Consumer Portfolio Services (NASDAQ:CPSS) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded Consumer Portfolio Services from “buy” to “hold.” Weiss Ratings separately raised its rating from “sell (d+)” to “hold (c-),” leaving the stock with an overall “Hold” consensus.
• CPSS shares opened at $9.90, near their 12-month high of $10.49, with a market capitalization of approximately $216.9 million and a P/E ratio of 9.71. The company recently reported quarterly EPS of $0.30 on revenue of $61.39 million.
• Insiders sold 137,500 shares worth about $1.3 million over the past 90 days, while institutional investors own 47.57% of the stock. CEO Charles E. Bradley Jr. accounted for 125,000 of the shares sold.

Consumer Portfolio Services (NASDAQ:CPSS - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Sunday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded 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. According to MarketBeat.com, Consumer Portfolio Services presently has an average rating of "Hold".

Consumer Portfolio Services Stock Performance

Shares of CPSS opened at $9.90 on Friday. The company has a current ratio of 5.67, a quick ratio of 5.67 and a debt-to-equity ratio of 10.43. Consumer Portfolio Services has a 12 month low of $7.46 and a 12 month high of $10.49. The stock has a market capitalization of $216.91 million, a P/E ratio of 9.71 and a beta of 1.14. The firm's fifty day simple moving average is $9.28 and its two-hundred day simple moving average is $9.31.

Consumer Portfolio Services (NASDAQ:CPSS - Get Free Report) last issued its quarterly earnings data on Friday, October 23rd. The credit services provider reported $0.30 EPS for the quarter. The firm had revenue of $61.39 million during the quarter. Consumer Portfolio Services had a net margin of 4.99% and a return on equity of 7.54%.

Insider Activity at Consumer Portfolio Services

In other news, VP Noel Jackson sold 7,500 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $9.31, for a total value of $69,825.00. Following the completion of the transaction, the vice president owned 7,500 shares of the company's stock, valued at approximately $69,825. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles E. Bradley, Jr. sold 125,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $9.46, for a total value of $1,182,500.00. Following the completion of the transaction, the chief executive officer directly owned 4,099,545 shares of the company's stock, valued at $38,781,695.70. This represents a 2.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 137,500 shares of company stock worth $1,299,825 over the last 90 days. 63.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Consumer Portfolio Services

Several hedge funds have recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its holdings in shares of Consumer Portfolio Services by 3.4% during the first quarter. Janney Montgomery Scott LLC now owns 51,003 shares of the credit services provider's stock valued at $394,000 after purchasing an additional 1,672 shares during the last quarter. Bank of New York Mellon Corp increased its position in 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. Deutsche Bank AG bought a new position in Consumer Portfolio Services during the 2nd quarter valued at approximately $115,000. Empowered Funds LLC purchased a new position in Consumer Portfolio Services during the second quarter valued at $1,456,000. Finally, BlackRock Inc. purchased a new position in Consumer Portfolio Services during the second quarter valued at $6,297,000. 47.57% of the stock is currently owned by institutional investors.

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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