Consumer Portfolio Services (NASDAQ:CPSS) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Consumer Portfolio Services, Inc. (NASDAQ:CPSS) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.36 and traded as high as $8.53. Consumer Portfolio Services shares last traded at $8.48, with a volume of 18,703 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Consumer Portfolio Services in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Consumer Portfolio Services Stock Performance

The company has a quick ratio of 9.81, a current ratio of 9.81 and a debt-to-equity ratio of 10.20. The company has a market cap of $188.22 million, a PE ratio of 10.81 and a beta of 1.08. The stock’s 50 day simple moving average is $8.10 and its two-hundred day simple moving average is $8.37.

Consumer Portfolio Services (NASDAQ:CPSS) last posted its quarterly earnings results on Tuesday, March 10th. The credit services provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The company had revenue of $50.11 million for the quarter, compared to analysts’ expectations of $110.64 million. Consumer Portfolio Services had a return on equity of 6.34% and a net margin of 4.45%. As a group, research analysts anticipate that Consumer Portfolio Services, Inc. will post 0.85 earnings per share for the current year.

Insider Activity at Consumer Portfolio Services

In other news, Director Daniel S. Wood sold 20,000 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $7.53, for a total value of $150,600.00. Following the transaction, the director directly owned 194,943 shares in the company, valued at $1,467,920.79. This trade represents a 9.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 63.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Consumer Portfolio Services

A number of large investors have recently modified their holdings of CPSS. Russell Investments Group Ltd. raised its holdings in shares of Consumer Portfolio Services by 6,347.2% in the 4th quarter. Russell Investments Group Ltd. now owns 97,740 shares of the credit services provider’s stock worth $912,000 after purchasing an additional 96,224 shares during the period. Citadel Advisors LLC purchased a new position in shares of Consumer Portfolio Services in the 3rd quarter worth about $163,000. Geode Capital Management LLC raised its holdings in shares of Consumer Portfolio Services by 8.5% in the 2nd quarter. Geode Capital Management LLC now owns 212,555 shares of the credit services provider’s stock worth $2,090,000 after purchasing an additional 16,563 shares during the period. Empowered Funds LLC raised its stake in shares of Consumer Portfolio Services by 3.8% in the 1st quarter. Empowered Funds LLC now owns 150,808 shares of the credit services provider’s stock valued at $1,308,000 after acquiring an additional 5,588 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Consumer Portfolio Services by 17.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 31,752 shares of the credit services provider’s stock valued at $275,000 after acquiring an additional 4,789 shares during the period. 47.57% of the stock is currently owned by hedge funds and other institutional investors.

About Consumer Portfolio Services

Consumer Portfolio Services, Inc is a specialty finance company focused on originating and servicing retail installment contracts for the automotive industry. The company primarily serves subprime and near-prime borrowers by partnering with a network of franchised and independent auto dealers across the United States. By providing flexible financing solutions, CPS seeks to expand vehicle ownership opportunities for customers who may not qualify for traditional prime auto loans.

CPS operates through two principal segments: loan origination and servicing.