Consumer Portfolio Services (NASDAQ:CPSS) Posts Quarterly Earnings Results

Consumer Portfolio Services (NASDAQ:CPSS) released its quarterly earnings data on Tuesday. The credit services provider reported $0.27 EPS for the quarter, Zacks reports. The firm had revenue of $57.14 million during the quarter. Consumer Portfolio Services had a net margin of 4.58% and a return on equity of 6.54%.

Consumer Portfolio Services Trading Down 3.5%

Shares of NASDAQ:CPSS opened at $9.26 on Wednesday. The company has a quick ratio of 7.48, a current ratio of 7.48 and a debt-to-equity ratio of 10.18. The company’s 50-day moving average price is $9.45 and its 200 day moving average price is $8.88. The company has a market cap of $200.96 million, a PE ratio of 10.90 and a beta of 1.13. Consumer Portfolio Services has a fifty-two week low of $6.67 and a fifty-two week high of $10.49.

Insider Buying and Selling

In other Consumer Portfolio Services news, VP Noel Jackson sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $9.63, for a total value of $67,410.00. Following the sale, the vice president owned 7,000 shares in the company, valued at approximately $67,410. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 63.70% of the company’s stock.

Institutional Trading of Consumer Portfolio Services

Several hedge funds have recently added to or reduced their stakes in CPSS. JPMorgan Chase & Co. increased its holdings in shares of Consumer Portfolio Services by 17.4% during the third quarter. JPMorgan Chase & Co. now owns 15,739 shares of the credit services provider’s stock valued at $119,000 after purchasing an additional 2,333 shares during the period. Empowered Funds LLC grew its position in Consumer Portfolio Services by 3.8% in the 1st quarter. Empowered Funds LLC now owns 150,808 shares of the credit services provider’s stock valued at $1,308,000 after buying an additional 5,588 shares in the last quarter. Wells Fargo & Company MN increased its stake in Consumer Portfolio Services by 50.5% during the 4th quarter. Wells Fargo & Company MN now owns 10,744 shares of the credit services provider’s stock valued at $100,000 after buying an additional 3,605 shares during the period. Barclays PLC increased its stake in Consumer Portfolio Services by 12.2% during the 4th quarter. Barclays PLC now owns 17,049 shares of the credit services provider’s stock valued at $159,000 after buying an additional 1,860 shares during the period. Finally, Citadel Advisors LLC bought a new stake in shares of Consumer Portfolio Services during the 3rd quarter worth about $163,000. Institutional investors own 47.57% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CPSS shares. Wall Street Zen upgraded shares of Consumer Portfolio Services to a “hold” rating in a research report on Saturday, July 18th. Weiss Ratings raised shares of Consumer Portfolio Services from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Consumer Portfolio Services presently has an average rating of “Hold”.

About Consumer Portfolio Services

Consumer Portfolio Services, Inc is a specialty finance company focused on originating and servicing retail installment contracts for the automotive industry. The company primarily serves subprime and near-prime borrowers by partnering with a network of franchised and independent auto dealers across the United States. By providing flexible financing solutions, CPS seeks to expand vehicle ownership opportunities for customers who may not qualify for traditional prime auto loans.

CPS operates through two principal segments: loan origination and servicing.