StockNews.com Upgrades Consumer Portfolio Services (NASDAQ:CPSS) to “Strong-Buy”

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

Consumer Portfolio Services Price Performance

NASDAQ:CPSS opened at $11.01 on Friday. The business’s 50-day simple moving average is $10.23 and its two-hundred day simple moving average is $9.54. Consumer Portfolio Services has a 52 week low of $7.03 and a 52 week high of $12.04. The stock has a market cap of $235.67 million, a PE ratio of 12.66 and a beta of 1.99. The company has a quick ratio of 19.16, a current ratio of 19.17 and a debt-to-equity ratio of 10.52.

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

Insider Transactions at Consumer Portfolio Services

In other news, Director Greg Washer sold 10,981 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $11.06, for a total value of $121,449.86. Following the sale, the director now directly owns 265,000 shares in the company, valued at $2,930,900. The trade was a 3.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William B. Roberts sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $10.76, for a total value of $538,000.00. Following the sale, the director now directly owns 850,078 shares in the company, valued at $9,146,839.28. The trade was a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 137,256 shares of company stock valued at $1,454,584. 69.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Barclays PLC raised its holdings in 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 purchased a new position in shares of Consumer Portfolio Services in the 3rd quarter worth approximately $445,000. Bank of New York Mellon Corp raised its stake 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 in the last quarter. Fisher Asset Management LLC bought a new position in shares of Consumer Portfolio Services during the 3rd quarter worth approximately $960,000. Finally, Empowered Funds LLC lifted its position in Consumer Portfolio Services by 5.3% during the third quarter. Empowered Funds LLC now owns 142,520 shares of the credit services provider’s stock valued at $1,337,000 after acquiring an additional 7,236 shares during the last quarter. 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.