Zacks Investment Research lowered shares of Consumer Portfolio Services (NASDAQ:CPSS) from a hold rating to a sell rating in a research report report published on Monday morning, Zacks.com reports.
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. “
Separately, ValuEngine downgraded shares of Consumer Portfolio Services from a buy rating to a hold rating in a report on Tuesday, December 3rd.
Shares of NASDAQ CPSS opened at $3.35 on Monday. The company has a debt-to-equity ratio of 10.46, a current ratio of 11.54 and a quick ratio of 11.54. The stock has a fifty day moving average price of $3.39 and a 200 day moving average price of $3.52. Consumer Portfolio Services has a 1-year low of $2.99 and a 1-year high of $4.65. The company has a market cap of $73.68 million, a PE ratio of 6.57 and a beta of 1.50.
Consumer Portfolio Services (NASDAQ:CPSS) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. The company had revenue of $85.52 million for the quarter, compared to analysts’ expectations of $84.61 million. Consumer Portfolio Services had a net margin of 3.05% and a return on equity of 4.32%. Analysts anticipate that Consumer Portfolio Services will post 0.31 earnings per share for the current fiscal year.
In related news, Director Greg Washer sold 13,369 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $3.42, for a total value of $45,721.98. Following the completion of the sale, the director now owns 290,744 shares in the company, valued at $994,344.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 46.00% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. Black Diamond Capital Management L.L.C. lifted its stake in shares of Consumer Portfolio Services by 490.6% in the second quarter. Black Diamond Capital Management L.L.C. now owns 2,766,706 shares of the credit services provider’s stock valued at $10,513,000 after purchasing an additional 2,298,242 shares during the period. BlackRock Inc. lifted its position in shares of Consumer Portfolio Services by 18.1% during the 2nd quarter. BlackRock Inc. now owns 759,535 shares of the credit services provider’s stock valued at $2,887,000 after acquiring an additional 116,290 shares during the period. Vanguard Group Inc. lifted its position in shares of Consumer Portfolio Services by 4.4% during the 2nd quarter. Vanguard Group Inc. now owns 658,270 shares of the credit services provider’s stock valued at $2,501,000 after acquiring an additional 28,006 shares during the period. Renaissance Technologies LLC lifted its position in shares of Consumer Portfolio Services by 8.1% during the 2nd quarter. Renaissance Technologies LLC now owns 352,909 shares of the credit services provider’s stock valued at $1,341,000 after acquiring an additional 26,302 shares during the period. Finally, California Public Employees Retirement System boosted its stake in shares of Consumer Portfolio Services by 5.8% during the 3rd quarter. California Public Employees Retirement System now owns 118,000 shares of the credit services provider’s stock worth $424,000 after acquiring an additional 6,500 shares in the last quarter. Hedge funds and other institutional investors own 48.38% of the company’s stock.
About Consumer Portfolio Services
Consumer Portfolio Services, Inc operates as a specialty finance company in the United States. It purchases and services 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. The company, through its automobile contract purchases, offers indirect financing to the customers of dealers with limited credit histories, low incomes, or past credit problems.
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