Consumer Portfolio Services (NASDAQ:CPSS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage currently has a $4.75 price target on the credit services provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 18.45% from the stock’s current price.
According to Zacks, “CONSUMER PORTFOLIO SERVICES is a consumer finance company that specializes in purchasing, selling, and servicing contracts with purchases of vechicles who are sub prime borrowers and are unable to obtain credit from traditional sources. “
Separately, TheStreet downgraded shares of Consumer Portfolio Services from a “c” rating to a “d” rating in a research note on Tuesday, October 31st.
Consumer Portfolio Services (NASDAQ CPSS) opened at $4.01 on Tuesday. The stock has a market capitalization of $89.93, a price-to-earnings ratio of 100.28 and a beta of 1.73. The company has a debt-to-equity ratio of 10.89, a quick ratio of 17.19 and a current ratio of 17.19. Consumer Portfolio Services has a one year low of $3.66 and a one year high of $5.69.
Consumer Portfolio Services (NASDAQ:CPSS) last released its quarterly earnings results on Wednesday, February 14th. The credit services provider reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.03. The business had revenue of $107.23 million during the quarter, compared to the consensus estimate of $110.31 million. Consumer Portfolio Services had a return on equity of 9.77% and a net margin of 0.87%. research analysts forecast that Consumer Portfolio Services will post 0.8 earnings per share for the current fiscal year.
In related news, major shareholder Second Curve Capital Llc sold 8,000 shares of the business’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $4.10, for a total value of $32,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel S. Wood sold 10,000 shares of the business’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $4.32, for a total transaction of $43,200.00. Following the completion of the transaction, the director now directly owns 167,565 shares of the company’s stock, valued at approximately $723,880.80. The disclosure for this sale can be found here. Insiders sold a total of 264,900 shares of company stock valued at $1,109,284 in the last three months. 37.50% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Consumer Portfolio Services by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 760,620 shares of the credit services provider’s stock valued at $3,461,000 after acquiring an additional 6,530 shares during the last quarter. Macquarie Group Ltd. acquired a new position in shares of Consumer Portfolio Services during the 3rd quarter valued at about $114,000. Continental Advisors LLC increased its stake in shares of Consumer Portfolio Services by 21.2% during the 3rd quarter. Continental Advisors LLC now owns 1,326,211 shares of the credit services provider’s stock valued at $6,048,000 after acquiring an additional 232,055 shares during the last quarter. Cornerstone Investment Partners LLC increased its stake in shares of Consumer Portfolio Services by 100.0% during the 4th quarter. Cornerstone Investment Partners LLC now owns 40,000 shares of the credit services provider’s stock valued at $166,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Consumer Portfolio Services by 433.8% during the 4th quarter. Wells Fargo & Company MN now owns 36,333 shares of the credit services provider’s stock valued at $151,000 after acquiring an additional 29,526 shares during the last quarter. 47.54% of the stock is owned by hedge funds and other institutional investors.
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About Consumer Portfolio Services
Consumer Portfolio Services, Inc is a specialty finance company. The Company’s business is to purchase and service retail automobile contracts originated primarily by franchised automobile dealers and by select independent dealers in the United States in the sale of new and used automobiles, light trucks and passenger vans.
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