Consumer Portfolio Services (NASDAQ:CPSS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, 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 lowered Consumer Portfolio Services from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd.
CPSS stock opened at $3.31 on Monday. The business has a 50 day moving average of $3.39 and a 200 day moving average of $3.52. The firm has a market cap of $73.68 million, a PE ratio of 6.49 and a beta of 1.50. Consumer Portfolio Services has a twelve month low of $2.99 and a twelve month high of $4.65. The company has a quick ratio of 11.54, a current ratio of 11.54 and a debt-to-equity ratio of 10.46.
Consumer Portfolio Services (NASDAQ:CPSS) last released its earnings results on Tuesday, October 29th. The credit services provider reported $0.08 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.08. Consumer Portfolio Services had a return on equity of 4.32% and a net margin of 3.05%. The business had revenue of $85.52 million for the quarter, compared to the consensus estimate of $84.61 million. On average, research analysts expect that Consumer Portfolio Services will post 0.31 earnings per share for the current fiscal year.
In other Consumer Portfolio Services news, Director Greg Washer sold 40,000 shares of Consumer Portfolio Services stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $3.42, for a total value of $136,800.00. Following the completion of the transaction, the director now directly owns 290,444 shares of the company’s stock, valued at $993,318.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 46.00% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC increased its holdings in shares of Consumer Portfolio Services by 8.1% in the 2nd quarter. Renaissance Technologies LLC now owns 352,909 shares of the credit services provider’s stock worth $1,341,000 after purchasing an additional 26,302 shares in the last quarter. Black Diamond Capital Management L.L.C. lifted its holdings in shares of Consumer Portfolio Services by 490.6% during 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 in the last quarter. California Public Employees Retirement System boosted its position in shares of Consumer Portfolio Services by 5.8% during the third quarter. California Public Employees Retirement System now owns 118,000 shares of the credit services provider’s stock valued at $424,000 after buying an additional 6,500 shares during the last quarter. BlackRock Inc. boosted its position in shares of Consumer Portfolio Services by 18.1% during the second quarter. BlackRock Inc. now owns 759,535 shares of the credit services provider’s stock valued at $2,887,000 after buying an additional 116,290 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Consumer Portfolio Services by 4.4% in the 2nd quarter. Vanguard Group Inc. now owns 658,270 shares of the credit services provider’s stock worth $2,501,000 after buying an additional 28,006 shares in the last quarter. Institutional investors and hedge funds own 48.38% of the company’s stock.
Consumer Portfolio Services Company Profile
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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