Consumer Portfolio Services (NASDAQ:CPSS) Lowered to Buy Rating by StockNews.com

StockNews.com downgraded shares of Consumer Portfolio Services (NASDAQ:CPSS - Free Report) from a strong-buy rating to a buy rating in a research note released on Friday morning.

Consumer Portfolio Services Price Performance

Shares of NASDAQ CPSS traded down $0.29 during trading hours on Friday, reaching $9.72. 12,118 shares of the stock traded hands, compared to its average volume of 32,601. The company's 50-day simple moving average is $11.08 and its two-hundred day simple moving average is $10.24. The company has a market capitalization of $207.95 million, a P/E ratio of 11.23 and a beta of 1.98. Consumer Portfolio Services has a 52-week low of $7.03 and a 52-week high of $12.73. The company has a quick ratio of 19.16, a current ratio of 19.17 and a debt-to-equity ratio of 10.52.

Consumer Portfolio Services (NASDAQ:CPSS - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The credit services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.06). Consumer Portfolio Services had a return on equity of 7.59% and a net margin of 5.59%. The business had revenue of $105.30 million for the quarter, compared to analysts' expectations of $102.37 million. Equities research analysts forecast that Consumer Portfolio Services will post 0.85 EPS for the current year.

Insider Buying and Selling at Consumer Portfolio Services

In other news, Director William B. Roberts sold 15,000 shares of the business's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $10.45, for a total value of $156,750.00. Following the completion of the sale, the director now owns 700,078 shares of the company's stock, valued at approximately $7,315,815.10. The trade was a 2.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP April Crisp sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $11.15, for a total value of $27,875.00. Following the transaction, the vice president now owns 17,212 shares in the company, valued at approximately $191,913.80. The trade was a 12.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 69.00% of the company's stock.

Institutional Investors Weigh In On Consumer Portfolio Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CPSS. Empowered Funds LLC increased its position in shares of Consumer Portfolio Services by 5.3% in the third quarter. Empowered Funds LLC now owns 142,520 shares of the credit services provider's stock valued at $1,337,000 after acquiring an additional 7,236 shares during the period. Segall Bryant & Hamill LLC purchased a new position in Consumer Portfolio Services during the 3rd quarter valued at about $445,000. Fisher Asset Management LLC purchased a new position in Consumer Portfolio Services during the 3rd quarter valued at about $960,000. State Street Corp raised its position in Consumer Portfolio Services by 2.2% during the 3rd quarter. State Street Corp now owns 186,220 shares of the credit services provider's stock valued at $1,747,000 after purchasing an additional 3,922 shares during the last quarter. Finally, Barclays PLC lifted its holdings in Consumer Portfolio Services by 297.6% in the 3rd quarter. Barclays PLC now owns 11,794 shares of the credit services provider's stock worth $110,000 after buying an additional 8,828 shares during the period. 47.57% of the stock is currently owned by institutional investors.

Consumer Portfolio Services Company Profile

Consumer Portfolio Services, Inc operates as a specialty finance company in the United States. It is involved in the purchase and service of 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.