Consumer Portfolio Services, Inc. (CPSS) Position Held by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP held its stake in Consumer Portfolio Services, Inc. (NASDAQ:CPSS) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,081,297 shares of the credit services provider’s stock at the end of the first quarter. Dimensional Fund Advisors LP owned 8.85% of Consumer Portfolio Services worth $9,803,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of CPSS. Algert Global LLC increased its stake in Consumer Portfolio Services by 12.1% in the first quarter. Algert Global LLC now owns 31,928 shares of the credit services provider’s stock valued at $150,000 after buying an additional 3,450 shares during the last quarter. Oxford Asset Management bought a new stake in Consumer Portfolio Services during the first quarter valued at $230,000. Finally, Hancock Holding Co. increased its stake in Consumer Portfolio Services by 23.4% in the first quarter. Hancock Holding Co. now owns 37,570 shares of the credit services provider’s stock valued at $177,000 after buying an additional 7,120 shares during the last quarter. 48.13% of the stock is owned by institutional investors and hedge funds.
Shares of Consumer Portfolio Services, Inc. (NASDAQ CPSS) traded down 1.00% during midday trading on Monday, reaching $3.96. 4,851 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $4.28 and its 200 day moving average price is $4.60. The firm has a market capitalization of $90.02 million, a P/E ratio of 4.70 and a beta of 1.70. Consumer Portfolio Services, Inc. has a 52-week low of $3.72 and a 52-week high of $6.05.
Consumer Portfolio Services (NASDAQ:CPSS) last posted its quarterly earnings results on Monday, July 24th. The credit services provider reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by $0.01. The firm had revenue of $110.07 million during the quarter, compared to the consensus estimate of $110.31 million. Consumer Portfolio Services had a net margin of 5.49% and a return on equity of 12.76%. On average, equities research analysts anticipate that Consumer Portfolio Services, Inc. will post $0.69 EPS for the current fiscal year.
Consumer Portfolio Services declared that its Board of Directors has initiated a share buyback program on Monday, July 24th that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the credit services provider to buy up to 9.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
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Separately, Zacks Investment Research downgraded shares of Consumer Portfolio Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 26th.
In related news, major shareholder Second Curve Capital Llc sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $3.97, for a total value of $59,550.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 50,000 shares of company stock worth $206,150. 37.50% of the stock is owned by company insiders.
About Consumer Portfolio Services
Consumer Portfolio Services, Inc is a specialty finance company. The Company’s business is to purchase and service retail automobile contracts originated primarily by franchised automobile dealers and by select independent dealers in the United States in the sale of new and used automobiles, light trucks and passenger vans.
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