Consumer Portfolio Services (CPSS) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of Consumer Portfolio Services (NASDAQ:CPSS) from a sell rating to a hold rating in a report released on Tuesday morning.
According to Zacks, “CONSUMER PORTFOLIO SERVICES is a consumer finance company that specializes in purchasing, selling, and servicing contracts with purchases of vechicles who are sub prime borrowers and are unable to obtain credit from traditional sources. “
A number of other research firms also recently issued reports on CPSS. TheStreet downgraded shares of Consumer Portfolio Services from a c rating to a d rating in a research note on Tuesday, October 31st. Jefferies Group reiterated a buy rating and set a $6.00 price objective on shares of Consumer Portfolio Services in a research note on Thursday, September 7th.
Consumer Portfolio Services (NASDAQ CPSS) opened at $4.59 on Tuesday. The company has a debt-to-equity ratio of 10.89, a quick ratio of 17.19 and a current ratio of 17.19. Consumer Portfolio Services has a one year low of $3.66 and a one year high of $5.69. The stock has a market cap of $99.95, a P/E ratio of 6.04 and a beta of 1.91.
Consumer Portfolio Services (NASDAQ:CPSS) last released its quarterly earnings data on Monday, October 23rd. The credit services provider reported $0.17 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.17. Consumer Portfolio Services had a net margin of 4.87% and a return on equity of 11.09%. The firm had revenue of $109.49 million for the quarter, compared to the consensus estimate of $112.39 million. analysts predict that Consumer Portfolio Services will post 0.66 EPS for the current year.
In related news, insider Curtis K. Powell sold 6,900 shares of the stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $4.36, for a total transaction of $30,084.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Second Curve Capital Llc sold 150,000 shares of the stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $4.21, for a total transaction of $631,500.00. The disclosure for this sale can be found here. Insiders have sold 235,100 shares of company stock valued at $989,660 in the last three months. 37.50% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Macquarie Group Ltd. purchased a new stake in Consumer Portfolio Services during the third quarter valued at approximately $114,000. Hancock Holding Co. lifted its position in Consumer Portfolio Services by 17.6% during the second quarter. Hancock Holding Co. now owns 44,185 shares of the credit services provider’s stock valued at $201,000 after acquiring an additional 6,615 shares during the last quarter. Numeric Investors LLC raised its holdings in shares of Consumer Portfolio Services by 0.5% in the second quarter. Numeric Investors LLC now owns 244,034 shares of the credit services provider’s stock worth $1,110,000 after buying an additional 1,329 shares during the last quarter. Morgan Stanley raised its holdings in shares of Consumer Portfolio Services by 12.5% in the first quarter. Morgan Stanley now owns 309,162 shares of the credit services provider’s stock worth $1,456,000 after buying an additional 34,327 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Consumer Portfolio Services by 0.9% in the second quarter. Vanguard Group Inc. now owns 760,620 shares of the credit services provider’s stock worth $3,461,000 after buying an additional 6,530 shares during the last quarter. 48.35% of the stock is owned by institutional investors.
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About Consumer Portfolio Services
Consumer Portfolio Services, Inc is a specialty finance company. The Company’s business is to purchase and service retail automobile contracts originated primarily by franchised automobile dealers and by select independent dealers in the United States in the sale of new and used automobiles, light trucks and passenger vans.
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