Consumer Portfolio Services (NASDAQ:CPSS) Announces Quarterly Earnings Results

Consumer Portfolio Services (NASDAQ:CPSS) posted its earnings results on Tuesday. The credit services provider reported $0.27 earnings per share for the quarter, Zacks reports. The company had revenue of $57.14 million for the quarter. Consumer Portfolio Services had a net margin of 4.78% and a return on equity of 6.96%.

Consumer Portfolio Services Stock Up 1.1%

Consumer Portfolio Services stock traded up $0.10 during trading hours on Thursday, reaching $9.29. The stock had a trading volume of 731 shares, compared to its average volume of 21,697. The business’s 50 day moving average price is $9.44 and its 200-day moving average price is $8.88. The company has a market cap of $201.48 million, a price-to-earnings ratio of 10.09 and a beta of 1.13. The company has a debt-to-equity ratio of 10.18, a current ratio of 7.48 and a quick ratio of 7.48. Consumer Portfolio Services has a 52 week low of $6.67 and a 52 week high of $10.49.

Wall Street Analyst Weigh In

CPSS has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of Consumer Portfolio Services from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, July 1st. Wall Street Zen raised shares of Consumer Portfolio Services to a “hold” rating in a report on Saturday, July 18th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold”.

Insider Buying and Selling

In other news, VP Noel Jackson sold 7,000 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $9.63, for a total value of $67,410.00. Following the sale, the vice president owned 7,000 shares in the company, valued at $67,410. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 63.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Consumer Portfolio Services

Several hedge funds have recently modified their holdings of CPSS. Wells Fargo & Company MN raised its holdings in shares of Consumer Portfolio Services by 50.5% during the fourth quarter. Wells Fargo & Company MN now owns 10,744 shares of the credit services provider’s stock valued at $100,000 after acquiring an additional 3,605 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Consumer Portfolio Services by 17.4% in the third quarter. JPMorgan Chase & Co. now owns 15,739 shares of the credit services provider’s stock valued at $119,000 after buying an additional 2,333 shares during the last quarter. Barclays PLC boosted its position in shares of Consumer Portfolio Services by 12.2% during the 4th quarter. Barclays PLC now owns 17,049 shares of the credit services provider’s stock worth $159,000 after purchasing an additional 1,860 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of Consumer Portfolio Services in the third quarter valued at approximately $163,000. Finally, Goldman Sachs Group Inc. increased its stake in Consumer Portfolio Services by 17.8% in the first quarter. Goldman Sachs Group Inc. now owns 31,752 shares of the credit services provider’s stock valued at $275,000 after purchasing an additional 4,789 shares during the last quarter. 47.57% of the stock is owned by hedge funds and other institutional investors.

Consumer Portfolio Services Company Profile

Consumer Portfolio Services, Inc is a specialty finance company focused on originating and servicing retail installment contracts for the automotive industry. The company primarily serves subprime and near-prime borrowers by partnering with a network of franchised and independent auto dealers across the United States. By providing flexible financing solutions, CPS seeks to expand vehicle ownership opportunities for customers who may not qualify for traditional prime auto loans.

CPS operates through two principal segments: loan origination and servicing.