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

Key Points

• Consumer Portfolio Services reported quarterly EPS of $0.27 on revenue of $57.14 million, with a 6.54% return on equity and a 4.58% net margin.
• Shares fell $0.34 to $9.26 during Tuesday trading. The stock has traded between $6.67 and $10.49 over the past year and carries a consensus analyst rating of Hold.
• Insider ownership remains high at 63.70%, though Vice President Noel Jackson sold 7,000 shares. Institutional investors own 47.57% of the company, with several funds recently increasing their positions.

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

Consumer Portfolio Services Price Performance

CPSS traded down $0.34 during midday trading on Tuesday, reaching $9.26. 22,251 shares of the company's stock were exchanged, compared to its average volume of 21,900. The business has a 50-day simple moving average of $9.46 and a two-hundred day simple moving average of $8.88. The company has a quick ratio of 7.48, a current 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. Consumer Portfolio Services has a one year low of $6.67 and a one year high of $10.49.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Wall Street Zen raised Consumer Portfolio Services to a "hold" rating in a report on Saturday, July 18th. Weiss Ratings upgraded Consumer Portfolio Services from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Hold".

Insider Buying and Selling at Consumer Portfolio Services

In related news, VP Noel Jackson sold 7,000 shares of Consumer Portfolio Services stock in a transaction dated Tuesday, June 16th. The stock was 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 $67,410. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 63.70% of the company's stock.

Institutional Investors Weigh In On Consumer Portfolio Services

A number of hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in shares of Consumer Portfolio Services by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 221,565 shares of the credit services provider's stock worth $2,067,000 after acquiring an additional 3,604 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Consumer Portfolio Services by 3.8% during the first quarter. Empowered Funds LLC now owns 150,808 shares of the credit services provider's stock worth $1,308,000 after purchasing an additional 5,588 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of 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 valued at $912,000 after purchasing an additional 96,224 shares during the last quarter. Goldman Sachs Group Inc. grew its stake 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 valued at $275,000 after purchasing an additional 4,789 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new stake in shares of Consumer Portfolio Services in the third quarter valued at approximately $163,000. Institutional investors own 47.57% of the company's stock.

Consumer Portfolio Services Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source