Consumer Portfolio Services, Inc. (CPSS) Cut to Sell at Zacks Investment Research
Consumer Portfolio Services, Inc. (NASDAQ:CPSS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
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, Jefferies Group LLC restated a “buy” rating and issued a $6.00 target price on shares of Consumer Portfolio Services in a research note on Thursday, September 7th.
Consumer Portfolio Services (NASDAQ CPSS) traded down 1.08% during trading on Wednesday, hitting $4.58. The stock had a trading volume of 40,070 shares. Consumer Portfolio Services has a 1-year low of $3.66 and a 1-year high of $6.05. The firm’s 50 day moving average is $4.33 and its 200 day moving average is $4.41. The firm has a market cap of $104.11 million, a price-to-earnings ratio of 5.44 and a beta of 1.63.
Consumer Portfolio Services (NASDAQ:CPSS) last issued its earnings results on Monday, July 24th. The credit services provider reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Consumer Portfolio Services had a net margin of 5.49% and a return on equity of 12.76%. The firm had revenue of $110.07 million during the quarter, compared to analysts’ expectations of $110.31 million. On average, analysts anticipate 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 stock repurchase program on Monday, July 24th that allows the company to buyback $10.00 million in shares. This buyback authorization allows the credit services provider to reacquire up to 9.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
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In related news, major shareholder Second Curve Capital Llc sold 15,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $3.97, for a total transaction of $59,550.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 35,000 shares of company stock valued at $138,750 in the last three months. 37.50% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of CPSS. Oxford Asset Management acquired a new position in Consumer Portfolio Services in the 1st quarter valued at approximately $230,000. UBS Group AG raised its holdings 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 acquiring an additional 22,987 shares in the last quarter. Morgan Stanley raised its holdings in Consumer Portfolio Services by 12.5% in the 1st quarter. Morgan Stanley now owns 309,162 shares of the credit services provider’s stock valued at $1,456,000 after acquiring an additional 34,327 shares in the last quarter. Continental Advisors LLC raised its holdings in Consumer Portfolio Services by 1.0% in the 1st quarter. Continental Advisors LLC now owns 1,036,309 shares of the credit services provider’s stock valued at $4,881,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Consumer Portfolio Services by 0.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 70,127 shares of the credit services provider’s stock valued at $330,000 after acquiring an additional 397 shares in the last quarter. 46.74% of the stock is owned by hedge funds and other institutional investors.
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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