Consumer Portfolio Services (NASDAQ:CPSS) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Consumer Portfolio Services (NASDAQ:CPSS) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday morning.

Consumer Portfolio Services Stock Performance

Shares of CPSS opened at $10.36 on Thursday. The stock has a market capitalization of $221.81 million, a PE ratio of 11.91 and a beta of 2.00. The business’s fifty day moving average price is $9.98 and its 200 day moving average price is $9.36. The company has a debt-to-equity ratio of 10.52, a current ratio of 19.17 and a quick ratio of 19.16. Consumer Portfolio Services has a 12-month low of $7.03 and a 12-month high of $12.04.

Consumer Portfolio Services (NASDAQ:CPSS) last issued its earnings results on Thursday, October 31st. The credit services provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). Consumer Portfolio Services had a return on equity of 7.59% and a net margin of 5.59%. The business had revenue of $100.58 million for the quarter, compared to analyst estimates of $98.34 million. Equities research analysts forecast that Consumer Portfolio Services will post 0.85 EPS for the current year.

Insider Activity

In other news, Director Greg Washer sold 10,981 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $11.06, for a total transaction of $121,449.86. Following the completion of the transaction, the director now owns 265,000 shares in the company, valued at approximately $2,930,900. This represents a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John Patrick Harton sold 10,000 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $9.00, for a total transaction of $90,000.00. Following the completion of the sale, the vice president now directly owns 265,604 shares in the company, valued at approximately $2,390,436. This trade represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 247,256 shares of company stock valued at $2,497,284. 69.00% of the stock is currently owned by insiders.

Institutional Trading of Consumer Portfolio Services

A number of hedge funds and other institutional investors have recently modified their holdings of CPSS. 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 valued at $110,000 after acquiring an additional 8,828 shares during the last quarter. State Street Corp lifted its stake in Consumer Portfolio Services by 2.2% in the third quarter. State Street Corp now owns 186,220 shares of the credit services provider’s stock valued at $1,747,000 after acquiring an additional 3,922 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in shares of Consumer Portfolio Services in the 3rd quarter valued at $960,000. Segall Bryant & Hamill LLC acquired a new position in shares of Consumer Portfolio Services during the 3rd quarter valued at about $445,000. Finally, Empowered Funds LLC raised its position in shares of Consumer Portfolio Services by 5.3% in the third quarter. Empowered Funds LLC now owns 142,520 shares of the credit services provider’s stock valued at $1,337,000 after purchasing an additional 7,236 shares during the period. Institutional investors 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.