Favorable Media Coverage Somewhat Unlikely to Affect Consumer Portfolio Services (CPSS) Share Price
News articles about Consumer Portfolio Services (NASDAQ:CPSS) have trended positive this week, according to Accern Sentiment. Accern rates the sentiment of press coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Consumer Portfolio Services earned a news sentiment score of 0.25 on Accern’s scale. Accern also gave news headlines about the credit services provider an impact score of 44.8398029019314 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Consumer Portfolio Services (NASDAQ:CPSS) last posted its quarterly earnings data on Monday, July 24th. The credit services provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $110.07 million during the quarter, compared to analyst estimates of $110.31 million. Consumer Portfolio Services had a net margin of 5.49% and a return on equity of 12.76%.
Consumer Portfolio Services announced that its board has authorized a stock repurchase plan on Monday, July 24th that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the credit services provider to reacquire up to 9.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
Several equities analysts recently commented on CPSS shares. Zacks Investment Research downgraded shares of Consumer Portfolio Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 26th. Jefferies Group LLC restated a “buy” rating and issued a $6.00 price target on shares of Consumer Portfolio Services in a research note on Thursday, September 7th.
In other Consumer Portfolio Services news, major shareholder Second Curve Capital Llc sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were 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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 35,000 shares of company stock valued at $138,750 in the last 90 days. Corporate insiders own 37.50% of the company’s stock.
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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