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

Consumer Portfolio Services (NASDAQ:CPSS) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday.

Consumer Portfolio Services Trading Down 0.4 %

NASDAQ CPSS opened at $10.62 on Friday. The company has a debt-to-equity ratio of 10.52, a quick ratio of 19.16 and a current ratio of 19.17. Consumer Portfolio Services has a one year low of $7.03 and a one year high of $12.04. The company has a 50-day simple moving average of $10.04 and a 200-day simple moving average of $9.40. The firm has a market capitalization of $227.37 million, a PE ratio of 12.21 and a beta of 1.99.

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

Insider Buying and Selling

In other news, Director Greg Washer sold 10,981 shares of Consumer Portfolio Services stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $11.06, for a total transaction of $121,449.86. Following the sale, the director now owns 265,000 shares of the company’s stock, valued at approximately $2,930,900. The trade was a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Charles E. Bradley, Jr. sold 70,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $9.85, for a total value of $689,500.00. Following the transaction, the chief executive officer now owns 3,720,092 shares of the company’s stock, valued at approximately $36,642,906.20. This represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 262,256 shares of company stock worth $2,667,334 in the last three months. 69.00% of the stock is owned by insiders.

Institutional Trading of Consumer Portfolio Services

Hedge funds have recently added to or reduced their stakes in the business. Barclays PLC grew its stake in shares of Consumer Portfolio Services by 297.6% in the third 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 in the last quarter. Segall Bryant & Hamill LLC bought a new position in Consumer Portfolio Services in the 3rd quarter valued at about $445,000. Bank of New York Mellon Corp increased its stake in Consumer Portfolio Services by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 99,481 shares of the credit services provider’s stock valued at $975,000 after buying an additional 1,343 shares during the period. Fisher Asset Management LLC bought a new stake in shares of Consumer Portfolio Services during the 3rd quarter worth about $960,000. Finally, Empowered Funds LLC lifted its stake in shares of Consumer Portfolio Services by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 142,520 shares of the credit services provider’s stock worth $1,337,000 after acquiring 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.