Consumer Portfolio Services, Inc. (NASDAQ:CPSS) Sees Large Decrease in Short Interest

Consumer Portfolio Services, Inc. (NASDAQ:CPSS) was the recipient of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 486,000 shares, a decrease of 5.3% from the January 15th total of 513,200 shares. Based on an average trading volume of 34,100 shares, the days-to-cover ratio is presently 14.3 days. Approximately 5.5% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Consumer Portfolio Services from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 14th.

Insider Activity

In other news, Director William B. Roberts sold 15,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $10.45, for a total value of $156,750.00. Following the completion of the sale, the director now owns 700,078 shares of the company’s stock, valued at approximately $7,315,815.10. This represents a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP April Crisp sold 2,500 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $11.15, for a total value of $27,875.00. Following the completion of the sale, the vice president now directly owns 17,212 shares of the company’s stock, valued at approximately $191,913.80. The trade was a 12.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 45,775 shares of company stock worth $481,069. 69.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Consumer Portfolio Services

Several hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN grew its position in shares of Consumer Portfolio Services by 25.2% in the fourth quarter. Wells Fargo & Company MN now owns 4,883 shares of the credit services provider’s stock valued at $53,000 after purchasing an additional 984 shares in the last quarter. Barclays PLC lifted its stake in shares of Consumer Portfolio Services by 11.5% in the 4th quarter. Barclays PLC now owns 13,147 shares of the credit services provider’s stock valued at $143,000 after acquiring an additional 1,353 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Consumer Portfolio Services by 21.8% in the 4th quarter. Bank of America Corp DE now owns 13,335 shares of the credit services provider’s stock valued at $145,000 after acquiring an additional 2,383 shares during the last quarter. Geode Capital Management LLC increased its holdings in Consumer Portfolio Services by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 193,181 shares of the credit services provider’s stock valued at $2,098,000 after purchasing an additional 2,411 shares during the period. Finally, Empowered Funds LLC increased its holdings in Consumer Portfolio Services by 1.9% during the 4th quarter. Empowered Funds LLC now owns 145,220 shares of the credit services provider’s stock valued at $1,577,000 after purchasing an additional 2,700 shares during the period. 47.57% of the stock is currently owned by hedge funds and other institutional investors.

Consumer Portfolio Services Stock Performance

Shares of Consumer Portfolio Services stock opened at $11.24 on Wednesday. The company has a current ratio of 19.17, a quick ratio of 19.16 and a debt-to-equity ratio of 10.52. The business’s fifty day simple moving average is $11.14 and its 200 day simple moving average is $10.12. Consumer Portfolio Services has a 12 month low of $7.03 and a 12 month high of $12.73. The firm has a market capitalization of $240.59 million, a P/E ratio of 12.92 and a beta of 1.98.

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.