Consumer Portfolio Services (NASDAQ:CPSS) Stock Passes Above 200 Day Moving Average – Here’s Why

Shares of Consumer Portfolio Services, Inc. (NASDAQ:CPSS) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.60 and traded as high as $9.33. Consumer Portfolio Services shares last traded at $9.23, with a volume of 6,781 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Consumer Portfolio Services in a report on Monday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Consumer Portfolio Services Price Performance

The company has a current ratio of 9.27, a quick ratio of 9.27 and a debt-to-equity ratio of 10.06. The stock has a market capitalization of $204.28 million, a P/E ratio of 11.57 and a beta of 1.05. The company has a fifty day simple moving average of $8.48 and a two-hundred day simple moving average of $8.60.

Consumer Portfolio Services (NASDAQ:CPSS) last issued its quarterly earnings results on Monday, November 10th. The credit services provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.05). The business had revenue of $49.32 million for the quarter, compared to analyst estimates of $111.49 million. Consumer Portfolio Services had a return on equity of 6.49% and a net margin of 4.53%. Sell-side analysts expect that Consumer Portfolio Services, Inc. will post 0.85 EPS for the current fiscal year.

Insider Buying and Selling

In other Consumer Portfolio Services news, Director William B. Roberts sold 100,000 shares of the stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $8.69, for a total value of $869,000.00. Following the transaction, the director owned 485,702 shares of the company’s stock, valued at approximately $4,220,750.38. This represents a 17.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 63.70% of the company’s stock.

Institutional Trading of Consumer Portfolio Services

A number of hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in Consumer Portfolio Services by 17.4% in 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 in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Consumer Portfolio Services in the 2nd quarter valued at $29,000. Goldman Sachs Group Inc. increased its position in shares of Consumer Portfolio Services by 17.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 31,752 shares of the credit services provider’s stock valued at $275,000 after buying an additional 4,789 shares in the last quarter. Empowered Funds LLC raised its stake in Consumer Portfolio Services by 3.8% during the 1st quarter. Empowered Funds LLC now owns 150,808 shares of the credit services provider’s stock worth $1,308,000 after buying an additional 5,588 shares during the period. Finally, Voya Investment Management LLC raised its stake in Consumer Portfolio Services by 67.3% during the 1st quarter. Voya Investment Management LLC now owns 24,958 shares of the credit services provider’s stock worth $216,000 after buying an additional 10,037 shares during the period. 47.57% of the stock is currently owned by institutional investors and hedge funds.

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.