Consumer Portfolio Services, Inc. (NASDAQ:CPSS) Shares Sold by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH reduced its stake in Consumer Portfolio Services by 52.1%, owning 0.75% valued at approximately $1.39 million after selling over 173,000 shares in the first quarter.
• Consumer Portfolio Services' shares are currently down 4.8%, with a market cap of $170.32 million, and it has reported earnings per share of $0.19, missing the consensus estimate.
• Wall Street Zen upgraded Consumer Portfolio Services from a "hold" rating to a "buy" rating, indicating a potential positive outlook for investors.

Allianz Asset Management GmbH reduced its stake in shares of Consumer Portfolio Services, Inc. (NASDAQ:CPSS - Free Report) by 52.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 160,043 shares of the credit services provider's stock after selling 173,834 shares during the quarter. Allianz Asset Management GmbH owned 0.75% of Consumer Portfolio Services worth $1,388,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CPSS. Wells Fargo & Company MN boosted its stake in shares of Consumer Portfolio Services by 25.2% in the fourth quarter. Wells Fargo & Company MN now owns 4,883 shares of the credit services provider's stock worth $53,000 after acquiring an additional 984 shares during the last quarter. Barclays PLC raised its holdings 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 valued at $143,000 after buying an additional 1,353 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 valued at $145,000 after buying an additional 2,383 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Consumer Portfolio Services by 620.5% in the 4th quarter. JPMorgan Chase & Co. now owns 29,173 shares of the credit services provider's stock valued at $317,000 after buying an additional 25,124 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Consumer Portfolio Services by 7.4% in the 4th quarter. Northern Trust Corp now owns 85,755 shares of the credit services provider's stock valued at $931,000 after buying an additional 5,882 shares during the period. 47.57% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Consumer Portfolio Services

In other news, Director Greg Washer sold 9,648 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $9.88, for a total value of $95,322.24. Following the transaction, the director owned 308,958 shares in the company, valued at approximately $3,052,505.04. This represents a 3.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 25,789 shares of company stock valued at $252,007. Corporate insiders own 69.00% of the company's stock.

Wall Street Analyst Weigh In

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

Consumer Portfolio Services Stock Down 1.1%

NASDAQ CPSS traded down $0.09 during trading hours on Monday, hitting $7.94. 3,301 shares of the company were exchanged, compared to its average volume of 20,084. The company has a 50 day moving average of $9.44 and a two-hundred day moving average of $9.60. 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, Inc. has a 52-week low of $7.80 and a 52-week high of $12.73. The firm has a market cap of $171.08 million, a price-to-earnings ratio of 10.04 and a beta of 0.91.

Consumer Portfolio Services (NASDAQ:CPSS - Get Free Report) last issued its quarterly earnings results 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 return on equity of 6.68% and a net margin of 4.72%. The company had revenue of $106.87 million for the quarter, compared to analysts' expectations of $109.99 million. Equities research analysts anticipate that Consumer Portfolio Services, Inc. will post 0.85 earnings per share for the current year.

Consumer Portfolio Services Profile

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.