Consumer Portfolio Services (NASDAQ:CPSS) Raised to Buy at Wall Street Zen

Consumer Portfolio Services (NASDAQ:CPSS) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday, Wall Street Zen reports.

Separately, Weiss Ratings raised Consumer Portfolio Services from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, September 14th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Consumer Portfolio Services Stock Down 6.2%

Shares of CPSS opened at $8.97 on Friday. The company has a debt-to-equity ratio of 10.43, a quick ratio of 5.67 and a current ratio of 5.67. Consumer Portfolio Services has a 52 week low of $7.30 and a 52 week high of $10.49. The stock has a market capitalization of $193.39 million, a price-to-earnings ratio of 9.75 and a beta of 1.11. The stock has a fifty day moving average of $9.36 and a 200-day moving average of $9.13.

Consumer Portfolio Services (NASDAQ:CPSS) last issued its quarterly earnings data on Tuesday, August 4th. The credit services provider reported $0.27 earnings per share for the quarter. Consumer Portfolio Services had a return on equity of 6.91% and a net margin of 4.78%.The business had revenue of $57.14 million for the quarter.

Insider Transactions at Consumer Portfolio Services

In related news, VP Noel Jackson sold 7,500 shares of Consumer Portfolio Services stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $9.31, for a total transaction of $69,825.00. Following the completion of the transaction, the vice president owned 7,500 shares of the company’s stock, valued at $69,825. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Bradley, Jr. sold 125,000 shares of Consumer Portfolio Services stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $9.46, for a total transaction of $1,182,500.00. Following the transaction, the chief executive officer directly owned 4,099,545 shares of the company’s stock, valued at $38,781,695.70. This represents a 2.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 137,500 shares of company stock worth $1,299,825 over the last three months. 63.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CPSS. BlackRock Inc. acquired a new position in shares of Consumer Portfolio Services in the 2nd quarter valued at about $6,297,000. Empowered Funds LLC acquired a new stake in Consumer Portfolio Services during the second quarter worth approximately $1,456,000. Janney Montgomery Scott LLC grew its stake in Consumer Portfolio Services by 3.4% during the first quarter. Janney Montgomery Scott LLC now owns 51,003 shares of the credit services provider’s stock worth $394,000 after purchasing an additional 1,672 shares during the period. Bank of New York Mellon Corp bought a new stake in Consumer Portfolio Services in the second quarter worth approximately $221,000. Finally, Deutsche Bank AG bought a new stake in Consumer Portfolio Services in the second quarter worth approximately $115,000. 47.57% of the stock is owned by institutional investors.

Consumer Portfolio Services Company Profile

Consumer Portfolio Services, Inc (NASDAQ: CPSS) is a specialty finance company focused on automobile lending. The company provides financing to consumers who may have limited or impaired credit histories and primarily supports the purchase of used vehicles.

Consumer Portfolio Services generally originates business through an indirect lending model. It purchases and services retail installment sales contracts generated by franchised and independent automobile dealers, allowing dealers to offer financing to customers while transferring the contracts to the company.