Zacks Investment Research upgraded shares of Consumer Portfolio Services (NASDAQ:CPSS) from a hold rating to a buy rating in a research note published on Tuesday. The brokerage currently has $4.75 price target on the credit services provider’s stock.
According to Zacks, “CONSUMER PORTFOLIO SERVICES is a consumer finance company that specializes in purchasing, selling, and servicing contracts with purchases of vechicles who are sub prime borrowers and are unable to obtain credit from traditional sources. “
Separately, TheStreet cut shares of Consumer Portfolio Services from a c rating to a d rating in a research note on Tuesday, October 31st.
Consumer Portfolio Services (NASDAQ:CPSS) last announced its quarterly earnings data on Wednesday, February 14th. The credit services provider reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.03. Consumer Portfolio Services had a net margin of 0.87% and a return on equity of 9.77%. The company had revenue of $107.23 million during the quarter, compared to analysts’ expectations of $110.31 million. analysts forecast that Consumer Portfolio Services will post 0.83 earnings per share for the current fiscal year.
In other Consumer Portfolio Services news, major shareholder Second Curve Capital Llc sold 8,000 shares of the stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $4.10, for a total transaction of $32,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Curtis K. Powell sold 6,900 shares of the stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $4.36, for a total transaction of $30,084.00. The disclosure for this sale can be found here. Insiders sold a total of 264,900 shares of company stock valued at $1,109,284 in the last ninety days. 37.50% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Continental Advisors LLC boosted its position in Consumer Portfolio Services by 21.2% during the 3rd quarter. Continental Advisors LLC now owns 1,326,211 shares of the credit services provider’s stock valued at $6,048,000 after buying an additional 232,055 shares during the period. Macquarie Group Ltd. purchased a new stake in Consumer Portfolio Services during the 3rd quarter valued at $114,000. Cornerstone Investment Partners LLC boosted its position in Consumer Portfolio Services by 100.0% during the 4th quarter. Cornerstone Investment Partners LLC now owns 40,000 shares of the credit services provider’s stock valued at $166,000 after buying an additional 20,000 shares during the period. Vanguard Group Inc. boosted its position in Consumer Portfolio Services by 0.9% during the 2nd 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 during the period. Finally, Wells Fargo & Company MN boosted its position in Consumer Portfolio Services by 433.8% during the 4th quarter. Wells Fargo & Company MN now owns 36,333 shares of the credit services provider’s stock valued at $151,000 after buying an additional 29,526 shares during the period. 47.54% of the stock is owned by institutional investors and hedge funds.
Consumer Portfolio Services Company Profile
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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