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

Key Points

• Wall Street Zen upgraded Consumer Portfolio Services from “hold” to “buy,” while Weiss Ratings moved its rating from “sell” to “hold”; MarketBeat’s average rating remains “Hold.”
• The company reported quarterly earnings of $0.30 per share on revenue of $61.39 million, with a 7.48% return on equity and a 4.99% net margin.
• Company insiders sold 337,033 shares worth about $3.32 million over the last quarter; insiders still own 63.8% of the stock.

Consumer Portfolio Services (NASDAQ:CPSS - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings raised Consumer Portfolio Services from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, September 14th. One research analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the company currently has an average rating of "Hold".

Consumer Portfolio Services Trading Up 2.9%

Consumer Portfolio Services stock opened at $10.17 on Friday. The firm has a market capitalization of $222.21 million, a price-to-earnings ratio of 9.97 and a beta of 1.10. The company has a quick ratio of 5.67, a current ratio of 5.79 and a debt-to-equity ratio of 11.33. The firm has a 50-day moving average price of $9.40 and a two-hundred day moving average price of $9.05. Consumer Portfolio Services has a 52-week low of $7.46 and a 52-week high of $10.49.

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

Insiders Place Their Bets

In other Consumer Portfolio Services news, VP Noel Jackson sold 7,500 shares of the stock in a transaction dated 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 represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Catrina Marie Ralston sold 3,617 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $9.50, for a total value of $34,361.50. Following the transaction, the vice president owned 68,262 shares of the company's stock, valued at $648,489. This trade represents a 5.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 337,033 shares of company stock worth $3,323,388 over the last quarter. 63.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Consumer Portfolio Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CPSS. Russell Investments Group Ltd. raised its holdings 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 acquiring an additional 59,226 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Consumer Portfolio Services during the 2nd quarter worth about $1,456,000. BlackRock Inc. acquired a new position in shares of Consumer Portfolio Services in the 2nd quarter valued at $6,297,000. Deutsche Bank AG purchased a new stake in Consumer Portfolio Services during the second quarter valued at about $115,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Consumer Portfolio Services during the 2nd quarter worth about $221,000. 47.57% of the stock is owned by institutional investors and hedge funds.

About Consumer Portfolio Services

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.

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