Consumer Portfolio Services (NASDAQ:CPSS) Share Price Passes Above 200-Day Moving Average - Here's Why

Consumer Portfolio Services, Inc. (NASDAQ:CPSS - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.89 and traded as high as $10.00. Consumer Portfolio Services shares last traded at $9.88, with a volume of 16,216 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Consumer Portfolio Services from a "strong-buy" rating to a "buy" rating in a research note on Monday, May 19th.

Consumer Portfolio Services Stock Performance

The company has a 50-day moving average of $9.19 and a 200-day moving average of $9.89. The company has a market cap of $214.09 million, a PE ratio of 12.57 and a beta of 0.95. The company has a quick ratio of 8.24, a current ratio of 8.24 and a debt-to-equity ratio of 9.83.

Consumer Portfolio Services (NASDAQ:CPSS - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The credit services provider reported $0.19 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $109.99 million. As a group, analysts anticipate that Consumer Portfolio Services, Inc. will post 0.85 earnings per share for the current year.

Insider Activity at Consumer Portfolio Services

In related news, Director Greg Washer sold 3,000 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $10.10, for a total transaction of $30,300.00. Following the completion of the sale, the director now directly owns 299,311 shares of the company's stock, valued at approximately $3,023,041.10. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 25,789 shares of company stock valued at $252,007 over the last ninety days. Corporate insiders own 69.00% of the company's stock.

Institutional Investors Weigh In On Consumer Portfolio Services

Several large investors have recently made changes to their positions in CPSS. Voya Investment Management LLC raised its position in Consumer Portfolio Services by 67.3% in the first quarter. Voya Investment Management LLC now owns 24,958 shares of the credit services provider's stock worth $216,000 after acquiring an additional 10,037 shares during the period. Empowered Funds LLC increased its stake in shares of Consumer Portfolio Services by 3.8% during the 1st 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 during the last quarter. Goldman Sachs Group Inc. raised its holdings 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 during the period. Bank of America Corp DE raised its holdings 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 during the period. Finally, Northern Trust Corp lifted its stake in Consumer Portfolio Services by 7.4% in the fourth quarter. Northern Trust Corp now owns 85,755 shares of the credit services provider's stock valued at $931,000 after purchasing an additional 5,882 shares during the last quarter. 47.57% of the stock is 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.