Consumer Portfolio Services (NASDAQ:CPSS) Cut to “Buy” at StockNews.com

Consumer Portfolio Services (NASDAQ:CPSS) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday.

Consumer Portfolio Services Trading Up 3.1 %

NASDAQ:CPSS opened at $10.98 on Thursday. Consumer Portfolio Services has a 12 month low of $7.03 and a 12 month high of $12.04. The company has a current ratio of 19.17, a quick ratio of 19.16 and a debt-to-equity ratio of 10.52. The company has a 50-day moving average price of $10.56 and a 200-day moving average price of $9.76. The stock has a market cap of $235.03 million, a price-to-earnings ratio of 12.62 and a beta of 1.98.

Consumer Portfolio Services (NASDAQ:CPSS) last issued its quarterly earnings data on Thursday, October 31st. The credit services provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.01). Consumer Portfolio Services had a return on equity of 7.59% and a net margin of 5.59%. The company had revenue of $100.58 million during the quarter, compared to analysts’ expectations of $98.34 million. Equities analysts predict that Consumer Portfolio Services will post 0.85 EPS for the current year.

Insider Transactions at Consumer Portfolio Services

In other news, Director William B. Roberts sold 50,000 shares of Consumer Portfolio Services stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $10.76, for a total value of $538,000.00. Following the completion of the transaction, the director now owns 850,078 shares of the company’s stock, valued at $9,146,839.28. The trade was a 5.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP April Crisp sold 2,500 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $11.15, for a total transaction of $27,875.00. Following the sale, the vice president now directly owns 17,212 shares in the company, valued at $191,913.80. This trade represents a 12.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 139,756 shares of company stock valued at $1,482,459 in the last three months. 69.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CPSS. Segall Bryant & Hamill LLC bought a new stake in shares of Consumer Portfolio Services during the third quarter valued at approximately $445,000. State Street Corp increased its holdings in shares of Consumer Portfolio Services by 2.2% in the 3rd quarter. State Street Corp now owns 186,220 shares of the credit services provider’s stock worth $1,747,000 after purchasing an additional 3,922 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Consumer Portfolio Services by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 99,481 shares of the credit services provider’s stock worth $975,000 after purchasing an additional 1,343 shares during the last quarter. Fisher Asset Management LLC bought a new position in shares of Consumer Portfolio Services during the third quarter valued at $960,000. Finally, Empowered Funds LLC lifted its holdings in shares of Consumer Portfolio Services by 5.3% during the third quarter. Empowered Funds LLC now owns 142,520 shares of the credit services provider’s stock valued at $1,337,000 after purchasing an additional 7,236 shares in the last quarter. Institutional investors own 47.57% of the company’s stock.

About Consumer Portfolio Services

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.