Consumer Portfolio Services (NASDAQ:CPSS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm currently has a $4.75 target price on the credit services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 3.94% from the stock’s previous close.
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 report on Tuesday, October 31st.
Consumer Portfolio Services (NASDAQ:CPSS) last announced its quarterly earnings data on Monday, October 23rd. The credit services provider reported $0.17 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.17. Consumer Portfolio Services had a net margin of 4.87% and a return on equity of 11.09%. The company had revenue of $109.49 million for the quarter, compared to the consensus estimate of $112.39 million. research analysts expect that Consumer Portfolio Services will post 0.66 earnings per share for the current fiscal year.
In other Consumer Portfolio Services news, major shareholder Second Curve Capital Llc sold 150,000 shares of the stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $4.21, for a total value of $631,500.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Curtis K. Powell sold 6,900 shares of the stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $4.36, for a total transaction of $30,084.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 235,100 shares of company stock worth $989,660. Insiders own 37.50% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. acquired a new position in shares of Consumer Portfolio Services in the 3rd quarter valued at $114,000. Cornerstone Investment Partners LLC boosted its holdings in shares of Consumer Portfolio Services by 100.0% in the 4th quarter. Cornerstone Investment Partners LLC now owns 40,000 shares of the credit services provider’s stock valued at $166,000 after buying an additional 20,000 shares in the last quarter. Hancock Holding Co. boosted its holdings in shares of Consumer Portfolio Services by 17.6% in the 2nd quarter. Hancock Holding Co. now owns 44,185 shares of the credit services provider’s stock valued at $201,000 after buying an additional 6,615 shares in the last quarter. Numeric Investors LLC boosted its holdings in shares of Consumer Portfolio Services by 0.5% in the 2nd quarter. Numeric Investors LLC now owns 244,034 shares of the credit services provider’s stock valued at $1,110,000 after buying an additional 1,329 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Consumer Portfolio Services by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 760,620 shares of the credit services provider’s stock valued at $3,461,000 after buying an additional 6,530 shares in the last quarter. Institutional investors and hedge funds own 48.35% of the company’s stock.
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Consumer Portfolio Services Company Profile
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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