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

Wall Street Zen upgraded shares of Consumer Portfolio Services (NASDAQ:CPSS - Free Report) from a hold rating to a buy rating in a report issued on Friday morning.

Consumer Portfolio Services Trading Up 1.7%

Shares of NASDAQ CPSS traded up $0.15 during midday trading on Friday, reaching $9.00. The company had a trading volume of 5,642 shares, compared to its average volume of 27,660. Consumer Portfolio Services has a one year low of $7.99 and a one year high of $12.73. The company has a quick ratio of 8.24, a current ratio of 8.24 and a debt-to-equity ratio of 9.83. The firm's fifty day moving average price is $9.52 and its 200-day moving average price is $9.77. The stock has a market cap of $194.04 million, a PE ratio of 11.39 and a beta of 0.95.

Consumer Portfolio Services (NASDAQ:CPSS - Get Free Report) last released its earnings results on Monday, May 12th. The credit services provider reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.11). Consumer Portfolio Services had a net margin of 4.72% and a return on equity of 6.68%. The company had revenue of $106.87 million during the quarter, compared to the consensus estimate of $109.99 million. On average, equities research analysts anticipate that Consumer Portfolio Services will post 0.85 earnings per share for the current year.

Insider Transactions at Consumer Portfolio Services

In related news, Director Greg Washer sold 9,648 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $9.88, for a total transaction of $95,322.24. Following the transaction, the director owned 308,958 shares in the company, valued at $3,052,505.04. The trade was a 3.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 25,789 shares of company stock worth $252,007. 69.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN boosted its position in shares of Consumer Portfolio Services by 25.2% in the 4th quarter. Wells Fargo & Company MN now owns 4,883 shares of the credit services provider's stock worth $53,000 after purchasing an additional 984 shares in the last quarter. Barclays PLC boosted its position in shares of Consumer Portfolio Services by 11.5% in the 4th quarter. Barclays PLC now owns 13,147 shares of the credit services provider's stock worth $143,000 after purchasing an additional 1,353 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Consumer Portfolio Services by 21.8% in the 4th quarter. Bank of America Corp DE now owns 13,335 shares of the credit services provider's stock worth $145,000 after purchasing an additional 2,383 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Consumer Portfolio Services by 67.3% in the 1st quarter. Voya Investment Management LLC now owns 24,958 shares of the credit services provider's stock worth $216,000 after purchasing an additional 10,037 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of 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 purchasing an additional 4,789 shares in the last quarter. Hedge funds and other institutional investors own 47.57% of the company's stock.

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.