Consumer Portfolio Services (NASDAQ:CPSS) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Consumer Portfolio Services (NASDAQ:CPSS) from a buy rating to a hold rating in a report issued on Sunday morning,Wall Street Zen reports.

Separately, Weiss Ratings upgraded shares of Consumer Portfolio Services from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, September 14th. One equities research analyst has rated the stock with a Hold rating. According to MarketBeat.com, Consumer Portfolio Services currently has an average rating of “Hold”.

Consumer Portfolio Services Trading Up 2.7%

Consumer Portfolio Services stock opened at $9.55 on Friday. Consumer Portfolio Services has a one year low of $7.46 and a one year high of $10.49. The stock has a fifty day moving average of $9.29 and a 200 day moving average of $9.01.

Consumer Portfolio Services (NASDAQ:CPSS) last announced its earnings results on Friday, October 23rd. The credit services provider reported $0.30 earnings per share (EPS) for the quarter. The firm had revenue of $61.39 million during the quarter.

Insider Activity

In other news, CEO Charles Bradley, Jr. sold 125,000 shares of Consumer Portfolio Services stock in a transaction dated 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. The trade was a 2.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Noel Jackson sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $9.31, for a total value of $69,825.00. Following the transaction, the vice president owned 7,500 shares of the company’s stock, valued at approximately $69,825. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 137,500 shares of company stock valued at $1,299,825 in the last ninety days. Corporate insiders own 63.80% of the company’s stock.

Hedge Funds Weigh In On Consumer Portfolio Services

A number of hedge funds have recently modified their holdings of CPSS. Deutsche Bank AG purchased a new stake in shares of Consumer Portfolio Services in the second quarter worth $115,000. Bank of New York Mellon Corp lifted its stake in shares of Consumer Portfolio Services by 9.6% during the 1st quarter. Bank of New York Mellon Corp now owns 23,022 shares of the credit services provider’s stock valued at $178,000 after buying an additional 2,026 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Consumer Portfolio Services by 3.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 51,003 shares of the credit services provider’s stock worth $394,000 after buying an additional 1,672 shares during the period. Empowered Funds LLC bought a new position in Consumer Portfolio Services in the 2nd quarter worth $1,456,000. Finally, BlackRock Inc. bought a new position in Consumer Portfolio Services in the 2nd quarter worth $6,297,000. 47.57% of the stock is currently owned by institutional investors.

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.