Consumer Portfolio Services, Inc. (CPSS) Earns Buy Rating from Jefferies Group LLC

Jefferies Group LLC reiterated their buy rating on shares of Consumer Portfolio Services, Inc. (NASDAQ:CPSS) in a research note released on Thursday. They currently have a $6.00 target price on the credit services provider’s stock.

Separately, Zacks Investment Research raised shares of Consumer Portfolio Services from a strong sell rating to a hold rating in a report on Tuesday, June 20th.

Consumer Portfolio Services (NASDAQ:CPSS) opened at 4.15 on Thursday. The stock has a market cap of $94.34 million, a price-to-earnings ratio of 4.93 and a beta of 1.63. Consumer Portfolio Services has a 52 week low of $3.66 and a 52 week high of $6.05. The company has a 50 day moving average price of $4.02 and a 200 day moving average price of $4.50.

Consumer Portfolio Services (NASDAQ:CPSS) last posted its quarterly earnings results on Monday, July 24th. The credit services provider reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by $0.01. The firm had revenue of $110.07 million for the quarter, compared to analysts’ expectations of $110.31 million. Consumer Portfolio Services had a return on equity of 12.76% and a net margin of 5.49%. Analysts expect that Consumer Portfolio Services will post $0.69 EPS for the current fiscal year.

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Consumer Portfolio Services declared that its Board of Directors has initiated a share buyback plan on Monday, July 24th that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the credit services provider to repurchase up to 9.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

In other Consumer Portfolio Services news, major shareholder Second Curve Capital Llc sold 15,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $3.97, for a total value of $59,550.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 35,000 shares of company stock valued at $138,750. 37.50% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. increased its holdings in Consumer Portfolio Services by 0.6% in the first quarter. Goldman Sachs Group Inc. now owns 70,127 shares of the credit services provider’s stock valued at $330,000 after buying an additional 397 shares in the last quarter. Numeric Investors LLC increased its holdings in Consumer Portfolio Services by 0.5% in the second quarter. Numeric Investors LLC now owns 244,034 shares of the credit services provider’s stock valued at $1,110,000 after buying an additional 1,329 shares in the last quarter. Algert Global LLC increased its holdings in Consumer Portfolio Services by 12.1% in the first quarter. Algert Global LLC now owns 31,928 shares of the credit services provider’s stock valued at $150,000 after buying an additional 3,450 shares in the last quarter. Vanguard Group Inc. increased its holdings in Consumer Portfolio Services by 0.9% in the second quarter. Vanguard Group Inc. now owns 760,620 shares of the credit services provider’s stock valued at $3,461,000 after buying an additional 6,530 shares in the last quarter. Finally, Hancock Holding Co. increased its holdings in Consumer Portfolio Services by 17.6% in the second quarter. Hancock Holding Co. now owns 44,185 shares of the credit services provider’s stock valued at $201,000 after buying an additional 6,615 shares in the last quarter. 46.74% of the stock is owned by institutional investors.

About Consumer Portfolio Services

Consumer Portfolio Services, Inc is a specialty finance company. The Company’s business is to purchase and service retail automobile contracts originated primarily by franchised automobile dealers and by select independent dealers in the United States in the sale of new and used automobiles, light trucks and passenger vans.

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