Consumer Portfolio Services (NASDAQ:CPSS) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Consumer Portfolio Services (NASDAQ:CPSS – Get Rating) from a buy rating to a hold rating in a report issued on Monday morning.

Consumer Portfolio Services Stock Performance

NASDAQ CPSS opened at $9.26 on Monday. The company has a market capitalization of $193.16 million, a price-to-earnings ratio of 2.89 and a beta of 2.21. Consumer Portfolio Services has a twelve month low of $4.64 and a twelve month high of $15.47. The stock has a fifty day simple moving average of $10.22 and a 200 day simple moving average of $8.89. The company has a quick ratio of 8.73, a current ratio of 8.73 and a debt-to-equity ratio of 9.78.

Insider Activity at Consumer Portfolio Services

In other news, Director Greg Washer purchased 9,000 shares of the company’s stock in a transaction dated Friday, December 16th. The shares were purchased at an average price of $7.77 per share, for a total transaction of $69,930.00. Following the transaction, the director now owns 226,000 shares of the company’s stock, valued at $1,756,020. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 64.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Consumer Portfolio Services

Several large investors have recently added to or reduced their stakes in CPSS. Atria Wealth Solutions Inc. bought a new position in shares of Consumer Portfolio Services during the 2nd quarter worth approximately $245,000. Russell Investments Group Ltd. bought a new stake in Consumer Portfolio Services in the 3rd quarter valued at about $1,110,000. State Street Corp raised its stake in Consumer Portfolio Services by 302.3% during the 2nd quarter. State Street Corp now owns 176,451 shares of the credit services provider’s stock worth $1,809,000 after buying an additional 132,594 shares during the period. Northern Trust Corp raised its stake in Consumer Portfolio Services by 412.1% during the 2nd quarter. Northern Trust Corp now owns 113,503 shares of the credit services provider’s stock worth $1,163,000 after buying an additional 91,339 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in Consumer Portfolio Services by 18.9% in the second quarter. Renaissance Technologies LLC now owns 549,658 shares of the credit services provider’s stock worth $5,634,000 after acquiring an additional 87,500 shares in the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

Consumer Portfolio Services Company Profile

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Consumer Portfolio Services, Inc operates as an independent finance company. The firm provides indirect automobile financing to individuals with past credit problems, low incomes, and limited credit histories. It engages in purchase and service of retail automobile contracts originated primarily by franchised automobile dealers and select independent dealers in the sale of new and used automobiles, light trucks, and passenger vans.