Consumer Portfolio Services, Inc. (NASDAQ:CPSS) Sees Large Decrease in Short Interest

Consumer Portfolio Services, Inc. (NASDAQ:CPSS) was the recipient of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 805,300 shares, a decrease of 20.3% from the October 31st total of 1,010,000 shares. Based on an average daily volume of 39,200 shares, the short-interest ratio is currently 20.5 days. Currently, 9.6% of the shares of the stock are sold short.

Consumer Portfolio Services Trading Up 1.4 %

CPSS traded up $0.14 during trading hours on Friday, reaching $10.36. The company’s stock had a trading volume of 10,387 shares, compared to its average volume of 31,874. The business’s 50-day moving average is $9.98 and its 200-day moving average is $9.35. The company has a debt-to-equity ratio of 10.52, a current ratio of 19.17 and a quick ratio of 19.16. The stock has a market cap of $221.76 million, a PE ratio of 11.91 and a beta of 2.00. Consumer Portfolio Services has a fifty-two week low of $7.03 and a fifty-two week high of $12.04.

Consumer Portfolio Services (NASDAQ:CPSS) last released its quarterly earnings results on Thursday, October 31st. The credit services provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). Consumer Portfolio Services had a return on equity of 7.59% and a net margin of 5.59%. The business had revenue of $100.58 million for the quarter, compared to analysts’ expectations of $98.34 million. As a group, equities research analysts predict that Consumer Portfolio Services will post 0.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Consumer Portfolio Services news, Director Daniel S. Wood sold 3,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $10.38, for a total value of $31,140.00. Following the completion of the sale, the director now owns 196,910 shares in the company, valued at approximately $2,043,925.80. This represents a 1.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William B. Roberts sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $10.64, for a total value of $106,400.00. Following the transaction, the director now owns 745,078 shares in the company, valued at approximately $7,927,629.92. This represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 247,256 shares of company stock worth $2,497,284 in the last 90 days. Insiders own 69.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CPSS. Vanguard Group Inc. raised its holdings in shares of Consumer Portfolio Services by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 521,457 shares of the credit services provider’s stock valued at $3,942,000 after buying an additional 3,418 shares during the period. State Street Corp increased its stake in Consumer Portfolio Services by 2.2% during the third quarter. State Street Corp now owns 186,220 shares of the credit services provider’s stock worth $1,747,000 after purchasing an additional 3,922 shares during the period. Empowered Funds LLC lifted its position in shares of Consumer Portfolio Services by 5.3% during the third quarter. Empowered Funds LLC now owns 142,520 shares of the credit services provider’s stock worth $1,337,000 after purchasing an additional 7,236 shares in the last quarter. Fisher Asset Management LLC purchased a new position in shares of Consumer Portfolio Services in the third quarter valued at approximately $960,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Consumer Portfolio Services by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 99,481 shares of the credit services provider’s stock valued at $975,000 after purchasing an additional 1,343 shares in the last quarter. 47.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Consumer Portfolio Services from a “buy” rating to a “strong-buy” rating in a research note on Thursday.

About Consumer Portfolio Services

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.