Consumer Portfolio Services (NASDAQ:CPSS) Stock Rating Raised to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Consumer Portfolio Services (NASDAQ:CPSS) from a hold rating to a buy rating in a research report released on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings raised shares of Consumer Portfolio Services from a “sell (d+)” rating to a “hold (c-)” rating in a report 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 Up 2.9%

Shares of CPSS stock opened at $10.17 on Friday. The stock’s fifty day moving average price is $9.40 and its 200 day moving average price is $9.05. Consumer Portfolio Services has a 1-year low of $7.46 and a 1-year high of $10.49. The company has a market cap of $222.21 million, a price-to-earnings ratio of 9.97 and a beta of 1.10. The company has a debt-to-equity ratio of 11.33, a current ratio of 5.79 and a quick ratio of 5.67.

Consumer Portfolio Services (NASDAQ:CPSS) last released its quarterly earnings results on Friday, October 23rd. The credit services provider reported $0.30 EPS for the quarter. The company had revenue of $61.39 million during the quarter. Consumer Portfolio Services had a return on equity of 7.48% and a net margin of 4.99%.

Insider Activity

In related news, VP Noel Jackson sold 7,500 shares of the firm’s 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 document filed with the SEC, which is available at this hyperlink. Also, VP Catrina Marie Ralston sold 3,617 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $9.50, for a total transaction of $34,361.50. Following the transaction, the vice president owned 68,262 shares of the company’s stock, valued at $648,489. This represents a 5.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 337,033 shares of company stock valued at $3,323,388 in the last ninety days. Insiders own 63.80% of the company’s stock.

Institutional Investors Weigh In On Consumer Portfolio Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 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 purchased a new stake in shares of Consumer Portfolio Services in the second quarter worth about $1,456,000. Russell Investments Group Ltd. boosted its stake in shares of Consumer Portfolio Services by 398.7% in the third quarter. Russell Investments Group Ltd. now owns 74,080 shares of the credit services provider’s stock worth $679,000 after buying an additional 59,226 shares during the last quarter. Deutsche Bank AG purchased a new stake in shares of Consumer Portfolio Services in the second quarter worth about $115,000. Finally, Bank of New York Mellon Corp acquired a new stake in Consumer Portfolio Services during the second quarter worth about $221,000. 47.57% of the stock is owned by institutional investors and hedge funds.

Consumer Portfolio Services Company Profile

Consumer Portfolio Services, Inc (NASDAQ: CPSS) is a specialty finance company that provides indirect automobile financing to consumers, primarily those with limited or impaired credit histories. The company works with franchised and independent automobile dealers to arrange financing for purchasers of new and used vehicles.

Consumer Portfolio Services typically purchases retail installment sales contracts originated by its dealer partners and then services the related automotive loans.