Zacks Investment Research lowered shares of Consumer Portfolio Services, Inc. (NASDAQ:CPSS) from a hold rating to a sell rating in a report published on Wednesday 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. “

Consumer Portfolio Services (CPSS) opened at 4.02 on Wednesday. Consumer Portfolio Services has a 12-month low of $3.72 and a 12-month high of $6.05. The firm has a 50-day moving average price of $4.47 and a 200 day moving average price of $4.71. The firm has a market cap of $92.77 million, a PE ratio of 4.77 and a beta of 1.72.

Consumer Portfolio Services (NASDAQ:CPSS) last issued its quarterly earnings data on Monday, July 24th. The credit services provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by $0.01. Consumer Portfolio Services had a return on equity of 12.90% and a net margin of 5.49%. The firm had revenue of $110.07 million for the quarter, compared to the consensus estimate of $110.31 million. Equities research analysts forecast that Consumer Portfolio Services will post $0.69 EPS for the current year.

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Consumer Portfolio Services announced that its board has authorized a share repurchase plan on Monday, July 24th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the credit services provider to purchase up to 9.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

In other news, major shareholder Second Curve Capital Llc sold 10,000 shares of Consumer Portfolio Services stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $4.52, for a total value of $45,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 20,000 shares of company stock valued at $90,050. 37.50% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. UBS Group AG increased its stake in Consumer Portfolio Services by 1,213.0% in the first quarter. UBS Group AG now owns 24,882 shares of the credit services provider’s stock worth $117,000 after buying an additional 22,987 shares during the last quarter. Algert Global LLC increased its stake in Consumer Portfolio Services by 12.1% in the first quarter. Algert Global LLC now owns 31,928 shares of the credit services provider’s stock worth $150,000 after buying an additional 3,450 shares during the last quarter. Hancock Holding Co. increased its stake in Consumer Portfolio Services by 23.4% in the first quarter. Hancock Holding Co. now owns 37,570 shares of the credit services provider’s stock worth $177,000 after buying an additional 7,120 shares during the last quarter. Oxford Asset Management acquired a new stake in Consumer Portfolio Services during the first quarter worth $230,000. Finally, Spark Investment Management LLC increased its stake in Consumer Portfolio Services by 53.2% in the second quarter. Spark Investment Management LLC now owns 61,600 shares of the credit services provider’s stock worth $280,000 after buying an additional 21,400 shares during the last quarter. Institutional investors own 47.46% of the company’s stock.

Consumer Portfolio Services Company Profile

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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