Consumer Portfolio Services (NASDAQ:CPSS) Cut to “Buy” at StockNews.com

StockNews.com cut shares of Consumer Portfolio Services (NASDAQ:CPSS) from a strong-buy rating to a buy rating in a research note released on Wednesday morning.

Consumer Portfolio Services Price Performance

Shares of Consumer Portfolio Services stock opened at $10.52 on Wednesday. The company has a current ratio of 19.17, a quick ratio of 19.16 and a debt-to-equity ratio of 10.52. The stock has a market capitalization of $225.23 million, a price-to-earnings ratio of 12.09 and a beta of 1.98. Consumer Portfolio Services has a 1-year low of $7.03 and a 1-year high of $12.73. The firm’s 50-day moving average price is $11.15 and its two-hundred day moving average price is $10.16.

Insiders Place Their Bets

In other news, Director William B. Roberts sold 10,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $10.33, for a total transaction of $103,300.00. Following the sale, the director now directly owns 724,803 shares of the company’s stock, valued at $7,487,214.99. This represents a 1.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP April Crisp sold 2,500 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $11.15, for a total transaction of $27,875.00. Following the sale, the vice president now directly owns 17,212 shares in the company, valued at $191,913.80. This trade represents a 12.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,775 shares of company stock valued at $397,149. 69.00% of the stock is currently owned by insiders.

Institutional Trading of Consumer Portfolio Services

Several hedge funds have recently modified their holdings of CPSS. Wells Fargo & Company MN grew its stake in shares of Consumer Portfolio Services by 25.2% during the fourth quarter. Wells Fargo & Company MN now owns 4,883 shares of the credit services provider’s stock valued at $53,000 after purchasing an additional 984 shares during the last quarter. Barclays PLC grew its stake in shares of Consumer Portfolio Services by 297.6% during the third quarter. Barclays PLC now owns 11,794 shares of the credit services provider’s stock valued at $110,000 after purchasing an additional 8,828 shares during the last quarter. Bank of America Corp DE boosted its stake in Consumer Portfolio Services by 21.8% in the fourth quarter. Bank of America Corp DE now owns 13,335 shares of the credit services provider’s stock valued at $145,000 after acquiring an additional 2,383 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Consumer Portfolio Services by 620.5% in the fourth quarter. JPMorgan Chase & Co. now owns 29,173 shares of the credit services provider’s stock valued at $317,000 after acquiring an additional 25,124 shares during the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in Consumer Portfolio Services in the third quarter valued at approximately $445,000. 47.57% of the stock is owned by institutional investors.

Consumer Portfolio Services Company 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.