Consumer Portfolio Services (NASDAQ:CPSS) Releases Earnings Results

Consumer Portfolio Services (NASDAQ:CPSS) issued its quarterly earnings results on Tuesday. The credit services provider reported $0.27 EPS for the quarter, Zacks reports. Consumer Portfolio Services had a return on equity of 6.54% and a net margin of 4.58%.The business had revenue of $57.14 million for the quarter.

Consumer Portfolio Services Stock Performance

Shares of NASDAQ CPSS traded down $0.34 during midday trading on Tuesday, hitting $9.26. The company’s stock had a trading volume of 22,251 shares, compared to its average volume of 21,900. The stock has a fifty day moving average price of $9.46 and a 200 day moving average price of $8.88. Consumer Portfolio Services has a one year low of $6.67 and a one year high of $10.49. The company has a current ratio of 7.48, a quick ratio of 7.48 and a debt-to-equity ratio of 10.18. The firm has a market capitalization of $200.95 million, a price-to-earnings ratio of 10.90 and a beta of 1.13.

Insider Buying and Selling

In related news, VP Noel Jackson sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $9.63, for a total value of $67,410.00. Following the completion of the transaction, the vice president directly owned 7,000 shares of the company’s stock, valued at approximately $67,410. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 63.70% of the company’s stock.

Institutional Investors Weigh In On Consumer Portfolio Services

Several institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. grew its position in Consumer Portfolio Services by 6,347.2% during the fourth quarter. Russell Investments Group Ltd. now owns 97,740 shares of the credit services provider’s stock worth $912,000 after buying an additional 96,224 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Consumer Portfolio Services in the 3rd quarter valued at about $163,000. Geode Capital Management LLC raised its holdings in shares of Consumer Portfolio Services by 8.5% in the 2nd quarter. Geode Capital Management LLC now owns 212,555 shares of the credit services provider’s stock valued at $2,090,000 after acquiring an additional 16,563 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Consumer Portfolio Services by 3.8% during the 1st quarter. Empowered Funds LLC now owns 150,808 shares of the credit services provider’s stock valued at $1,308,000 after acquiring an additional 5,588 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Consumer Portfolio Services by 17.8% during the first quarter. Goldman Sachs Group Inc. now owns 31,752 shares of the credit services provider’s stock worth $275,000 after purchasing an additional 4,789 shares in the last quarter. Hedge funds and other institutional investors own 47.57% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CPSS. Weiss Ratings raised Consumer Portfolio Services from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, July 1st. Wall Street Zen upgraded shares of Consumer Portfolio Services to a “hold” rating in a report on Saturday, July 18th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Consumer Portfolio Services has a consensus rating of “Hold”.

About Consumer Portfolio Services

Consumer Portfolio Services, Inc is a specialty finance company focused on originating and servicing retail installment contracts for the automotive industry. The company primarily serves subprime and near-prime borrowers by partnering with a network of franchised and independent auto dealers across the United States. By providing flexible financing solutions, CPS seeks to expand vehicle ownership opportunities for customers who may not qualify for traditional prime auto loans.

CPS operates through two principal segments: loan origination and servicing.