StockNews.com Downgrades Consumer Portfolio Services (NASDAQ:CPSS) to Buy

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

Consumer Portfolio Services Price Performance

Shares of CPSS stock opened at $10.52 on Wednesday. Consumer Portfolio Services has a 52-week low of $7.03 and a 52-week high of $12.73. The stock has a market cap of $225.23 million, a PE ratio of 12.09 and a beta of 1.98. The company has a debt-to-equity ratio of 10.52, a quick ratio of 19.16 and a current ratio of 19.17. The firm’s 50 day moving average price is $11.15 and its two-hundred day moving average price is $10.16.

Insiders Place Their Bets

In other Consumer Portfolio Services news, Director William B. Roberts sold 10,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $10.33, for a total value of $103,300.00. Following the sale, the director now directly owns 724,803 shares in the company, valued at approximately $7,487,214.99. This trade represents a 1.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP April Crisp sold 2,500 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $11.15, for a total transaction of $27,875.00. Following the completion of the sale, the vice president now owns 17,212 shares in the company, valued at approximately $191,913.80. This trade represents a 12.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,775 shares of company stock worth $397,149. Company insiders own 69.00% of the company’s stock.

Institutional Investors Weigh In On Consumer Portfolio Services

A number of hedge funds and other institutional investors have recently made changes to their positions in CPSS. Verity & Verity LLC acquired a new stake in shares of Consumer Portfolio Services during the fourth quarter worth $1,309,000. Fisher Asset Management LLC acquired a new stake in shares of Consumer Portfolio Services during the third quarter worth $960,000. Segall Bryant & Hamill LLC acquired a new stake in shares of Consumer Portfolio Services during the third quarter worth $445,000. JPMorgan Chase & Co. raised its holdings in shares of Consumer Portfolio Services by 620.5% during the fourth quarter. JPMorgan Chase & Co. now owns 29,173 shares of the credit services provider’s stock worth $317,000 after acquiring an additional 25,124 shares during the period. Finally, Barclays PLC raised its holdings in shares of Consumer Portfolio Services by 297.6% during the third quarter. Barclays PLC now owns 11,794 shares of the credit services provider’s stock worth $110,000 after acquiring an additional 8,828 shares during the period. 47.57% of the stock is currently owned by institutional investors and hedge funds.

Consumer Portfolio Services Company Profile

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.