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 note published on Monday.

Consumer Portfolio Services Price Performance

Shares of NASDAQ:CPSS opened at $8.81 on Monday. The company has a current ratio of 19.17, a quick ratio of 19.16 and a debt-to-equity ratio of 10.52. Consumer Portfolio Services has a 1 year low of $7.03 and a 1 year high of $12.73. The business has a fifty day simple moving average of $8.87 and a 200 day simple moving average of $10.08. The firm has a market cap of $189.94 million, a price-to-earnings ratio of 10.13 and a beta of 0.93.

Consumer Portfolio Services (NASDAQ:CPSS) last announced its quarterly earnings data on Monday, May 12th. The credit services provider reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.11). Consumer Portfolio Services had a return on equity of 7.59% and a net margin of 5.59%. The firm had revenue of $106.87 million for the quarter, compared to analysts’ expectations of $109.99 million. As a group, sell-side analysts predict that Consumer Portfolio Services will post 0.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Consumer Portfolio Services news, Director Greg Washer sold 6,254 shares of the business’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $9.16, for a total value of $57,286.64. Following the completion of the sale, the director now owns 318,746 shares of the company’s stock, valued at $2,919,713.36. The trade was a 1.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William B. Roberts sold 6,259 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $9.41, for a total value of $58,897.19. Following the completion of the sale, the director now directly owns 690,078 shares of the company’s stock, valued at $6,493,633.98. This represents a 0.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,563 shares of company stock valued at $163,000 over the last quarter. Insiders own 69.00% of the company’s stock.

Institutional Trading of Consumer Portfolio Services

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN lifted its position in shares of Consumer Portfolio Services by 25.2% in the fourth quarter. Wells Fargo & Company MN now owns 4,883 shares of the credit services provider’s stock worth $53,000 after buying an additional 984 shares during the last quarter. Barclays PLC lifted its position in shares of Consumer Portfolio Services by 297.6% during the 3rd quarter. Barclays PLC now owns 11,794 shares of the credit services provider’s stock worth $110,000 after purchasing an additional 8,828 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Consumer Portfolio Services by 21.8% during the 4th quarter. Bank of America Corp DE now owns 13,335 shares of the credit services provider’s stock worth $145,000 after purchasing an additional 2,383 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Consumer Portfolio Services by 17.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 31,752 shares of the credit services provider’s stock worth $275,000 after purchasing an additional 4,789 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Consumer Portfolio Services by 620.5% during the 4th quarter. JPMorgan Chase & Co. now owns 29,173 shares of the credit services provider’s stock worth $317,000 after purchasing an additional 25,124 shares during the last quarter. Institutional investors and hedge funds 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.