Consumer Portfolio Services (NASDAQ:CPSS) Issues Quarterly Earnings Results

Key Points

• Consumer Portfolio Services reported quarterly earnings of $0.20 per share, missing the analyst estimates of $0.26 by $0.06.
• The company's stock price increased by $0.20 to reach $8.22 following the earnings announcement, with a market capitalization of $177.22 million.
• Wall Street Zen upgraded the stock from a "hold" rating to a "buy" rating on July 18, indicating a positive outlook for the company.

Consumer Portfolio Services (NASDAQ:CPSS - Get Free Report) posted its earnings results on Monday. The credit services provider reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.06), Zacks reports. Consumer Portfolio Services had a net margin of 4.60% and a return on equity of 6.59%. The company had revenue of $109.76 million for the quarter, compared to analysts' expectations of $109.63 million.

Consumer Portfolio Services Trading Down 4.0%

Shares of CPSS traded down $0.35 during trading hours on Thursday, hitting $8.39. The company had a trading volume of 8,974 shares, compared to its average volume of 13,793. The firm has a market cap of $186.43 million, a P/E ratio of 10.49 and a beta of 0.91. The stock's 50 day moving average price is $9.28 and its 200 day moving average price is $9.42. The company has a quick ratio of 8.24, a current ratio of 8.03 and a debt-to-equity ratio of 9.89. Consumer Portfolio Services has a 52-week low of $7.80 and a 52-week high of $12.73.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Consumer Portfolio Services from a "hold" rating to a "buy" rating in a report on Friday, July 18th.

Insider Buying and Selling at Consumer Portfolio Services

In other news, Director Greg Washer sold 3,000 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $10.10, for a total transaction of $30,300.00. Following the completion of the sale, the director directly owned 299,311 shares in the company, valued at approximately $3,023,041.10. This represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 19,535 shares of company stock worth $194,720 over the last ninety days. Corporate insiders own 69.00% of the company's stock.

Institutional Trading of Consumer Portfolio Services

A number of institutional investors have recently modified their holdings of CPSS. Geode Capital Management LLC lifted its position in Consumer Portfolio Services by 8.5% during 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 during the period. Empowered Funds LLC raised its position in Consumer Portfolio Services by 3.8% in the 1st quarter. Empowered Funds LLC now owns 150,808 shares of the credit services provider's stock worth $1,308,000 after buying an additional 5,588 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Consumer Portfolio Services by 17.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 31,752 shares of the credit services provider's stock worth $275,000 after buying an additional 4,789 shares during the last quarter. 47.57% of the stock is currently owned by hedge funds and other institutional investors.

About Consumer Portfolio Services

Consumer Portfolio Services, Inc operates as a specialty finance company in the United States. It is involved in the purchase and service of retail automobile contracts originated by franchised automobile dealers and select independent dealers in the sale of new and used automobiles, light trucks, and passenger vans.