Consumer Portfolio Services stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $10.76, for a total transaction of $538,000.00. Following the completion of the transaction, the director now owns 850,078 shares of the company’s stock, valued at $9,146,839.28. This represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 139,756 shares of company stock valued at $1,482,459. 69.00% of the stock is owned by insiders.

Institutional Trading of Consumer Portfolio Services

A number of institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC grew its holdings in Consumer Portfolio Services by 297.6% during the 3rd quarter. Barclays PLC now owns 11,794 shares of the credit services provider’s stock valued at $110,000 after buying an additional 8,828 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Consumer Portfolio Services in the third quarter valued at approximately $445,000. Fisher Asset Management LLC purchased a new position in Consumer Portfolio Services during the third quarter valued at approximately $960,000. Bank of New York Mellon Corp increased its holdings in Consumer Portfolio Services by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 99,481 shares of the credit services provider’s stock worth $975,000 after acquiring an additional 1,343 shares during the period. Finally, Empowered Funds LLC lifted its stake in Consumer Portfolio Services by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 142,520 shares of the credit services provider’s stock worth $1,337,000 after purchasing an additional 7,236 shares in the last quarter. Hedge funds and other institutional investors own 47.57% of the company’s stock.

About Consumer Portfolio Services

Consumer Portfolio Services, Inc operates as a specialty finance company in the United States. It is involved in the purchase and service of retail automobile contracts originated by franchised automobile dealers and select independent dealers in the sale of new and used automobiles, light trucks, and passenger vans.