Consumer Portfolio Services (NASDAQ:CPSS) Downgraded to Buy Rating by StockNews.com

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

Consumer Portfolio Services Stock Down 1.1 %

Shares of CPSS opened at $10.46 on Friday. The firm has a market cap of $223.90 million, a P/E ratio of 12.02 and a beta of 1.99. Consumer Portfolio Services has a 12 month low of $7.03 and a 12 month high of $12.04. The stock’s 50 day moving average is $10.36 and its two-hundred day moving average is $9.61. 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 (NASDAQ:CPSS) last released its quarterly earnings results on Thursday, October 31st. The credit services provider reported $0.20 earnings per share (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%. Analysts predict that Consumer Portfolio Services will post 0.85 earnings per share for the current fiscal year.

Insider Activity at Consumer Portfolio Services

In related news, VP Chris Terry sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $10.16, for a total transaction of $101,600.00. Following the transaction, the vice president now directly owns 203,656 shares in the company, valued at approximately $2,069,144.96. The trade was a 4.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Greg Washer sold 10,981 shares of the 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 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 139,756 shares of company stock valued at $1,482,459. 69.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Consumer Portfolio Services

A number of large investors have recently made changes to their positions in the stock. Barclays PLC lifted its position in 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 buying an additional 8,828 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Consumer Portfolio Services during the 3rd quarter worth $445,000. Bank of New York Mellon Corp raised its holdings in shares of 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 worth $975,000 after acquiring an additional 1,343 shares during the period. Fisher Asset Management LLC acquired a new position in shares of Consumer Portfolio Services during the 3rd quarter valued at about $960,000. Finally, Empowered Funds LLC grew 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 valued at $1,337,000 after buying an additional 7,236 shares during the period. 47.57% of the stock is currently owned by hedge funds and other institutional investors.

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.