Jefferies Group LLC Reiterates “Buy” Rating for Consumer Portfolio Services, Inc. (CPSS)
Consumer Portfolio Services, Inc. (NASDAQ:CPSS)‘s stock had its “buy” rating reiterated by Jefferies Group LLC in a research report issued to clients and investors on Thursday. They currently have a $6.00 price target on the credit services provider’s stock. Jefferies Group LLC’s target price suggests a potential upside of 44.58% from the stock’s current price.
Separately, Zacks Investment Research upgraded shares of Consumer Portfolio Services from a “sell” rating to a “hold” rating in a research note on Friday, August 18th.
Shares of Consumer Portfolio Services (NASDAQ CPSS) traded down 0.72% during midday trading on Thursday, hitting $4.15. The stock had a trading volume of 67,406 shares. The stock’s 50-day moving average price is $4.02 and its 200 day moving average price is $4.50. Consumer Portfolio Services has a 52 week low of $3.66 and a 52 week high of $6.05. The company has a market cap of $94.34 million, a price-to-earnings ratio of 4.93 and a beta of 1.63.
Consumer Portfolio Services (NASDAQ:CPSS) last issued its quarterly earnings results on Monday, July 24th. The credit services provider reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.01. Consumer Portfolio Services had a return on equity of 12.76% and a net margin of 5.49%. The company had revenue of $110.07 million for the quarter, compared to analysts’ expectations of $110.31 million. On average, equities analysts forecast that Consumer Portfolio Services will post $0.69 earnings per share for the current year.
Consumer Portfolio Services declared that its board has authorized a share repurchase plan on Monday, July 24th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the credit services provider to purchase up to 9.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
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In related news, major shareholder Second Curve Capital Llc sold 15,000 shares of Consumer Portfolio Services stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $3.97, for a total value of $59,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 35,000 shares of company stock valued at $138,750 over the last quarter. 37.50% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG grew its stake in Consumer Portfolio Services by 1,213.0% in the 1st quarter. UBS Group AG now owns 24,882 shares of the credit services provider’s stock valued at $117,000 after buying an additional 22,987 shares in the last quarter. Algert Global LLC grew its stake in Consumer Portfolio Services by 12.1% in the 1st quarter. Algert Global LLC now owns 31,928 shares of the credit services provider’s stock valued at $150,000 after buying an additional 3,450 shares in the last quarter. Hancock Holding Co. grew its stake in Consumer Portfolio Services by 23.4% in the 1st quarter. Hancock Holding Co. now owns 37,570 shares of the credit services provider’s stock valued at $177,000 after buying an additional 7,120 shares in the last quarter. Oxford Asset Management purchased a new position in Consumer Portfolio Services in the 1st quarter valued at approximately $230,000. Finally, Spark Investment Management LLC grew its stake in Consumer Portfolio Services by 53.2% in the 2nd quarter. Spark Investment Management LLC now owns 61,600 shares of the credit services provider’s stock valued at $280,000 after buying an additional 21,400 shares in the last quarter. Institutional investors and hedge funds own 46.74% of the company’s stock.
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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